Ceat, one of the leading tyre manufacturers which acquired Tyresnmore.com in August, aims to strengthen its aftersales automotive solutions to provide doorstep service to its customers.
The company says Tyresnmore.com has revolutionised the automotive industry by offering end-to-end solutions, from product discovery to doorstep fitment for both two- and four-wheelers. It has a strong presence in key cities such as Delhi-NCR, Mumbai, Hyderabad, Bangalore, Pune, and Chennai, addressing critical pain points in the offline tyre replacement market. These include transparent pricing, product availability, consistent quality, and a convenient process, all facilitated through fully equipped mobile units and trained personnel.
Anant Goenka, Member – Group Management Board, RPG Group said, “Tyresnmore.com has demonstrated remarkable growth and innovation in the auto aftermarket e-commerce sector, which is poised for rapid expansion in India. We are impressed by company’s customer-centric approach, operational excellence, and technological capabilities. We are confident that Tyresnmore.com will continue to lead the way in transforming the auto aftermarket experience for Indian consumers.”
Arnab Banerjee, CEO & MD, Ceat said, “Our strategic acquisition of Tyresnmore.com aligns seamlessly with our vision to provide cutting-edge solutions to the evolving needs of the automotive market. With this integration, we look forward to setting new standards, enhancing accessibility, and delivering exceptional value to our customers across the nation.”
Ceat says post-pandemic, Tyresnmore.com has demonstrated an impressive year-on-year growth of about 50 percent, with a significant focus on the business-to-consumer (B2C) segment, contributing to a notable 150 basis points increase in margins. It has successfully fitted over 150,000 tyres at doorsteps, catering to more than 75,000 individual retail customers and 25,000 enterprise vehicles. The platform has witnessed a remarkable fivefold surge in website traffic, attracting over 500,000 monthly unique visitors.
Rajeshwar Wadhera, CEO, Tyresnmore.com, said, “The acquisition by CEAT is not just a validation of our efforts, but also an opportunity for us to leverage their extensive resources and expertise. We can now shift our focus towards accelerating our ambition – to become India’s premier automotive aftercare e-retailer. We are confident that this strategic alliance will help us consolidate our market leadership and deliver superior value to our customers at their convenience.”
The acquisition of Tyresnmore.com by CEAT in August 2023 is a landmark deal in the auto aftermarket e-commerce sector, which is expected to grow at a compound annual growth rate (CAGR) of 15 percent by 2025. By joining hands with Ceat, Tyresnmore.com will be leveraging the Ceat’s vast experience, network, and resources to scale up its operations and reach new markets.