This awareness makes some new automotive startups perform in this challenging aftermarket. In India, car owners do not mind repairing a small part or replacing it with a "used car part" rather than replacing the whole part at a high cost. They get the same standard of service at less cost since the OEM dealer has a policy of “replacement only” and no repair. The consumers have realised that cheap is not "that cheap" but it’s affordability that counts. Among the estimated 300,000 car workshops in India, only 5000 are organised by companies like MyTVS, Mahindra First Choice (recently acquired by TVS), Bosch, Castrol, Mobil1 and by some startups in the car servicing category. There are also many multi-brand car workshops that can do quality work at affordable rates. The large number of aggregators and startups in car servicing has helped to create awareness among the customers.
Among the many trends and market markers, the three that have created opportunities for the aftermarket are:
I have been following automotive trends from the last few years. I believe in “crisis brings opportunities” and estimated $17 billion aftermarket (by 2025) is going to get MORE benefits for small manufacturer and supplier of branded spare parts in India and consumer will get affordable spare parts with same quality and standards. Hope You and Your Family are Safe in This Pandemic Situation!
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