Leading B2B platform from Just Dial, JD Mart, reported that it has seen a 400% rise in demand for high-security registration plates (HSRP) on its site.
Demand in Tier-I cities grew by 311% and in Tier-II by 252%. Among Tier-I, Delhi, Bengaluru, and Mumbai were the top three markets, while Coimbatore, Jaipur, Chandigarh, Lucknow, and Ernakulam were the top five Tier-II markets that saw maximum demand for number plates, the company noted.
The increase in demand for HSRP is in line with the fact that the state governments have introduced steep fines for vehicle owners if they fail to comply with the regulations, the company added.
Moreover, the demand for auto components and spare parts on a YoY basis grew by 39% across the country. The demand in Tier-I cities increased by 41% and in Tier-II by 27%, with GPS trackers, disc brakes, LED fog lamps, and car batteries among the top five searched automobile spare parts, the release from the company stated.
The national capital that also sees maximum car thefts across the country witnessed maximum demand for GPS trackers, followed by Mumbai, Pune, Bengaluru, and Coimbatore; this is because the car owners in top cities in the country are in a rush to keep their vehicles safe, the release added. Along with Coimbatore, the top five Tier-II cities that saw maximum demand were Bijapur, Gandhinagar, Chandigarh, and Ranchi.
According to the report, the demand for disc brakes also soared across the country as well. Pune, Kolhapur, Delhi, Rajkot, Chennai, Hyderabad, Kanchipuram, Mumbai, Ahmedabad, and Coimbatore were the top ten cities in the country that saw maximum demand, the report said.
The winter season also saw a significant demand upswing for LED fog lamps across the country, with Delhi, Mumbai, Chennai, Solapur, Pune, and Hyderabad generating maximum demand.
Delhi topped the demand list for car batteries at a pan-India level, followed by Mumbai, Bangalore, Pune, Hyderabad, Chennai, Chandigarh, Indore, Ludhiana, and Ahmedabad.
Prasun Kumar, CMO, Just Dial, said, “We are delighted to witness that search for automotive components is now happening online. The market has been highly fragmented. We have already matched the suppliers with demand in Tier-I, and the growth figures in Tier-II are encouraging as well. The industry that is estimated to be around INR 3.4 lakh crore is expected to witness double-digit growth this year, and JD Mart will be a catalyst in this.”