New Delhi, Feb 12 Mahindra First Choice Services (MFC Services) today said it has forayed into branded two- wheeler spare parts business.
The company, which is a fully-owned subsidiary of the Mahindra Group, currently has a strong foothold in the four- wheeler spare parts segment.
MFC Spares will now expand its existing portfolio of 4- wheeler spares to include a comprehensive list of fast-moving two-wheeler spares like filters, horns, oil and electrical relays, among others.
"Our foray into the 2-wheeler spares segment was a natural progression, on the back of the success of the 4- wheeler spares business over the last three years," MFC Services CEO YVS Vijay Kumar said in a statement.
This new foray marks yet another step that will take the company closer to its vision of creating a transparent and trust-worthy eco-system for the vehicle after-market in India, he added.
MFC Spares will offer spare parts of leading two-wheeler brands like Yamaha, Hero, Honda, Bajaj, Suzuki, Royal Enfield, TVS, among others.
It will also offer spare parts for scooters.
MFC Services is a chain of multi-brand car workshops with over 340 workshops, present in over 250 towns across 24 states.
MFC Spares has been offering branded auto spares through a country-wide network of 60 distributors in 25 states.
With this new product line, MFC Services plans to increase its footprint to 200 distributors by FY-2020.
The company is currently engaged with 3,000 retailers and 8,000 mechanics across the country. It aims to establish a country-wide network of over 1,000 workshops.
The automotive spares market is currently pegged at Rs 56,098 crore as per the Indian Automotive Aftermarket ACMA report (2016-17).