Nigeria’s Mecho Autotech to launch model 2.0 of car administration app and automotive spare components market

Mecho Autotech (“Mecho”)  a Nigerian platform offering world automotive spare components and automobile repairs and upkeep companies is about to launch a model v2.0 of its automobile administration app that connects  automobile homeowners to certified and vetted mechanics within the third quarter of this 12 months.

Based by Olusegun Owoade and Ayoola Akinkunmi, Mecho Autotech has created a community of vetted in-house and third-party mechanics with the client affordability (of companies and retail prospects) in thoughts.

“After we launched out there two years in the past, we centered on offering top quality automobile upkeep companies. However over time we discovered that we needed to prioritize fixing the damaged automotive spare components provide chain — a extra pressing downside within the trade and an even bigger driver of its worth. Spare components represents $6BN out of Nigeria’s $8BN automobile aftersales market. Since we pivoted our enterprise, now we have serviced greater than 50 company fleet homeowners and spare components wholesalers and offered spare components from 5 world automotive producers. By bettering the supply of top of the range spare components, we consider that we are able to play a job in bettering Nigerians’ automobile longevity and street security,” stated Olusegun Owoade Mecho Autotech CEO/co-founder.

Amongst its new options, prospects can entry financing to pay for automobile repairs and upkeep to protect their money circulate. After present process a straightforward and quick verification course of, eligible prospects can obtain overdrafts of as much as 10 million naira, that are deposited within the Mecho app pockets. Clients even have extra versatile servicing choices: they will drop off their autos at any of Mecho’s 100 accomplice workshops in Lagos, Abuja and Port Harcourt, or organize for pick-up. Within the new improved 2.0 Mecho app, prospects can monitor all their bills, upkeep requests, and automobile historical past. Company fleet homeowners can handle a number of mechanics, together with Mecho and different third occasion service suppliers, to streamline the upkeep and repairs course of in a single easy-to-use app. Mecho can even roll out an IOT integration permitting company fleet homeowners to trace their autos. The two.0 automobile administration app will probably be free to make use of.

Additionally in Q3, Mecho will launch Mecho Mart, a market for high-quality aftermarket and unique OEM spare components for wholesalers and enterprise fleet homeowners. Clients will be capable of purchase  real auto components like tires, shock absorbers, brake pads, lubricants and filters. Utilizing {the marketplace}, spare components wholesalers can refill on stock with top-quality components, safe financing, and enhance revenue by avoiding stockouts. With assist from International Brains , a Japanese enterprise capital agency that invested a seven-figure sum within the firm, Mecho goals to construct partnerships with world automotive aftermarket spare components producers to supply real and inexpensive spare components to construct a dependable automobile spare components provide chain in Nigeria.

Nigeria has greater than 12 million registered autos of which greater than 90% are imported used autos. Given the predominance of used autos, the automotive aftersales trade is extremely fragmented and casual with a damaged aftermarket spare components provide chain. Spare components wholesalers battle to entry top quality and unique components, and undergo frequent stockouts as they’re unable to entry working capital to buy stock. Regardless of its casual and fragmented nature, Nigeria’s automotive aftersales and upkeep market is valued at an estimated $8BN. The typical Nigerian automobile proprietor spends $50-60 per 12 months on repairs and upkeep of which 80% is spent on spare components.

The corporate has onboarded over 7,000 third-party mechanics throughout three workshops in Lagos servicing B2B prospects: Shuttlers, Moove, Tolaram Group and Kobo. It expenses about 15% fee charges –10% from service expenses and 5% from spare components expenses.

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