Greaves Cotton ventures into multibrand spares

Greaves Cotton Limited has announced an entry into multi-brand spares business. Marking an extension of its aftermarket services, Greaves Cotton, through its 3000 outlet network in aftermarket services will cater to engines, transmissions, electrical, rubber parts, lubricants and body parts in a phased manner. Keen to tap the vast untapped potential due to the increasing vehicle population in India in the aftermarket space according to the managing director and CEO Sunil Pahilajani, Greaves Cotton also hopes to counter the serious spurious parts threat. Planning to offer fast-moving vehicle and engine spare parts in addition to generic parts in phase-one, the compamy would cater to threewheelers and commercial vehicles across brands. Planning to increase its footprint by adding an additional 1500 outlets in the next three to five years, the company sources have put the spare parts market size in India at Rs.3,500 crore.