Carnation Auto India to initiate auto-components business
Carnation Auto, a brain child of the former Maruti President Jagdish Khattar that offers multi-brand car service solutions, is going to initiate a spare parts business in partnership with Italy based Magneti Marelli (owned by Fiat Group), by the end of this year. It is to be mentioned here that the Carnation group entered into a partnership with auto component major Magneti Marelli for providing service solutions to premium cars.
The auto-servicing and aftermarket spare parts industry has a high potential for organized sector with expected worth of over Rs 20,650 crore. Both the companies will initiate a joint venture which will work as a trading company to capitalize on the vast opportunity exists in this sector.
The finer details are being worked out, but it is certain that Magneti will do the sourcing of components and Carnation will take care of distribution, Mr Khattar said in a interview given to India's leading news agency.
Through this joint venture these companies are eying to make sure the availability of aftermarket car-spare parts across all segments. The company will aiming to provide quality spare parts of the premium car segment at specially established independent stores. Currently, these kind of stores are only available in leading auto-markets like US and Europe, where one can get all premium-car spare parts at a single window. The joint-venture company will not only provide components available in India but also source them from overseas markets.
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