July 24, 2021
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Vehicle submerged in Colorado pool inspires perfect response from local police
The scorching hot used car market may finally be cooling off
Chippewa Falls man helps others one bicycle at a time
Penske Automotive Group and Cox Automotive Debut Automated Platform for Retailing Used Vehicles
DC police ask for help to ID vehicle used in shooting death of 6-year-old
EV Stocks Could Fly This Summer
Solon Bicycle moves to new location | Destination
HAAH gives up on Chinese cars, will file for bankruptcy
Kansas City police say officers shot at man when vehicle continued to approach them during traffic stop
Brent Spence Bridge project 50% complete, transportation cabinet says
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Vehicle submerged in Colorado pool inspires perfect response from local police The scorching hot used car market may finally be cooling off Chippewa Falls man helps others one bicycle at a time Penske Automotive Group and Cox Automotive Debut Automated Platform for Retailing Used Vehicles DC police ask for help to ID vehicle used in shooting death of 6-year-old EV Stocks Could Fly This Summer Solon Bicycle moves to new location | Destination HAAH gives up on Chinese cars, will file for bankruptcy Kansas City police say officers shot at man when vehicle continued to approach them during traffic stop Brent Spence Bridge project 50% complete, transportation cabinet says
Jul
2021
20

Automotive Transformation Group Created to Revolutionise Vehicle Sales Enabling Billions in Online Sales as Industry Rapidly Digitises

In an industry first, by integrating the data, products, services and technology across its portfolio, the Group will connect car maker, financiers, dealer and consumer in the most efficient way possible. An essential component is connecting finance data, the core thread of new and used vehicle sales. Seamlessly integrating this will unlock the barriers to offering a complete ‘omnichannel’ customer experience – blending physical showrooms and the virtual world – from first sale, through aftersales and re-sale.

The commercial gains on offer are vast. Based on the 77 million new cars sold globally in 2020, with a value of $2.5 trillion**, a 1% shift in ecommerce sales would equate to $25 billion in revenue. And that’s without factoring in the potential of global used car sales – the forecast for Europe in 2025 alone is €357 billion*.

The Automotive Transformation Group is also looking to help its customers to improve their profitability. By leveraging its products and services to cut transaction times and reduce sales process costs, the industry could generate an additional £2.2 billion per year in global profitability based on an extra £142 per new vehicle sale.***

The new Group already handles one transaction every 3.5 minutes ($4.25 billion annually) and has an unrivalled experience and operational scale in the industry. The company serves more than 20 car manufacturers in over 10,000 locations across 96 countries.

Commenting on the launch of the Automotive Transformation Group, Chairman David Riemenschneider said: “The digitalisation of the sales process is advancing at an unrelenting pace. The Automotive market, which is one of the largest in the world, has lagged other sectors in terms of the speed of transition to online sales, but that is changing rapidly. Until now, the cost and complexity of integrating each element of an online and offline experience into a brand consistent omnichannel one, has prevented it being delivered at scale. The Automotive Transformation Group aims to change that. By joining up the dots we will enable car manufacturers, financiers and retailers to unlock the huge potential and efficiencies in today’s sales process and overall value chain. And now is the time to act.”

CEO Christian Erlandson added, “Since we announced the merger between Autofutura and GForces, we have been engaged in strategic discussions with some of the biggest players in the industry. This demonstrates just how dynamic the automotive industry is and how fast it is shifting towards digitalisation. We offer something truly unique. By connecting vehicles and consumers, serving the right offer, at the right time, to the right customer and then facilitating the seamless transition from one vehicle to another, we are streamlining the customer journey, right from the first transaction. We believe the companies which we support will not just have happier, longer standing customers, they will also be even more successful as a result of the substantial efficiencies they have achieved.”

*, **Car sales and forecast data (Frost & Sullivan, May 2021)

***Calculations based on Automotive Transformation Group proprietary UK

Jul
2021
18

Raw material costs rising for automotive industry: BofA report

Widespread inflation has led to the highest raw material cost per U.S. vehicle since 2011, a new Bank of America (BAC) Global Research report found.

The report examines the recent bout of US inflation and examines its consequences for the automotive industry.

One key takeaway from the report is that the cost of raw materials has risen sharply since mid-2020. “In the past year, the raw material cost in an average U.S. vehicle has been steadily rising, increasing ~87% from a low point of approximately $2,200/unit in Apr ’20 to now roughly $4,125/unit in May ’21,” the report found. “During this raw material cost inflation, average transaction prices seem to have stalled, although [they] still remain elevated at record high levels.”

The compressing spread between rising raw material prices and stagnating average transaction prices is expected to increase pressure on automakers and suppliers’ respective financial bottom lines.

The average vehicle is composed of 39% steel and 11% aluminum. The increase in raw materials cost has been concentrated heavily in high steel prices; the Bank of America report estimated that the average cost per pound for steel used in automotive manufacturing has increased 106% year over year as of last month. This is “relatively alarming,” according to the report, given the high makeup of steel in the average vehicle.

North England

Suppliers and original equipment managers (OEMs) are expected to bear the brunt of rising material costs, with the latter facing even greater exposure to indirect costs from the former.

Rising inflation costs, plus pre-existing damage to supply chains caused by the pandemic present problems for both groups. “The automotive value chain is already facing significant headwinds from supply chain disruptions and production stoppages,” the report noted, “which continue to pressure margins in addition to rising raw material costs.”

The costs of raw materials have risen so greatly that they now make up a significantly larger percentage of the price of a vehicle. “The cost of raw materials in an average vehicle as a % of the average transaction price (ATP) in the U.S. reached historical lows around 6% (5.9% in April ’20) at the beginning of the COVID-19 pandemic, driven by historically low raw material costs and all-time high average transaction prices,” the report found. “However, this cost ratio has since increased, now reaching ~11%, as commodity prices have bounced materially off of lows and ATPs have remained near peak levels.”

By the end of spring, raw material costs had approached post-2000 historical levels, while average transaction prices remained essentially unchanged, posing “significant headwind for companies at the front end of the value chain,” according to the report.

Rising inflation has been an issue of concern for several months now, with the Bureau of Economic Analysis reporting Friday that the price index tracking personal consumption expenditure (PEC) rose 3.9% year over year as of May 2021. This is the index’s highest level since April of 2008.

The automotive industry has faced a shortage of new vehicles as

Jul
2021
15

Chevy Bolt EV belonging to Vermont lawmaker who has backed industry catches fire

The Vermont State Police released this photo of the 2019 Chevrolet Bolt EV that caught fire on July 1, 2021 in the driveway of state Rep. Timothy Briglin, a Democrat.

Vermont State Police

A Chevrolet electric vehicle owned by a Vermont state lawmaker who has backed the industry recently caught fire while charging in the politician’s driveway, according to Vermont State Police.

The vehicle, a 2019 Chevrolet Bolt EV, is part of a recall of nearly 69,000 of the electric vehicles globally due to fire risks that was announced in November by General Motors and the National Highway Traffic Safety Administration.

State Rep. Timothy Briglin, a Democrat, told authorities the EV had been serviced for the recall in recent weeks, Vermont State Police Det. Sgt. Matthew Hill said Wednesday. That could mean the repair was not done correctly; it’s not a solution for the fires; or there’s another problem with the vehicle.

GM said in a statement sent to CNBC on Wednesday that company officials are “in touch with authorities to understand the specific circumstances.” They also have “reached out to the customer and are actively investigating the incident.” A spokesman for the Detroit automaker declined to comment further on the fire until the company has access to the vehicle and its investigation is complete.

Hill said he had not been contacted yet by GM regarding the incident, which he said occurred while the vehicle was plugged in to charge.

The fire is the most recent to highlight an ongoing concern of automakers and vehicle safety watchdogs as companies release an influx of new electric vehicles in the coming years. Automakers have continually touted the environmental benefits of EVs, however, the lithium-ion batteries that power the vehicles can be dangerous and result in significant chemical fires if something goes wrong.

The Biden administration has been a proponent of EVs, including the Chevrolet Bolt EV. The vehicle was featured in a video last week touting President Joe Biden’s infrastructure plan, expanding U.S. charging stations and converting the government’s vehicle fleet to EVs. 

Similar to previous fires

The Vermont State Police said the cause of the fire “appears to be an undetermined electrical system failure” that started within the passenger compartment in the area of the back seat. The origin of the fire is consistent with a handful of previous fires reported to federal regulators and the company in Bolt EVs.

Briglin — who is chair of the state House Committee on Energy and Technology and has supported EVs, including co-sponsoring a bill relating to electric and plug-in hybrid EV incentives — did not immediately respond to a request for comment. Officials with the NHTSA and local fire department also did not immediately respond to requests for comment.

The fire was reported at about 9 a.m. Thursday at Briglin’s house in Thetford, Vermont, according to a release from Vermont State Police and public records. No injuries were reported.

GM recalled the vehicles in November over electrical fires it said were caused by

Feb
2021
22

automotive industry | History, Overview, Definition, Developments, & Facts

Although steam-powered road vehicles were produced earlier, the origins of the automotive industry are rooted in the development of the gasoline engine in the 1860s and ’70s, principally in France and Germany. By the beginning of the 20th century, German and French manufacturers had been joined by British, Italian, and American makers.

Developments before World War I

Most early automobile companies were small shops, hundreds of which each produced a few handmade cars, and nearly all of which abandoned the business soon after going into it. The handful that survived into the era of large-scale production had certain characteristics in common. First, they fell into one of three well-defined categories: they were makers of bicycles, such as Opel in Germany and Morris in Great Britain; builders of horse-drawn vehicles, such as Durant and Studebaker in the United States; or, most frequently, machinery manufacturers. The kinds of machinery included stationary gas engines (Daimler of Germany, Lanchester of Britain, Olds of the United States), marine engines (Vauxhall of Britain), machine tools (Leland of the United States), sheep-shearing machinery (Wolseley of Britain), washing machines (Peerless of the United States), sewing machines (White of the United States), and woodworking and milling machinery (Panhard and Levassor of France). One American company, Pierce, made birdcages, and another, Buick, made plumbing fixtures, including the first enameled cast-iron bathtub. Two notable exceptions to the general pattern were Rolls-Royce in Britain and Ford in the United States, both of which were founded as carmakers by partners who combined engineering talent and business skill.

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In the United States almost all of the producers were assemblers who put together components and parts that were manufactured by separate firms. The assembly technique also lent itself to an advantageous method of financing. It was possible to begin building motor vehicles with a minimal investment of capital by buying parts on credit and selling the finished cars for cash; the cash sale from manufacturer to dealer has been integral in the marketing of motor vehicles in the United States ever since. European automotive firms of this period tended to be more self-sufficient.

The pioneer automobile manufacturer not only had to solve the technical and financial problems of getting into production but also had to make a basic decision about what to produce. After the first success of the gasoline engine, there was widespread experimentation with steam and electricity. For a brief period the electric automobile actually enjoyed the greatest acceptance because it was quiet and easy to operate, but the limitations imposed by battery capacity proved competitively fatal. Especially popular with women, electric cars remained in limited production well into the 1920s. One of the longest-surviving makers, Detroit Electric Car Company, operated on a regular basis through 1929.

Steam power, a more serious rival, was aided by the general adoption, after 1900, of the so-called flash boiler, in which steam could be raised rapidly. The steam car was easy

Jan
2021
22

Automotive industry – Wikipedia

Organizations involved with motor vehicles

The automotive industry comprises a wide range of companies and organizations involved in the design, development, manufacturing, marketing, and selling of motor vehicles.[1] It is one of the world’s largest industries by revenue. The automotive industry does not include industries dedicated to the maintenance of automobiles following delivery to the end-user,[citation needed] such as automobile repair shops and motor fuel filling stations.

The word automotive comes from the Greek autos (self), and Latin motivus (of motion), referring to any form of self-powered vehicle.[clarification needed] This term, as proposed by Elmer Sperry[2][need quotation to verify]
(1860-1930), first came into use with reference to automobiles in 1898.[3]

History[edit]

Fiat assembly line in 1961

The automotive industry began in the 1860s with hundreds of manufacturers that pioneered the horseless carriage. For many decades, the United States led the world in total automobile production. In 1929, before the Great Depression, the world had 32,028,500 automobiles in use, and the U.S. automobile industry produced over 90% of them. At that time, the U.S. had one car per 4.87 persons.[4] After 1945, the U.S. produced about 75 percent of world’s auto production. In 1980, the U.S. was overtaken by Japan and then became world’s leader again in 1994. In 2006, Japan narrowly passed the U.S. in production and held this rank until 2009, when China took the top spot with 13.8 million units. With 19.3 million units manufactured in 2012, China almost doubled the U.S. production of 10.3 million units, while Japan was in third place with 9.9 million units.[5] From 1970 (140 models) over 1998 (260 models) to 2012 (684 models), the number of automobile models in the U.S. has grown exponentially.[6]

Safety is a state that implies to be protected from any risk, danger, damage or cause of injury. In the automotive industry, safety means that users, operators or manufacturers do not face any risk or danger coming from the motor vehicle or its spare parts. Safety for the automobiles themselves, implies that there is no risk of damage.

Safety in the automotive industry is particularly important and therefore highly regulated. Automobiles and other motor vehicles have to comply with a certain number of regulations, whether local or international, in order to be accepted on the market. The standard ISO 26262, is considered as one of the best practice framework for achieving automotive functional safety.[7]

In case of safety issues, danger, product defect or faulty procedure during the manufacturing of the motor vehicle, the maker can request to return either a batch or the entire production run. This procedure is called product recall. Product recalls happen in every industry and can be production-related or stem from the raw material.

Product and operation tests and inspections at different stages of the value chain are made to avoid these product recalls by ensuring end-user security and safety and compliance with the automotive

Nov
2020
2

automobile | Definition, History, Industry, Design, & Facts

Automotive design

The modern automobile is a complex technical system employing subsystems with specific design functions. Some of these consist of thousands of component parts that have evolved from breakthroughs in existing technology or from new technologies such as electronic computers, high-strength plastics, and new alloys of steel and nonferrous metals. Some subsystems have come about as a result of factors such as air pollution, safety legislation, and competition between manufacturers throughout the world.

Passenger cars have emerged as the primary means of family transportation, with an estimated 1.4 billion in operation worldwide. About one-quarter of these are in the United States, where more than three trillion miles (almost five trillion kilometres) are traveled each year. In recent years, Americans have been offered hundreds of different models, about half of them from foreign manufacturers. To capitalize on their proprietary technological advances, manufacturers introduce new designs ever more frequently. With some 70 million new units built each year worldwide, manufacturers have been able to split the market into many very small segments that nonetheless remain profitable.

New technical developments are recognized to be the key to successful competition. Research and development engineers and scientists have been employed by all automobile manufacturers and suppliers to improve the body, chassis, engine, drivetrain, control systems, safety systems, and emission-control systems.

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These outstanding technical advancements are not made without economic consequences. According to a study by Ward’s Communications Incorporated, the average cost for a new American car increased $4,700 (in terms of the value of the dollar in 2000) between 1980 and 2001 because of mandated safety and emission-control performance requirements (such as the addition of air bags and catalytic converters). New requirements continued to be implemented in subsequent years. The addition of computer technology was another factor driving up car prices, which increased by 29 percent between 2009 and 2019. This is in addition to the consumer costs associated with engineering improvements in fuel economy, which may be offset by reduced fuel purchases.

Vehicle design depends to a large extent on its intended use. Automobiles for off-road use must be durable, simple systems with high resistance to severe overloads and extremes in operating conditions. Conversely, products that are intended for high-speed, limited-access road systems require more passenger comfort options, increased engine performance, and optimized high-speed handling and vehicle stability. Stability depends principally on the distribution of weight between the front and rear wheels, the height of the centre of gravity and its position relative to the aerodynamic centre of pressure of the vehicle, suspension characteristics, and the selection of which wheels are used for propulsion. Weight distribution depends principally on the location and size of the engine. The common practice of front-mounted engines exploits the stability that is more readily achieved with this layout. The development of aluminum engines and new manufacturing processes has, however, made it possible

May
2020
12

Automotive Media Partners, LLC – Serving Auto Industry Leaders, Car Dealers and High Quality Suppliers

New feature offered as free trial to help dealers sell vehicles during COVID-19Albany, N.Y. – May 11, 2020 – Auto/Mate, a business unit of DealerSocket, has added a remote signing feature to its eDEAL™ Signature Capture digital contracting tool. The new feature is being offered to Auto/Mate’s current eDEAL customers as a free trial, helping them to overcome adverse sales conditions and close more deals while COVID-19 shelter-in-place mandates are still enforced state by state. “We’ve recognized the importance of embracing digital retailing over the past few years,” said Mike Esposito, president of Auto/Mate. “And given the present circumstances, this type of technology has now become more important than ever. We challenged our developers to quickly step up to the plate and provide a solution to a serious problem impacting dealers, and they exceeded all expectations.” When a car buyer agrees to purchase a vehicle over the phone, the dealership representative sends the F&I documents via email. The customer clicks on the link in the email to open the electronic documents and begin the signing process. Similar to how home buyers use DocuSign for real estate documents, all the customer has to do is sign once, then tap to apply their signature and/or initials where indicated. During the signing, the dealer rep can stay on the phone to guide the customer through the process. Once complete, the final documents are turned into a ZIP file and emailed to the customer. Auto/Mate’s eDEAL Signature Capture allows F&I managers to easily capture signatures, store electronically signed documents, and email digital deal jackets to customers. eDEAL Signature Capture can be used on any mobile tablet and resides in Sales & Finance, Auto/Mate’s one-stop-shop for creating and closing deals. All forms are stored as digital PDFs right in the DMS, eliminating the need for physical file storage and 3rd-party scanning solutions. For more information, visit www.automate.com/dms/variable-ops/edeal/ About DealerSocketDealerSocket is a leading provider of software for the automotive industry, offering a suite of seamlessly integrated products to help dealers sell and service vehicles more profitably while improving their customers’ experience. DealerSocket’s suite of products gives dealers of all sizes advanced Customer Relationship Management (CRM), innovative Digital Retail, Marketing and Websites, robust Vehicle Inventory Management, insightful Analytics Reporting, and solutions to streamline dealer operations such as Desking, Credit Reporting, Compliance, an independent-geared Dealer Management System (DMS), as well as Auto/Mate, a leader in DMS. DealerSocket serves more than 9,000 dealerships and 300,000 users. DealerSocket’s software has helped its customers sell more than 100 million vehicles throughout its history. For more information, visit DealerSocket.com, or follow us on Twitter, LinkedIn, and Facebook.About Auto/MateAuto/Mate Dealership Systems is a leading provider of dealership management system software to retail automotive dealerships, typically saving dealers thousands of dollars per month from their current provider. AMPS® is a user-friendly, feature-rich DMS in use by more than 1,600 auto dealers nationwide. Auto/Mate has received multiple consecutive DrivingSales Dealer Satisfaction Awards.Auto/Mate’s employees have more than 1,600 years of combined experience working in franchised
May
2020
8

BERA: Issue 2 Automotive Industry: Global Automotive Industry

Increasing global trade has enabled the growth in world commercial distribution systems, which has also expanded global competition amongst the automobile manufacturers. Japanese automakers in particular, have instituted innovative production methods by modifying the U.S. manufacturing model, as well as adapting and utilizing technology to enhance production and increase product competition.

There are a number of trends that can be identified by examining the global automotive market, which can be divided into the following factors:4

Global Market Dynamics – The world’s largest automobile manufacturers continue to invest into production facilities in emerging markets in order to reduce production costs. These emerging markets include Latin America, China, Malaysia and other markets in Southeast Asia.

U.S. automakers, “The Big Three” (GM, Ford and Chrysler) have merged with, and in some cases established commercial strategic partnerships with other European and Japanese automobile manufacturers. Overall, there has been a trend by the world automakers to expand in overseas markets.

Industry Consolidation – Increasing global competition amongst the global manufacturers and positioning within foreign markets has divided the world’s automakers into three tiers, the first tier being GM, Ford, Toyota, Honda and Volkswagen, and the two remaining tier manufacturers attempting to consolidate or merge with other lower tier automakers to compete with the first tier companies.

1st Tier Company Mergers – Volkswagen-Lamborgini; BMW-Rolls Royce
2nd Tier Company Mergers – Chrysler-Mercedes Benz; Renault-Nissan-Fiat
3rd Tier Company Mergers – Mazda-Mitsubishi; Kia-Volvo

This section presents literature that examines three major automotive markets in North America, Europe and East Asia. This material is intended to provide a thorough examination of industry trends, structure, and the effects of global market dynamics of the automotive industry within each region, as well as their interrelationships, followed by literature researching the East Asian automotive market.

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Research on the Global Automobile Industry

The Beyond BRIC Auto Markets: A Close Look at Four Clusters: An In-Depth Look at the Challenges and Opportunities. Boston Consulting Group, October 22, 2013.
https://www.bcgperspectives.com/content/articles/…_close_look_four_clusters/ External Link

The full report is only available to subscribers but this is looking at BRIC countries – Brazil, Russia, India and China.

Fitch Solutions
https://store.fitchsolutions.com/autosExternal Link

Fitch Solutions (formerly BMI) produces industry reports by country available for purchase online.

Global Auto Report Scotia Bank, March 13, 2017.
http://www.gbm.scotiabank.com/scpt/gbm/scotiaeconomics63/GAR_2017-03-13.pdf External Link [PDF format: 287 KB/9 p.]

Brief overview of the automotive industry worldwide.

Hashmi, Aamir Rafique and Johannes Van Biesebroeck. Market Structure and Innovation [electronic resource] : a dynamic analysis of the global automobile industry. Cambridge, MA : National Bureau of Economic Research, c2010.
LC Catalog Record: 2010655999
Full text on NBER web site External Link

This is a study of the relationship between market structure and innovation in the global automobile industry from 1982 to 2004.

Hiraoka, Leslie. S. Global Alliances in the Motor Vehicle Industry. Westport, CT: Quorum Books, 2001.
LC Call Number: HD9710.A2 H57 2001
LC Catalog Record: 00037269

This study examines the origins, consequences, and trends of globalization in the motor vehicle industry, with chapters on transplants from Japan, US recovery, the DaimlerChrysler merger NAFTA,

May
2020
6

Investing in the Industry in 2020

How to evaluate top transportation stocks

You’ll see some commonalities if you invest in transportation stocks. To assess how these companies will fare, keep the following in mind.

Fuel costs

Transportation companies use a lot of energy to get things where they need to go. They’re therefore sensitive to crude oil prices and fuel costs. Whether they use jet fuel for planes, diesel for trucks and trains, or a combination of electricity and natural gas to run updated equipment, the best transportation companies seek to be as fuel-efficient as they can be.

Debt

It’s expensive for transportation companies to buy the equipment they need. Financing purchases through long-term debt can be smart, but the best companies keep their debt levels from getting unsustainably high.

Economic strength

When the economy is strong, transportation companies tend to do well, because plenty of people and businesses want to ship things. But shipping demand can fall dramatically during tough economic times. Investors have to get used to the ups and downs of the transportation industry in response to changing conditions in the global economy.

Competition

It’s common for several companies to fight for the same group of customers. For instance, even just in the U.S., you’ll find carriers like American Airlines Group (NASDAQ:AAL), Southwest Airlines (NYSE:LUV), and JetBlue (NASDAQ:JBLU) fighting against Delta and their other peers. With airlines, comparing how full each company’s planes are and whether they’re making profits can tell you a lot about which players are strong and which are weak. Similar looks at key metrics like capacity and profitability in other parts of the transportation sector can be equally valuable in assessing whether one stock is better than another.

Source Article

May
2020
5

Automotive Aftermarket Industry Trends – Global Report 2026

Published Date: Oct 2019  |  Report ID: GMI1166  |  Authors: Kiran Pulidindi, Hemant Pandey

Industry Trends

Automotive Aftermarket size valued at USD 923.1 billion in 2018 and will grow at a CAGR of 5.5% from 2019 to 2026.

 

U.S. Automotive Aftermarket By Sales Outlet

Get more details on this report – Request Free Sample PDF

 

Automotive aftermarket, frequently referred to as secondary market, manufactures and supplies spare parts, accessories and other components for various automobiles. Aftermarket industry provides services such as repair and maintenance for the vehicles. It is highly consumer driven and undergoing changes with evolving consumer expectations, technological advancement and changing dynamics. Shifts in competitive power in emerging economies contribute to transforming the industry landscape periodically. New technology in terms of innovative components and logistics are set to reduce gap between OEM and aftermarket offerings.

 

Surging pre-owned vehicle sales in turn help propel the repair and maintenance side of the automotive market, for improved vehicle performance. Growing middle class population in conjunction with increasing purchasing power is driving the vehicle sales and providing potential opportunities for aftermarket part manufacturers and supply chain providers. Ageing vehicle fleet, along with growing demand for replacement parts will further escalate the revenue generation in next few years.

 

Usage of sensor technology in vehicles provides optimum driving behavior that leads to less wear and tear of vehicle parts including brakes and tires. This reduces the replacement requirement that may hamper the automotive aftermarket industry growth. Ongoing R&D for new materials to decrease the deterioration wear and tear of vehicle parts that limit the product penetration. For instance, in March 2019, UBC Okanagan, University of Toronto and Sharif University of Technology developed self-lubricant brakes for cars. The carbon fiber-infused polymer-based brake are expected to provide high performance over wide range of temperatures with smaller brake pads and higher performance life.

 

Automotive Aftermarket Report Coverage
Report Coverage Details
Base Year: 2018 Market Size in 2018: 923.1 Billion (USD)
Historical Data for: 2016 to 2018 Forecast Period: 2019 to 2026
Forecast Period 2019 to 2026 CAGR: 5.5% 2026 Value Projection: 1,430.5 Billion (USD)
Pages: 254 Tables, Charts & Figures: 278
Geographies covered (18): U.S., Canada, Germany, UK, Russia, Poland, France, China, India, South Korea, Japan, Indonesia, Thailand, Brazil, Mexico, Argentina, South Africa, Saudi Arabia
Segments covered: Product, Sales Outlet, Region
Companies covered (25): Lear Corporation, BASF SE, YAZAKI Corporation, Cooper Tire & Rubber Company, ALCO Filters Ltd, Continental AG, Bridgestone Corporation, Delphi automotive PLC, Denso Corporation, Hella KGaA Hueck & Co, 3M, Akebono Brake Corporation, Federal-Mogul Holdings LLC, Shandong Zhengnuo Group Co., Ltd, ASIMCO, ACDelco, Faurecia USA Holdings, Inc, Magnetic Marelli, Robert Bosch GmbH, Aisin Seiki, Hyundai Mobis Co., Ltd, Johnson Controls, Toyota Motor Corporation, ZF FRIEDRICHSHAFEN AG, Magna International, Inc.
Growth Drivers:
  • Growing demand for vehicle upgradation along with digitization of distribution channels
  • Increasing vehicle sales of new and preowned vehicles
  • Ageing vehicle fleet along with poor road infrastructure
Pitfalls & Challenges:
  • Adoption of vehicle safety technologies and rising electric vehicle sales

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