| TVS
group to expand MyTVS chain
TV
Sundaram Iyengar & Sons Ltd, the parent
of TVS Group, has announced the launch of MyTVS,
a multi-brand car service-cum-sales centre in
Hyderabad and plans to set up a chain of about
450 centres across the country with an investment
of Rs 225 crore.
Of
the proposed 450 centres, 100 would be owned
by the TVS group and the rest would be set up
through a franchisee route. The company plans
to expand both in Andhra Pradesh and Karnataka
initially, following its success in Tamil Nadu
and Kerala.
Addressing
a press conference here on Thursday, the Executive
Director of TV Sundaram Iyengar & Sons Ltd,
Mr. R. Dinesh, said "initially, we are
looking at pan-South India presence and gradually
expect to cover various States in the country
by 2009. We expect, by then, the concept of
multi-brand auto dealership would also be a
realty in the country and TVS would have a headstart."
The
company expects to set up a warehouse chain
to store spares for various car manufacturers
and also make use of its logistics arm to meet
the supply chain issues, Mr Dinesh explained.
MyTVS
expects to double its revenues this year to
Rs 100 crore. Of this, about 60 per cent would
come from sale of pre-owned cars. The market
for after-sales services in India is estimated
at about Rs 7,000 crore and this is poised for
growth as the automotive industry itself is
witness to rapid growth.
TRAINING
CENTRES
As
a part of the TVS group initiative, the company
is setting up full-fledged training centres
for not just MyTVS requirements but for the
whole group. The first centre would come up
in Madurai. It is proposed to establish 6-7
centres across the country. Each centre will
have the capability to train about 300 people
a month.
The
President of MyTVS, Mr R. Srivatsan, said that
every house has become a multi-brand centre
in itself, with some families owning cars of
different manufacturers. In such a situation,
they require a reliable partner to meet their
distinct requirements. The technical expertise
and customer friendly approach of MyTVS would
make inroads into this market.
MyTVS,
a successful brand in Tamil Nadu and Kerala
serving through 365 authorised outlets including
24x7 breakdown service.
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