After a successful journey in two-wheeler after-market segment, Indian auto component maker Rico Auto has forayed in to 4-wheeler aftermarket.
The announcement was made at a Distributor’s Meet that was organized to celebrate Rico Auto’s one year success. The company has been steadfast in establishing an appreciable sales network of 40 channel partners across India and recording a strong presence in Nepal and Sri Lanka too. In the past financial year 2018-19, Rico Auto after-market vertical started with 28 products and added 250 more new products, taking the total product line up to more than 400 products, both in the 2 & 4 Wheeler component segments.
Arvind Kapur, Chairman, CEO & MD, Rico Auto said, “With the success of over 35 years in manufacturing components and success in the Indian OEMs auto component space it gives me pleasure to announce our foray in the 4-Wheeler aftermarket segment as we cherished overwhelming response and acceptability of our 2W products in last one year. We are highly optimistic and foresee a remarkable performance in the 4-Wheeler aftermarket.”
Surendra Singh, President and COO, Rico Auto said the company witnessed continuous growth since its inception with focus on R&D and network development.
Abhishek Kulshrestha, Vice President – Corporate Materials & After Market Business Rico Auto Industries, “The recent success of achieving the target of INR 10 Cr in nine months in 2w segment has been a phenomenal journey for us in 2017-18. We are working aggressively on spreading our network not only in India but also overseas. We will soon be covering new uncharted territories with special focus on SAARC countries.
Kulshrestha also said the company will be launching new aftermarket products range for the 2-Wheeler segment during the approaching festive season. Looking forward, he said the expected tremendous growth opportunity in the aftermarket will help Rico Auto to reach its projected revenue of more than Rs 100 Cr by 2020.
The aftermarket will have a range of products like Clutch Assembly, Brake Shoes, Clutch Plates, Disk Brake Pads, Brake Drum, Alloy Wheels, & other aluminum parts in 2 wheeler segment and Brake Pad, Brake Shoe, Brake Drum & Brake Disc etc. in 4-wheeler segment.