Speed-A-Way Pvt. Ltd. of the Amalgamations Group, one of the most reputed and respected aftermarket houses in the country, is gunning for aggressive growth both in terms of turnover and market presence by the end of the current decade. The company represents 28 leading brands, both home-grown and multinational ones, from the auto component industry and is one of the strongest aftermarket distributors in South India, striving to make it big on a pan-India level.
In a quick chat with MOTORINDIA, Mr. S. Ramachandran, Director, Speed-A-Way Pvt. Ltd., says: “By 2020, 7 million vehicles will be sold annually in India which means our country might be among the top 3 auto markets globally. The aftermarket segment is estimated to touch a turnover of Rs. 100,000 crores. With our focus on e-retail, GST coming in, our brand strength and control in the market place, we hope to reach a turnover of Rs. 500 crores earlier than 2020.”
Speed-A-Way has been a top performer in South India and has clear plans of going pan-India in a big way. “By 2020, we expect to be fully-equipped as a pan-India player. With the introduction of GST, we could be selling to Kashmir from Kanyakumari. We have 45 branches in South India at present and this count could grow to around 65 in the next three to four years’ time”, adds Mr. Ramachandran.
While expanding its reach across the country is one focus area, Speed-A-Way is also looking to offer a new dimension in its services to customers. “We are gearing up to provide brand-specific aftersales service using our genuine spare parts and also offer the customer a total packaged solution or service option. This is how Speed-A-Way will be adding a dimension to its offering. Bosch has given us the opportunity to set up a diesel calibration centre and with increasing governmental regulations on improving safety measures, economy of operations and fuel efficiency, we are getting prepared for providing such tested and proven solutions”, he reveals.
According to Mr. Ramachandran, Speed-A-Way’s three key focus areas for the future would be “to achieve pan-India presence within the next two years, post the GST implementation; to increase emphasis on region-wise service; sell products under its own brand name or enter into suitable joint ventures.”
With digitalization taking different industries by storm, its effects are reflecting in the aftermarket space too. Having tracked the trends quite well, Speed-A-Way is planning to implement a robust ERP system for its operations in about a year’s time.
The aftermarket outfit is also planning to take the e-way for selling its products. On asked whether customers would prefer buying spare parts online, the Director replies: “The current generation does not have any sentiment in buying products nor do they always have the time to touch and feel before purchasing. So the ‘click and buy’ method supersedes the ‘touch and feel’ approach. Due to the current e-commerce trend, we are exploring the possibility of tying up with e-commerce players like Flipkart for selling our products.”