TVS Automobile Solutions Limited (TVS ASL), India’s leading independent aftermarket player, has announced it has made substantial investments in three startups (eCommerce, BIG DATA / Analytics & CRM and Internet of Things) to form a startup ecosystem for its digital initiatives where the company will provide digital business solutions to vehicle and component manufacturers to enable them achieve customer satisfaction and higher market share in the $9.5 billion aftermarket space.
TVS ASL made substantial investments in:
JAZZMYRIDE.com – Dedicated eCommerce leader in the auto aftermarket with over 3,00,000 happy customers – deals with parts and accessories for passenger vehicles, two wheelers and commercial vehicles. It offers more than 100,000 products across 150 categories and more than 52 brands.
AUTOSENSE – It provides technology and analytics based customer management services in “business as a service” model for the industry. Cequity is a leader in data-driven marketing business using CRM, Analytics & BIG DATA solutions across a variety of industry verticals. Cequity has partnered with TVS ASL in creating Auto Sense – Digital technologies and analytics based marketing services company for dedicated automotive vertical.
REDSUN - Internet of Things startup – Developed business solutions like Connected cars in addressing, safety, convenience and integrated service for customers. Connected Car is the next major Digital Platform that would bring product development closer to the customers through real time visibility of performance of the vehicle.
Says G. Srinivasa Raghavan, Executive Director, TVS Automobile Solutions Ltd., “TVS ASL is uniquely positioned in providing both digital technology solutions and brick & mortar infrastructure in addressing the needs of manufacturers. Digital technologies help in enabling transparency in supply chain, visibility of consumption and therefore help them customize products and services towards market needs. We have invested about INR 75 crores in tech start-ups as they bring in emerging tech solutions, TVS ASL will help them with domain, scale and profitability. We expect these businesses to generate revenue of INR 250 crores in the next 3 years.”
He further added, “We have taken the leadership in transforming Indian automotive aftermarket by creating an ecosystem of retailers, garages & fleet wherein each stakeholder is benefited in terms of growth, efficiencies and profitability by actively participating in the value creation for end customers.”
Speaking on the occasion, Sunil Dhingra, Founder & CEO, Jazzmyride.com, said, “We see tremendous synergy with TVS ASL with O2O (online to offline) retailing approach thereby bringing the best of both the worlds to the benefit of all stakeholders in the value chain.”
Mr. Swaminathan, Co-founder & CEO, Hansa Cequity, said, “We are excited to partner with TVS ASL in Autosense which will provide technology and platform based, analytics-driven marketing services in “business as a service” model for the after-market industry. Autosense will help improve sales force, provide analytics solutions for increasing parts efficiency and fleet management analytics to bring down on cost of run for fleet, etc. for the auto industry.”
Ravi Neeladri, RedSun Telematics, said, “We have invested 100,000 man hours in developing this integrated platform that brings key safety features like theft alarms, towing alarm, geo fencing, etc., integrated service management with remote vehicle diagnostics, predictive maintenance, service maintenance due alerts, etc. for ensuring higher life of the vehicle, driver management for passenger cars & commercial vehicles and fuel management features to bring down running costs.”
At present, Indian automobile aftermarket provides a complex picture for manufacturers with over 150 million vehicles outside warranty period that are being served by thousands of garages and retailers. TVS ASL will help simplify aftermarket complexity both vehicle manufacturers and component manufacturers to reach out to their customers directly and effectively by leveraging the digital technology solutions. The visibility of consumption will not only help manufacturers customize marketing solutions but also define & design new products and services for higher market share and profitability.
