The domestic automotive aftermarket space is witnessing interesting trends which present both challenges and opportunities for players in the segment.
Sharing his views on the current aftermarket scenario, Mr. Mukund S. Raghavan, Executive Director, India Motor Parts & Accessories Ltd. (IMPAL), said: “Consolidation is the need of the hour and must happen through various processes like expansion, creating advanced warehouses to feed customers in smaller towns, bringing in higher variety of products and value-for-money solutions.”
“The aftermarket sector will face many changes going forward. Markets are continuously shifting towards peripheral areas of suburban cities. Mechanics have begun venturing into the idea of setting up establishments in smaller towns and in city by-passes, where the commercial vehicle traffic is high, compared to urban areas.” he added.