This latest version of Mecho’s flagship product will offer even more flexible features and financing options, helping corporate and private fleet owners streamline the auto repair and maintenance process.
LAGOS, NIGERIA – EQS Newswire – May 3, 2023 – Mecho Autotech (“Mecho”) (www.MechoAutotech.com), a Nigerian platform offering global auto parts and vehicle repair and maintenance services, will launch a v2.0 of its vehicle management app that connects vehicle owners with qualified and verified mechanics in the third quarter of this year. Mecho will also launch Mecho Mart, a marketplace for high-quality aftermarket and original OEM parts for wholesalers and business fleet owners. The soon-to-be-launched products signal a shift in strategy as Mecho seeks to double down on improving Nigeria’s fragmented and informal $6 billion auto aftermarket, which is characterized by substandard auto parts and stockouts frequent
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 quick verification process, eligible customers can receive overdrafts of up to N10 million, which are deposited into the Mecho app wallet. Customers also have more flexible service options – they can drop off their vehicles at any of Mecho’s 100 partner workshops in Lagos, Abuja and Port Harcourt, or arrange for collection. In the new and improved Mecho 2.0 app, customers can track all their expenses, maintenance requests and vehicle history. Corporate fleet owners can manage multiple mechanics, including Mecho and other third-party service providers, to streamline the maintenance and repair process in one easy-to-use app. Mecho will also implement an IOT integration that will allow corporate fleet owners to track their vehicles. The vehicle management application 2.0 will be free.
Also in the third quarter, Mecho will launch Mecho Mart, a marketplace for high-quality aftermarket and original OEM parts for wholesalers and business fleet owners. Customers will be able to purchase genuine auto parts such as tires, shock absorbers, brake pads, lubricants and filters. Through the marketplace, parts wholesalers can stock inventory with premium parts, secure financing, and increase profits by avoiding inventory. Backed by Global Brains (https://apo-opa.info/44kae3I), a Japanese venture capital firm that invested a seven-figure sum in the company, Mecho aims to establish partnerships with global manufacturers of spare parts ‘automobiles to obtain original spare parts. and affordable spare parts to build a reliable vehicle spare parts supply chain in Nigeria.
“When we launched two years ago, we focused on providing high-quality vehicle maintenance services. But over time we learned that we needed to prioritize repairing the broken auto parts supply chain: most pressing problem in the industry and a bigger problem. driver of its value. Spare parts account for $6 billion of Nigeria’s $8 billion vehicle aftermarket. Since we started our business, we have have served over 50 corporate fleet owners and parts wholesalers and have provided spare parts from 5 global car manufacturers.By improving the availability of high quality spare parts we believe we can play a role in of vehicle longevity and road safety for Nigerians,” said Olusegun Owoade Mecho Autotech CEO / Co-Founder.
Nigeria has over 12 million registered vehicles, of which over 90% are imported used vehicles. Given the predominance of used vehicles, the automotive aftermarket industry is highly fragmented and informal with a broken parts supply chain. Parts wholesalers have difficulty accessing original, high-quality parts, and suffer from frequent stock-outs as they cannot access the working capital to purchase inventory. Despite its informal and fragmented nature, Nigeria’s auto maintenance and aftermarket market is valued at about $8 billion. The average Nigerian vehicle owner spends between $50 and $60 a year on repairs and maintenance, of which 80% is spent on spare parts.
Please visit www.MechoAutotech.com to demo version v2.0 of vehicle management application. Spare parts wholesalers can sign up for Mecho Mart’s waiting list here (https://apo-opa.info/41Vwlvz).
Download the image: https://apo-opa.info/42meiyF (Mecho Autotech will launch the 2.0 version of the vehicle management application and the new auto parts market in the third quarter)
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ABOUT MECHO AUTOTECH:
Mecho Autotech is a Nigerian multi-channel platform offering global auto spare parts and vehicle repair and maintenance services. Mecho is on a mission to foster a culture of vehicle maintenance in Nigeria to keep the roads and passengers safe. Founded in 2021 by Olusegun Owoade and Ayoola Akinkunmi, Mecho Autotech provides repair and maintenance services to businesses and consumers through an in-house and third-party service capability that has passed rigorous assessments. The Mecho has mobile service and workshop capabilities.
When consumers download the Mecho Autotech app, they enter their vehicle’s unique identification number (VIN) or basic vehicle information. Based on vehicle specifications, the Mecho Autotech algorithm calculates a routine vehicle maintenance schedule and a subscription fee that can be paid monthly, quarterly, or annually. Mecho offers a mobile service to meet a customer at their own location if they prefer. Customers can also go to a Mecho Autotech workshop or partner garages to get the service. For business customers, Mecho Autotech can manage the needs of the entire fleet with the flexibility to request repairs on demand.
The Mecho trading app is available on both iOS and Android. More information at 
www.MechoAutotech.com.
