Autowave highlights the ever-growing car key market

Autowave CEO Ravi Kotecha believes car keys and key programming have been a bit of a taboo in the automotive aftermarket in previous years. Lack of information, high cost of entry and inconsistent supply are among his reasons; however, he is confident that is set to change.

The company is overseeing a surge in interest and exposure, which is creating a shift in the market and making this set of products an area of opportunity:

Autowave specialises in the production, development and supply of car keys and car key cutting and programming equipment. With the head office in Nottingham, we have a production facility in Shenzhen, China and a distribution centre in Bucharest, Romania.

Historically supplying auto locksmiths, the last two years have seen a spike in supply to motor factors and consequently garages. You have the opportunity to either offer a spare key service to existing trade and retail customers and benefit from a huge margin, or you could sell equipment packages to garage customers and hold a profile of keys and remotes to offer as a continuous revenue stream.

Sales of equipment is becoming easier, as we see more garages are looking for new services to offer existing customers and the entry point is low. This can be offered alongside any diagnostic tools and equipment already being sold. Whilst dedicated auto locksmiths are doing a great job, the demand for keys amongst the 40 million-plus cars on the road is too high for the circa 5,000 auto locksmiths in the UK.

For most trades in the UK, whether it be builders, electricians, plumbers or mechanics the convenience of going to a local factor or trade counter is paramount; however, this is not available currently for anyone programming car keys, be it an auto locksmith or garage.

Lookup of Autowave keys, remotes and transponders via VRM is live on Autocat, so application data is available to you. From a supply-only perspective, there are thousands of locksmiths and garages nationwide that are forced to order online but are seeking a same-day service or local supplier to collect from. Car keys are just another vehicle component, so why shouldn’t they be bought by the trade in the same way a brake pad or wishbone is sold?

Increasing numbers of garages already have good quality diagnostic equipment and technicians have the ability to use them; therefore, car key programming is a perfect additional service to offer customers to this type of garage.

Factors taking advantage

Many factors have already successfully entered this market in various capacities; an example being Motor Parts Direct, which have equipped all 175-plus branches with key cutting and programming equipment, successfully delivering a spare key service in their branches nationwide – with the support from Autowave.

Conclusion

Now is the time to join the ever-growing car key market, and Autowave is ready to support you on that journey. With our aftersales and tech support, training facilities and expansive product range, we’re confident we can tailor an offering to suit your existing customers and drive new customers to you.