Now, Auto Parts In 2 Hours!

December 19, 2024 11:01

Anjali Singh/Business Standard

In a pioneering move, myTVS, Indias largest digital platform for the automotive aftermarket, on Wednesday announced entering quick commerce for distributing automotive parts and lubricants -- myTVS Hypermart being the brand name -- for passenger and commercial vehicles.

Deliveries, to retailers and other business partners, will be in one-two hours of getting orders.

"This model marks a milestone as we roll it out in a phased manner," said G Srinivasa Raghavan, managing director, myTVS.

Aiming to expand supply-chain partnerships with parts-retail networks, the platform, which connects manufacturers, retailers, and garages, has streamlined operations for 22,000 retailers and 30,000 garages nationwide.

myTVS, which rang up revenues of Rs 1,900 crore in FY24 and services about 4 per cent of the countrys vehicle-park, is aiming to expand the coverage to 10 to 12 per cent in two years. It is targeting a compound annual growth rate of 30 to 35 per cent.

myTVS aims to tackle the fragmented nature of the automotive aftermarket, which has been a hurdle for both retailers and customers, by improving efficiency and delivery time, and combating the issue of spurious parts. This will be done through standardised nomenclature and a centralised supply chain.

In the pilot phase, the model demonstrated profitability per store within three months and superior returns for partner retailers. One retailer, for example, reduced inventories worth Rs 3.2 crore to nearly zero, freeing up Rs 2.5 crore in cash flow within four months.

With a catalogue of over 12 million parts, myTVS will initially establish 50 dark stores, branded myTVS Hypermart, by March next year in Tamil Nadu, Kerala, Maharashtra, and Gujarat. Over the next three years, the company will add 200 stores across India.

With plans to grow its dark-store network to over 250 in three years, the platform is positioned to drive a 30 per cent reduction in supply-chain costs. Retailers can now access the myTVS digital catalogue and meet orders.

The company has said the increase in logistics cost due to this delivery model will be minimal because last-mile deliveries will be managed by an electric-vehicle fleet. However, the company did not state the amount of increase.

« Back to LIVE

TOP STORIES

LIVE! Conspiracy to save...: Priyanka on BJP charge

High drama in Parl: 2 MPs in ICU; BJP blames Rahul

Ruling NDA and opposition INDIA bloc MPs clashed in Parliament on Thursday over Home Minister Amit Shah's remarks on B.R. Ambedkar, leading to jostling and an injury to BJP MP Pratap Sarangi. The opposition demanded Shah's resignation,...

Oppn's no trust move against VP Dhankhar rejected

The Rajya Sabha deputy chairman, Harivansh, has dismissed the impeachment notice against Vice President Jagdeep Dhankhar, calling it an act of impropriety, flawed, and hasty. The notice was signed by 60 opposition members who alleged...

Parl melee: Cong claims Kharge pushed, Rahul manhandled

The Congress said BJP MPs had sticks in their hands and Kharge was threatened and pushed.

'Gundagardi karte ho?': BJP MP calls out Rahul

"He pushed me," Gandhi countered Dubey, walking off after having a cursory look at Sarangi, who was being attended to by fellow BJP members.