In a significant milestone for India’s automotive aftermarket sector, MyTVS, a leading multi-brand car service platform, has announced the expansion of its network to 1000 service centers across the country. This achievement marks a pivotal moment in the company’s four-year journey to revolutionize the fragmented automotive service industry through digital innovation and standardization.
G. Srinivasa Raghavan, Managing Director of MyTVS, shared this news during a recent media interaction, highlighting the company’s rapid growth and future aspirations. “We began our journey four years back with the objective of creating a complete digital platform to be the destination brand for customers, providing all their car management needs through a large multi-brand service network,” Raghavan explained.
MyTVS embarked on its mission in November 2019, identifying four key challenges in the multi-brand service network: standardization, quality perception, service delivery, and pricing transparency. To address these issues, the company developed a comprehensive digital platform that integrates offline operations with online convenience, creating what Raghavan terms an “O2O” (offline to online) model.
This innovative approach has allowed MyTVS to rapidly expand its presence, now operating in 400 towns across India. The company’s growth strategy involves opening two new service centers daily, with plans to reach 2000 centers within the next two years. This expansion is expected to solidify MyTVS’ position as one of the top three automotive service networks in the country.
Digital Transformation of Automotive Services
At the heart of MyTVS’ success is its commitment to digital innovation. The company has developed a seamless digital ecosystem that covers every aspect of the service experience, from customer engagement to diagnostics, billing, and delivery. This digital-first approach not only enhances customer convenience but also brings unprecedented transparency to the service process.
Raghavan emphasized the role of artificial intelligence (AI) in the company’s operations. “We have a full option of convenience for the customer, from delivering the vehicle to picking up and dropping the vehicle. We’ve ‘uberized’ the whole thing,” he explained. The company’s AI-powered backend system, which Raghavan claims is the largest cloud platform in the sector with over 40 million data records, enables predictive maintenance recommendations based on individual driving behaviors.
One of the key differentiators for MyTVS is its focus on standardization across its network. The company has implemented rigorous training programs for technicians, partnering with Nexus Academy to establish India’s first dedicated training infrastructure for automotive service professionals. This facility can train 100,000 technicians annually and utilizes cutting-edge technologies like augmented reality for immersive learning experiences.
MyTVS also employs a structured certification system for technicians, categorizing them into different levels based on experience and expertise. This ensures that customers receive consistent, high-quality service regardless of which center they visit.
Expanding Beyond Traditional Services
While MyTVS started with a focus on personal vehicle services, it has since diversified its offerings to cater to various segments of the automotive market. The company now operates in four key areas: personal mobility, enterprise mobility, fleet mobility (focused on commercial vehicles), and the garage ecosystem.
A particularly innovative aspect of MyTVS’ approach is its efforts to support and uplift independent garages. The company has created a platform that provides these garages with access to parts, training, and technology, helping them improve their businesses and potentially become MyTVS franchisees.
Recognizing the financial challenges faced by many garage owners, MyTVS has partnered with ICRA Analytics to develop an alternative credit score methodology. This initiative aims to bring garage owners into the mainstream financial system, enabling them to access capital at more favorable rates than traditional microfinance options.
“We’ve partnered with ICRA analytics and developed an alternate credit score methodology which got certified through the banks so that they can get access to capital at a cheaper interest than microfinance interest,” Raghavan explained. This innovative approach not only supports the growth of individual garages but also contributes to the overall organization and professionalization of the sector.
Future Plans and Global Ambitions
Looking ahead, MyTVS has set ambitious goals for both domestic and international expansion. In India, the company aims to capture 10% market share of the addressable vehicle park within the next three years. This would translate to serving over 4 million cars annually, a significant increase from its current customer base of over 1 million vehicles.
On the global front, MyTVS is running pilot projects in multiple regions, including Europe, Asia-Pacific, and Africa. These pilots focus on exporting the company’s technology platform, with the goal of organizing the global aftermarket sector. “We strongly believe India has a great opportunity to make technology a leveler in organizing the global aftermarket,” Raghavan stated.
Despite its impressive growth, MyTVS acknowledges that challenges remain in fully organizing India’s automotive aftermarket. Access to affordable real estate and financial services for garage owners continues to be a hurdle. However, the company sees these challenges as opportunities for innovation and is actively working on solutions, such as its alternative credit scoring system.
The company is also exploring new frontiers in automotive diagnostics, with plans to bring diagnostic capabilities directly to cars and homes. This forward-thinking approach positions MyTVS at the forefront of the industry’s digital transformation.