Established in 1945 as a trading company, Lumax Industries Ltd is today a one-stop supplier of high-quality lighting solutions for four-wheelers, two-wheelers and commercial vehicles, providing automotive manufacturers in India and around the globe. In order to strengthen its local and global market position, Lumax Industries Ltd decided to collaborate with us so that the company became a data supplier in August 2020. The brand’s product portfolio has been added successfully to our TecDoc Catalogue, one of the world’s leading catalogues for the automotive aftermarket. Lumax Industries Ltd has set itself the goal of spreading reach and awareness of its product range at grassroots level, i.e. in workshops and B&C class retail towns.
The company offers a wide range of automobile lighting systems and solutions, more than 5000 employees have taken vehicle lighting to an exemplary level in the Indian automotive industry. Technology and innovation are based in nine state-of-the-art manufacturing facilities all across India. The company has two R&D centres in India and one design centre in Taiwan. The growth has been catalyzed by more than three decades old collaboration with technical and financial collaboration with Stanley Electric Company Ltd, Japan, a world leader in vehicle lighting and illumination solutions. Lumax Industries Ltd is listed on Bombay and National Stock Exchanges in India.
One big market, multifaced demands
The Indian automobile market for passenger vehicles is one of the largest in the world and is an engine of growth for the Indian economy. On the other hand the independent aftermarket is still developing. As demand for first- and second-hand vehicles continues to expand, the need for vehicle repairs and servicing will increase bringing a corresponding growth in the automotive aftermarket segment at around 10-15 percent. It has the potential to generate up to US$ 300 billion in annual revenue by 2026, create 65 million additional jobs and contribute over 12 per cent to India’s Gross Domestic Product.
Mr. Sanjay Bhagat, Executive Vice President – Head Aftermarket Division at Lumax Industries Ltd sees further trends in the Indian IAM: “On the one hand, independent workshops are developing in the direction of organized players. Customer behaviour is also changing since they started verifying products and prices online. Another point is that an increasing number of retailers are getting organized post GST implementation.”
See and be seen: Why it is so important to be part of the TecDoc community
The identification of right parts is becoming increasingly difficult. The answer to this is a standard catalog for everyone to get access to high-quality replacement parts. This gives Indian retailers and workshops a much better overview of the market as to which replacement parts are suitable for which vehicles. “With the regionalised version of the TecDoc Catalogue, the Indian IAM has a globally recognised industry standard for the first time. The goal is to make it easier to identify and find matching replacement parts and to enhance processes and efficiency in the workshops”, explains Vats R. Srivatchan, Director TecAlliance India.
„The Indian market is not DIY type. So influencers like retailer & workshop mechanics play a major role in product & brand selection. In the long term, we expect to be able to increase our reach and get a consolidated directory of good workshops and retailers so that we can address them with product offers. Since TecAlliance is an established platform on international level, it would be a good initiation to promote our products on both international and national level, “says Bhagat. “We had a good first hand experience with the team. The communication, response times and data service are truly remarkable. The experts from TecAlliance are very supportive in explaining & building the data. For next level, we are expecting faster spread of the online catalogue and an increasing number of subscribers.“
Tailwind from the apex body representing the interest of the Indian auto component industry
In order to realise the Indian replacement parts catalogue solution while meeting the highest possible standards of quality, we have established a consortium with an Indian start-up and are working closely with the Indian part manufacturer association ACMA (Automotive Component Manufacturers Association). More than 700 manufacturers are organised in ACMA, covering more than 85 % of the turnover of the Indian automotive supply industry. The Chairman/Managing Director of Lumax Industries Ltd, Mr. Deepak Jain, is also the president of the ACMA that encourages its members with numerous initiatives to advance digitisation in the automotive aftermarket in India. “As one of the world’s leading data specialists connecting the digital automotive aftermarket, we would like to take the Indian market to the next level together with ACMA and some data suppliers,”Vats R. Srivatchan sums up.