How to increase Automotive After Market Revenue

The Indian Automotive Component Market size is USD 74.8 billion and 33 per cent growth in FY 2023. It is expected that 16 per cent growth will be registered by FY 2025.

ACG is known for its key expertise in the Automotive Industry. We are working with almost every stakeholder of the Automotive Industry like OEMs, Dealers, Financers, Venture Capital, Software and others.

Some of the Indian Automotive Aftermarket Business problems and Challenges:

Why Losing market share;
How to understand Short and long-term trends;
Why gain market share without knowing the reason
Analysis of impact of new Suppliers competitors;
Understand the need for new or innovative products; and
Understand and Prepare risk of disruption in the Automotive Aftermarket industry

Our Approach:

Who are your customers?
How can you enhance your strengths, Identify weaknesses, and how can you improve the business activities?
Understand the customer behaviour
Cost Optimization
Competitive forces analysis and outlook

Automotive Vehicle PARC (VOI) data shows a tremendous business opportunity in the After Market Automotive segment.

Recently, we conducted a study on After Market Revenue Study on How to increase revenue and profit in Indian Automotive Aftermarket segment As per our study, we have found that with the right strategy the Car, Commercial vehicle, Two Wheeler dealers can increase their revenue at least by 30 per cent in 1 to 3 years.

We have analysed the Customer experience of each segment and behaviour at the dealership and also the dealership approach and tools to match and convince customers. Our Qualitative and Quantitative methodology assists in creating the growth blueprint of this segment.

The trust is missing between customer and Dealer. Another challenge is customers prefer to get the vehicle at a local garage than an Authorised workshop due to cost savings.

Recently, the Automotive dealers introduced some tools to make the maintenance and repair transparent like a Computerised health check-up, parts replacement Video shoot, return the old parts to the customer and others.

But the key is how to build trust and convince customers to follow OEM’s authorised workshop recommendations.

ACG has identified some of the key issues and how to build a bridge between them. Repair, replacement parts, wear & tear items, and maintenance are three major revenue-generating segments. Each segment has a different growth driver and challenges. We identify the key points of all three categories.

Another aspect of the Consulting services included in the study is Independent and OE suppliers parts manufacture like CK Birla, Bosch, Continental and others.

We have created exclusive pricing database of Spare parts price. This give insight of the Automotive After Market Dynamics.

We design the strategy which can be implemented to achieve desire result.

Key highlights of the Report: