My TVS to expand car service business

Mumbai: My TVS, part of the Chennai-based TVS Group, is gearing up to expand its multi-brand car servicing business into 14 States by the end of this year. My TVS provides independent after-market services including car services, used-car business and roadside assistance.

The company has its roadside assistance service network in 21 States but its main verticals used car business and multi-brand car servicing have not yet been extended beyond Tamil Nadu, Kerala, Andhra Pradesh and Karnataka.

“We have plans to expand to 14 States. Maharashtra, Delhi, Punjab and Haryana are our immediate priorities,” Mr R. Srivatchan, President (Customer Centric Business), My TVS, said. The company currently has 70 branches across four southern states.

TVS invested more than Rs 30 crore into the after-market business. This excludes the sharing of the assets and services of other TVS Group ventures. The company has decided to invest a few crores more into the business. However, Mr Srivatchan did not divulge details about capital expenditure plans. “My TVS crossed the break-even point and now it is at the take-off stage,” he said.

The company has no immediate plans to expand its used-car business to more States. “The used-car business involves a lot more complexities and we are not expanding it to other States at the moment,” he said.