Auto components maker Rico Auto on Friday announced its foray into four-wheeler aftermarket segment, having established itself as a leading supplier of parts to various domestic and global firms. The company, which had last year entered the two-wheeler aftermarket vertical, is targeting revenues of over Rs 100 crore from the aftermarket business by 2020.
Besides supplying auto parts directly to manufacturers, following its foray into the aftermarket segment, the company’s components will now be available directly to consumers in case of repair or replacement of parts. The company has already established a network of 40 channel partners across the country for aftermarket segment and even set up strong base in Sri lanka and Nepal. Rico started with 28 products for the aftermarket last year.
It already has added 250 more parts and aims to have over 400 products in both two-wheeler and four-wheeler components segment by end of the current fiscal. The company is already an established player in the two-wheeler original equipment manufacturer (OEM) segment with supplies to major players like Hero MotoCorp, TVS Motor, HMSI and Bajaj Auto.