The firm, which labels its spare parts as MFC Spares after procuring them from original manufacturers, will expand its existing portfolio of four-wheeler spares to cover two-wheeler spare parts, including filters, horns, oil and electrical relays.
In the next one year, the firm intends to roll out its own service centres for two-wheelers through the franchise route. “We will start distribution of two-wheeler spare parts in the next few days and have an elaborate plan to get into two-wheeler servicing, which is a huge market,” YVS Vijay Kumar, CEO, Mahindra First Choice Services, said in an interview. He said the objective of the company was to supply genuine spare parts to consumers at a slightly lower rate than available in the market. The automotive spares market is estimated at ₹56,098 crore by the Indian Automotive Aftermarket ACMA report (2016-17).
Of this, the two-wheeler and three-wheeler spare parts market is pegged at ₹12,000 crore. The bulk of the market is controlled by unorganised players and owners of two-wheelers often complain about spurious spare parts peddled by roadside workshops attached to auto parts retailers.
MFC Services said it aimed to supply branded generic spares at competitive rates, through its 60 distributors across 25 States. It plans to increase distributor count to 100 by next year.