Strategy re-vamp for a European Sports Car manufacturer present in India and losing market share to competition
About the Client
The client is an Italian sports car manufacturer that was present in India through an importer / dealer. Although the client had been in India, it was unable to tap into the market successfully and was losing market share to competition.
The client chose Tecnova to re-look at its India model and evaluate whether it was the right approach for the next five years – in alignment with the potential opportunity in India. Further, it wanted us to recommend on the right business models and chalk out financial plans to turnaround the client’s India business performance. Finally the client wanted us to implement the right plan to expand and capture market share in India.
TECNOVA’S APPROACH AND SOLUTION
Tecnova conducted a complete assessment of the Indian market for the client to quantify the opportunity over next five years, analyse competitor strategy, presence mode and reach and future plans.
A very important part of the study was to deep dive into target customer segment (high net worth individuals) to know their needs and preferences.
Further, Tecnova prepared conducted a detailed demand projection exercise for the client covering next five years. In terms of suitable model, we evaluated the various options related to the right legal structure/direct subsidiary in India. Once that was finalized Tecnova helped the client in preparing strategy for and in implementing decisions related to Logistics and warehousing, Imports, Location analysis, manpower requirements keeping in mind a robust road map for future.
- In-depth understanding of the target customer segment requirements and preferences
- Market forecasts – optimistic, realistic and pessimistic – using regression models
- Market size assessment for premium luxury and sports vehicles including new and used vehicles
- Complete compliance check of current dealer along with performance check with competitors in India – leading to identification of best performers in the market (dealers / importers) for future reference
- Process for importing and homologation in the country along with timeline and pricing
- Ideal logistics model for importing vehicles into India from Europe or Singapore