Close on the heels of announcing its impressive foray into manufacturing of aesthetically designed, high performance and superior quality of Premium Flow Forged Alloy Wheels for Indias Aftermarket for passenger cars, Delhi-based Advantec Wheels today disclosed the immense potential of this market and its strategy to capture a larger pie of the market. The company will be rolling out its product range in the third quarter of the current fiscal from its state-of-the-art factory in Jammu. This was shared by Mr. Jasneet Singh, Founder-Director, Advantec Wheels today.
Leading Passenger Cars
Detailing the current market scenario for the Aftermarket, Mr. Jasneet Singh remarked, “The Aftermarket is plagued with many challenges – be it on quality, authenticity, performance, logistical pipelines, forex movement etc. The alloy wheels market in India is estimated to be approx. 7 Lac wheels p.a. dominated largely by Chinese and South-East Asian suppliers. As a growing market, over 50% of the market demand is catered by imported wheels with lack of certification to BIS and quality and finish of products are highly suspect, leaving customers with no choice or alternative! In the year 2021 alone, it is estimated that approx. 310,000 4-wheeler after-market alloy wheels have been imported in India, registering an yearly growth of approx. 12.5%.!. Incidentally, the last three years has witnessed a huge influx of imports of alloy wheels into the country. Hence we see a latent need to tap this category.”
Mr. Ravinder Arora, Founder- President & Director, Mr. Sukhbir Singh, Founder-Director & Mr. Jasneet Singh, Founder-Director
Detailing the overall marketing strategy, Mr. Singh stated, “We are entering the market with our own alloy wheels that are fully engineered, perfected and validated in-house using state-of- the-art manufacturing processes, quality and performance matching the levels of international suppliers. Lately, we have seen a huge surge in the passenger cars segment with increased use of alloy wheels. Customers are demanding value-added products with high quality finishes that lend more durability to the cars performance. We are poised to play the Numero Uno position in serving these cars with our robust alloy wheels. We are equipped with Wheel Rim domain knowledge of more than 50 years. With our new range, we are hopeful of captuting approx. 25% share for the domestic market with focus on the niche segment of high quality and value-added wheels.”
He further added, “Our research indicates that Alloy Wheels are the bedrock for a smooth, safe and effortless performance of the car. Our single-minded objective is to introduce Hi-Quality Wheels that would conform to world class standards on key parameters such as – aesthetics and performance, and an added customization option called Element Painted (E.P) allowing customers to choose from a wide variety of finishes per design! We intend to be a strong player in this segment in time to come. We will be the first company to have a fully-automated Foundry line in the country.”
Detailing the product specifications, Mr. Singh added, “We will have some key firsts to our credit. As the first company to have a fully-automated Foundry line in India, our Foundry Lines will be of international standards wherein casting of wheels are done in automated Tilt Gravity Die Casting machines to make consistent and better quality of wheels. Our first in class processes like “Flow Forging” will lend our products extra strength and edge in flawless quality. Another Industrys first process at our factory is the introduction of Element Painting (EP) which makes our products distinct, unique with customized finishes as per customers requirements like never before. Our CoE (Center of Excellence) would conform to BIS / ISO Standards and have the capability to offer Mirror Cut Alloy Wheel Finishes. Importantly, one of the USP’s is the in-house Tool Design and Development that would deliver all kinds of designs and sizes for wheels with great speed to market. Whats more! All these come with proven track record of industrys veterans and professionals. We expect to achieve a maximum sales volume of approx. of 200000 in upcoming years. We will have manpower of over 125 people at peak capacity of the plant.”
Elaborating on the Sales and Marketing plans for the brand,Mr. Singh said, “We have a well-entrenched marketing strategy in place. We propose to target the niche premium segment of the young automotive enthusiasts in India who are desiring value-added products. Our Social Media campaign is in place which has evoked a lot of response and enthusiasm. We will be participating in major automotive exhibitions and events throughout the country and abroad. Our sales and distribution strategy includes establishing contacts with major dealer networks in the initial targeted metro cities as well as direct sales through our e-commerce website (www.advantecwheels.com).”
“We shall be adhering to a well-thought-out pricing strategy which will bring premium, luxury performance wheels of international technology and standards at affordable prices.”
