Greaves Cotton’s retail unit inaugurates the first-ever master distributor outlet for AutoEVMart.
It’s Cotton’s retail unit, Greaves Retail has inaugurated the first-ever master distributor outlet of the AutoEVMart in Chennai.
Inaugurating master distributor outlet for AutoEVMart
Greaves Cotton’s retail unit, Greaves Retail has inaugurated the first-ever master distributor outlet of the AutoEVMart in Chennai. The outlet is located at G.N.T Road, Thandalkalani Village, Puzhal. This pioneering concept aims to revolutionise the electric 3-wheeler industry by addressing key concerns such as transportation charges and Minimum Order Quantities (MOQ) for dealers, reaffirming Greaves Retail’s commitment to industry transformation.
For AutoEVMart and associated OEMs, the master distributor concept would act as a growth driver, facilitating market expansion without direct involvement in every transaction. This will enable OEMs to focus on strategic growth initiatives and brand development while leveraging the expertise of the master distributor in managing day-to-day operations. With the master distributor serving as the local point of contact, customer service will be elevated, ensuring prompt responses to inquiries, effective management of warranty claims and swift issue resolution.
The master distributor outlet in Chennai will serve as a launch pad for the establishment of multiple dealerships across the city, fostering market accessibility. This innovative approach will also enable smaller dealerships to access a diverse range of electric 3-wheelers from a variety of OEMs, empowering them to cater to a variety of customer preferences and demands, ultimately boosting sales potential.
Greaves Cotton commonly known as Greaves is one of the leading and diversified engineering companies in India with a rich legacy and brand trust of many years impacting a million lives every day.
Stock price movement
On Wednesday, the stock opened at Rs 140.95 and touched a high and low of Rs 141.50 and Rs 133.20, respectively. The BSE group ‘A’ stock of face value of Rs 2 has a 52-week high and low of Rs 164.80 and Rs 118.70, respectively. Last one week high and low of the scrip stood at Rs 143.70 and Rs 133.20, respectively. The current market cap of the company is Rs 3,101.84 crore. The promoters holding in the company stood at 56%, while Institutions and Non-Institutions held 8.00% and 36%, respectively.
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