By Adedapo Adesanya
A Nigerian platform, Mecho Autotech, which provides global automotive spare parts and vehicle repairs and maintenance services, has announced plans to launch a marketplace for high-quality aftermarket spare parts and original OEM spare parts for wholesalers and enterprise fleet owners.
This is as it plans to launch version 2.0 of its vehicle management app that connects vehicle owners to qualified and vetted mechanics in the third quarter of this year.
In a statement on Wednesday, the auto-maintenance firm announced that the soon-to-be-launched products signal a shift in strategy as Mecho looks to double down on improving Nigeria’s $6 billion fragmented and informal automotive aftersales market, which is characterized by substandard automotive spare parts and frequent stockouts.
Among its new features, customers can access financing to pay for vehicle repairs and maintenance to preserve their cash flow. After undergoing an easy and fast verification process, eligible customers can receive overdrafts of up to N10 million, which are deposited in the Mecho app wallet.
Customers also have more flexible servicing options: they can drop off their vehicles at any of Mecho’s 100 partner workshops in Lagos, Abuja, and Port Harcourt or arrange for pick-up.
In the improved 2.0 Mecho app, customers can track all their expenses, maintenance requests, and vehicle history, while corporate fleet owners can manage multiple mechanics, including Mecho and other 3rd party service providers, to streamline the maintenance and repairs process in one easy-to-use app.
Mecho will also roll out an IOT integration allowing corporate fleet owners to track their vehicles on the 2.0 vehicle management app, which will be free to use.
The intended Mecho Mart, a marketplace for high-quality aftermarket and original OEM spare parts for wholesalers and enterprise fleet owners, will allow customers to buy genuine auto parts like tires, shock absorbers, brake pads, lubricants, and filters.
Using the marketplace, spare parts wholesalers can stock up on inventory with top-quality parts, secure financing, and increase profit by avoiding stockouts.
With support from Global Brains, a Japanese venture capital firm that invested a seven-figure sum in the company, Mecho aims to build partnerships with global automotive aftermarket spare parts manufacturers to source genuine and affordable spare parts to build a reliable vehicle spare parts supply chain in Nigeria.
Speaking on this, the CEO/co-founder of the firm, Mr Olusegun Owoade, said, “We learned that we had to prioritize fixing the broken automotive spare parts supply chain — a more urgent problem in the industry and a bigger driver of its value.”
“Spare parts represent $6 billion out of Nigeria’s $8 billion vehicle aftersales market. Since we pivoted our business, we have serviced more than 50 corporate fleet owners and spare parts wholesalers and provided spare parts from 5 global automotive manufacturers. By improving the availability of high-quality spare parts, we believe that we can play a role in improving Nigerians’ vehicle longevity and road safety,” he said.
Founded in 2021 by Messrs Olusegun Owoade and Ayoola Akinkunmi, Mecho Autotech offers repair and maintenance services to businesses and consumers through in-house and third-party service capacity, which has passed rigorous assessments.