 "Greaves Cotton plans to open 1500 outlets for after-market services")
Greaves Cotton Ltd, which recently forayed into multi-brand spares business as an extension to its after-market services, plans to increase its footprint by adding an additional 1500 outlets in the coming three to five years.
As a part of the strategy for its new business, the engineering major, which already has a strong presence in the after-market services with a network of over 3,000 outlets spread across the country, will provide a complete range of multi brand spares acorss categories like engine, transmission, electrical, rubber parts, lubricants and body parts.
"With an ever increasing vehicle population in India, there is a vast untapped potential in the after-market space. Also, there is an urgent need to counter the serious threat from spurious parts dealers," said Sunil Pahilajani, MD and CEO, Greaves Cotton.
The company will initially offer fast-moving vehicle and engine spare parts through its strong retail network. This will be in addition to generic parts. In the next phase even relatively slow-moving parts will also be offered to customers thus becoming a one-stop-shop for most parts requirements irrespective of the brands of 3-wheeler passenger and commercial vehicles.
Currently, the size of the spare part markets in India is Rs 3,500 crore in the space that Greaves Cotton is addressing. The company will be using its manufacturing facility and sourcing capability to produce and source vehicle and engine parts.
As a part of the strategy for its new business, the engineering major, which already has a strong presence in the after-market services with a network of over 3,000 outlets spread across the country, will provide a complete range of multi brand spares acorss categories like engine, transmission, electrical, rubber parts, lubricants and body parts.
"With an ever increasing vehicle population in India, there is a vast untapped potential in the after-market space. Also, there is an urgent need to counter the serious threat from spurious parts dealers," said Sunil Pahilajani, MD and CEO, Greaves Cotton.
The company will initially offer fast-moving vehicle and engine spare parts through its strong retail network. This will be in addition to generic parts. In the next phase even relatively slow-moving parts will also be offered to customers thus becoming a one-stop-shop for most parts requirements irrespective of the brands of 3-wheeler passenger and commercial vehicles.
Currently, the size of the spare part markets in India is Rs 3,500 crore in the space that Greaves Cotton is addressing. The company will be using its manufacturing facility and sourcing capability to produce and source vehicle and engine parts.
To begin with, the company has tied up with more than 40 vendors for the supply of various spares. “With our strong and increasing network across the country, we are in a position to provide one stop solution to our customers. Greaves has a strong distribution channel and service network which can be utilised to serve customers of other brands. All other brands are not doing enough in this space and we believe there is an opportunity to create value,” added Pahilajani.
Greaves Cotton, with its seven manufacturing units, is one of the leading engineering companies in India with core competencies in diesel/petrol engines, farm equipment and gensets.
Greaves Cotton, with its seven manufacturing units, is one of the leading engineering companies in India with core competencies in diesel/petrol engines, farm equipment and gensets.
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