GoMechanic aims for revival after its acquisition by team led by Lifelong Group

New Delhi: GoMechanic, an automotive service company, has overcome challenges and has made a strong comeback. As per the company, GoMechanic has emerged stronger after the strategic acquisition guided by Stride Ventures and led by the Lifelong Group in partnership with Servizzy. This strategic acquisition empowered the brand to retain its loyal customer base and continue providing employment opportunities within the highly unorganised car repair industry in India, the company said.
According to the company, GoMechanic has garages every 5 km in major metro cities such as Mumbai, Hyderabad, Chennai, Delhi, and more. The company had an impressive performance during the first quarter of fiscal year 2023-24. Between April and June 2023, GoMechanic serviced more than 68,500 cars across India. This performance marks a 30% growth in both service revenue and Gross Merchandise Value (GMV) during the initial quarter following the acquisition in March 2023.

The “Miles Membership” loyalty program, including GoMechanic’s Annual Maintenance Contract, has experienced a surge in this quarter. As per the company, the NPS of the business has gone back to the peak levels of approx 50 across app users indicating restored confidence of both customers and workshop ecosystem partners.

GoMechanic has also relaunched its Car Accessories across online-offline channels on Amazon, Flipkart, and Cred Plus, and through distributors in the offline market, ensuring a seamless shopping experience for customers. The company is actively re-establishing networks with valued channel partners to expand distribution and provide easy access to a diverse range of automotive accessories.

In January, 2023, ETAuto reported that GoMechanic let go off about 70% of its workforce as it struggled to raise money for more than a year despite having advanced-stage conversations with various investors.

As per the company, the new Servizzy team has leveraged the expertise of the Lifelong Group to put GoMechanic on a path of solid recovery. The acquisition achieved with the assistance of Avlon Business Consulting rescued the brand, preserving its market value and enabling it to retain customers based on the value and quality offered.

GoMechanic’s technology-driven approach and emphasis on quality assurance directly address the critical issues faced by the industry, offering reliable services, improved profit margins, and a larger market share for vendors.