According to a research the average life of a car has increased to 11.6 years. This means more and more people are sticking to their vehicle for a longer time. This creates a sweet spot for the aftermarket car parts services. The spare & replacement parts market is flooded with millions of different types of […]
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Automobile is a key factor in lives of most of the people. The time people spend inside their respective vehicle is ever increasing thus leaving room for interaction. Automobile is becoming more and more important in day to day communication of activities. For 2016 in United States a total of 17.55 million vehicles were sold […]
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The aftermarket industry is the service sector economy which is very complex to predict as it exhibits high degree of uncertainty. There are billions of spare, replacement & performance parts linked with the industry. In definition aftermarket brings in scope of activities after the new automobile has been sold initially. Along with original equipment manufacturer […]
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There are a 13 different automotive manufacturers present in the United States namely Ford, GM, Chrysler, Toyota, Honda, Nissan, Hyundai-Kia, Mercedes Benz, BMW, Volkswagen, Mazda, Mitsubishi, and Subaru together they producre an average of over 8 million passenger car annually. The industry together with dealership and suppliers account for 3.5% of US gross domestic product. […]
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The margins of automotive industry is experiencing law of marginal utility and declining returns. With very high competition in the global market; manufacturers and distributors are competing in a very tight situation. The aftermarket services are giving some hope of new revenue generation to the dealers and manufacturers. With increase in average age of vehicle […]
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Targeting the electric and hybrid vehicles segment General Motors and Honda have jointly pledged $85 million as investment into plans for producing compact next generation hydrogen based fuel cell stack. The investment will materialize a production line at GM’s battery pack unit in Michigan. The GM plant is already under production; and the joint venture […]
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The aftermarket industry has been introduced to online service providers; online sales are experiencing an upward trend for sake of convenience and for conducting presales research of replacement parts and accessories for consumer to make informed decision and meaningful use. The online service providers offer quick access to the consumer of the replacement parts […]
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According to Grand View Research Inc. the global automotive aftermarket is projected to reach USD 486.36 billion by 2025. In the component manufacturing the advanced technology incorporations and digitalization of repairs and component sales are expected to boost the market. With rise in usage of semi autonomous & autonomous, hybrids and electric cars will bolster […]
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The Automotive aftermarket is a secondary market of the automotive market after the sale has been made. It is concerned with manufacturing, remanufacturing, retailing, distribution, chemicals, vehicle replacement parts, equipments and accessories after the vehicle has been sold by the OEM to the consumer. The parts may or may not be manufactured by original equipment […]
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According to Capgemini what’s happening in the emerging markets like Eastern Europe, Russia, China and India & established markets like North America and Western Europe decides the basis of the global market. With flat sales in Western Europe and increasing importance of emerging markets; the global aftermarket industry is expected to see significant change. Emerging […]
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