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Tag: aftermarket

The aftermarket sector is boomming

The spare parts distribution grew 15% in the first quarter of 20

The National Association of Equipment, Parts and Accessories Dealers (ANCERA) highlights in its survey of the first quarter of 2023 the significant increase in independent parts distribution. In addition, the report highlights that around 95% of the spare parts dealers have reported to the association to have increased their sales during that period.

This is positive news for a sector that is currently being affected by the shortage of raw materials, rising energy and logistics costs, as well as the war in Ukraine. These factors are causing a lot of uncertainty in the aftermarket.

Do you want to know all the news in the aftermarket sector? Don’t miss our post and become an #ExpertoMonedero!

What is aftermarket?

First of all, a clear and concise definition of the term aftermarket should be provided, as sometimes even professionals may have doubts about what it covers.

The term aftermarket refers to the secondary market for vehicle parts and accessories. This sector covers everything from the manufacture and installation of components to their distribution and sale.

Thanks to it, vehicle owners can maintain and customize their cars with high quality parts, but at a more economical price than that of the original car manufacturers.

Now that you know what the aftermarket is and what it comprises, you may wonder… What are the short and medium-term prospects? Read on!

Trends

As we highlighted at the beginning of this post, spare parts distribution grew by 15% during the first quarter of 2023. Likewise, all forecasts seem to indicate that this growth will continue throughout 2023, but in a much more moderate way.

The ANCERA study forecasts that the sector will grow by 8% during the second quarter and end the year with an increase of 7%. However, these figures can only be confirmed once this period has elapsed. Even so, everything seems to indicate that 2023 will be positive for the aftermarket sector.

During the meeting held at the end of March by the Spare Parts Commission of the Spanish Association of Automotive Suppliers (SERNAUTO), the trends and opportunities in the aftermarket sector were analyzed. At the meeting, Harpreet Singh, partner of L.E.K. Consulting, presented the trends affecting the aftermarket in the medium and long term.

According to Harpreet Singh, the following factors could be decisive for the coming months in this market:

  1. The penetration of electric vehicles and Advanced Driving Assistance Systems (ADAS).
  2. The rise of connectivity.
  3. The change in consumer preferences.

In turn, during the workshop held at the SERNAUTO meeting, other trends for the aftermarket were analyzed such as:

4. Synthetic fuels.
5. Distribution through e-commerce platforms.
6. The importance and need for training as a tool for brand positioning in workshops.

Will these macro trends be implemented? Everything seems to point to yes, however, due to the uncertainty in the aftermarket, the business opportunities proposed for the medium term are being reconsidered for the long term.

As we mentioned at the beginning of this blog, the aftermarket sector is suffering great uncertainty due to several factors such as the shortage of raw materials, the increase in energy and logistics costs, as well as the war in Ukraine.

Where we come from?

But… What factors and trends have led us to the current situation in the aftermarket world? The McKinsey report, announced in 2017 what would be the trends for the coming years in the sector, which have been (and will continue to be) fulfilled in the medium term. These are:

  • The rise of the Asian market, which is characterized by rapid development and very competitive prices.
  • The importance of connectivity and data exchange.
  • Independent after-sales. Increasingly, manufacturers are working towards having their own independent distribution networks.
  • Increase in online services. Thanks to the development of new technologies, companies in the sector can offer their services through digital channels, streamlining processes.
  • Increased price competitiveness, due to the growth of the sector and the development of business in Asia, a country that offers very competitive prices.

Conclusion

Everything seems to indicate that the growth of the first quarter will continue throughout the year, albeit more slowly.

Thus, the macro trends that will affect the distribution of spare parts have been analyzed and it has been possible to foresee that there will be a slowdown of these due to the situation of uncertainty that the sector is suffering.

Do you want to keep learning with #ACMonedero? Don’t miss our blog! The #ACMonederoTeam is composed of a large number of experts in the automotive sector… We will inform you of the latest news!

Monedero, makes you go far

 

 

 

 

 

MONEDERO, ZF SERVICE PARTNER

Auto Comercial Monedero is a partner of ZF Aftermarket and specializes in repair and diagnosis of systems and axles, which allows it to offer personalized technical advice to its customers.

Since its beginnings in 1998, Auto Comercial Monedero has specialized in the ZF brand, adapting the necessary resources to offer a high quality service. In this long trajectory of 25 years, Monedero has opted for total integration with the ZF brand, setting various objectives at a strategic level thanks to this alliance.

Thus, in 2017 it is designated ZF Service Partner in Spain, which has been a great success for the company. Moreover, this has allowed the company to achieve the established objectives: to increase competitiveness and position itself as a benchmark company at the national level within the industrial spare parts sector.

If you want to know what it means to be a Service Partner, as well as the advantages you enjoy… Keep reading and #BecomeExpert!

More than 100 years of ZF

The company was founded in 1895 as a family-owned mechanical engineering company. Over the years, ZF has taken advantage of its business opportunities and has developed and specialized to become a global technology and mobility company.

ZF Aftermarket owns brands and products of the highest quality. Thus, they always have the required OE-quality spare part at hand. Among the brands available are: ZF own brand, Lemförder, Sachs, TRW, Wabco and Boge.

Among the company’s values we can highlight its commitment to teamwork, passion, anticipation, diversity, empowerment, commitment and responsibility… the #EquipoMonedero could not feel more identified with these values!

What does it mean to be a ZF Service Partner?

Being a ZF Service Partner means that you are a partner of ZF Aftermarket, specialized in repair and diagnostics of transmission and axle systems – find out what we can offer you!

  • We provide specialized technical advice, as we have access to official ZF programs such as Service Data Management (SDM), Service Line and Customer Connect.
  • We provide technical training from ZF, we can even come to your facilities!
  • We have a large stock of all ZF Group brands, with competitive prices.
  • We quickly find the references you want, because we have direct access to the online store, the catalog and, in addition, we are in contact with ZF Aftermarket.

ZF Products

Do you want to know some of the most relevant ZF products? Here you can find them with their reference, and you can see all the technical details on our B2B web platform!

Monedero’s new B2B web platform provides you with more than 100,000 ZF references. Through this platform, you can consult the reference you need and its technical details. Do you want to know how to do it? Don’t miss the steps below!

Log in to our B2B web platform, register and take a look at our ZF products.

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