Mumbai:German auto parts maker Blaupunkt is considering a 10% stake acquisition this year as the company generates revenue online and has a wide range of products suitable for the retail channel.

“Currently, (online) accounts for 6-7% of sales, and we expect it to account for about 10% of financial profits. We have also launched some DIYYY products this year and we have seen a good performance online since the start of the year. “We have a wide range of products available offline,” Managing Director Pankaj Jagwani told PTI.

“This difference allows us to sell very aggressively online without affecting the margins of distributors and retailers. Depending on the product and features, the price difference is around 8 to 10 percent,” he added.

Last year’s sales of Rs 75 crore are expected to grow by 20% to Rs 90 crore this year. /p “Like in small towns, the growth is mainly indoors. People are buying more compact cars, often without factory-installed radios, which have a few accessories at best.”

Jagwani expects sales to recover during the festive season due to strong consumer demand after the implementation of Goods and Services Tax, (GST).

“Sales slowed down in June and July as dealers cleared their inventories due to GST, but we can see things improving from the end of July. There was a lot of pent-up demand, so it was a festive season.” He pointed out that people are delaying their purchases as prices will come down after the implementation of GST.

The company has been operating in India since 1998 and has ventured into OEM and aftermarket business, which currently accounts for about 15-16% of its global sales.

Blaupunkt has a market share of 8-9% in the automotive segment. The infotainment segment plans to increase its market share to 15% in the next five years.

“We are also looking to expand into other electronics in the next five years and we are developing various products in the driver assistance segment.”