In an industry with annual billings of over Rs. 300 mn, TVS Lanka wants to drive out the market for fake motor vehicle spare parts.
The spare parts industry grows at an annual rate of 20 per cent, while fake parts sales account for an estimated 40 per cent of the market.rn
rnIncreasing awareness and an efficient distribution channel will reduce the market for fake parts to less than 20 per cent, says TVS Group Indias Executive Director R. Dinesh.rn
rnTVS Autoparts, a partnership between Motha Investments and TVS Lanka, the Groups joint venture with United Motors will market the Indian made spares in the local market. rn
rnInitially supplying spares for Indian made motor vehicles, TVS hopes to tap into the larger Japanese vehicle spare parts market before the end of 2003.rn
rnUnited Motors officials say that in Sri Lanka the market for Japanese auto parts was four times larger than the Indian spare part industry. rn
rnTVS officials say they have completed a detailed study of the market and