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Tag: spare parts

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

 

 

 

 

 

Auto Comercial Monedero: 25 years of history

Monedero celebrates its quarter century with the largest investment in its history in the development of new products.

Auto Comercial Monedero was born in 1998 in Motilla del Palancar as a small repair shop for engines, gearboxes and differentials. At that time, the team consisted of two mechanics, an apprentice and a spare parts salesman.

At the beginning, the workshop was managed by José Luis Monedero, father of the current manager, Daniel Monedero, who took over the management in 2004.

Brand distribution

In 2005, with the evolution of the company, they moved to renovated facilities (where they still are today, although after several renovations and extensions). Furthermore, Monedero decided to travel to trade fairs and try to work with alternative brands, the first one being Kaçmazlar. It was in 2009, when this manufacturer gave him the exclusive distribution of its products for all of Spain, which was a before and after regarding this line of business.

In 2010, when Monedero became the official distributor of Meritor, the first OEM brand. In addition, we managed to be among the top distributors of the brand, which strengthened Monedero as a distributor of spare parts nationwide.

Official ZF Service

In the year 2017, Auto Comercial Monedero is established as an Official ZF Service, which involves not only the distribution of official ZF spare parts, but also technical service, repair, training, etc. From this point on, not only the distribution, but also the after-sales service is taken over.

Thus, Auto Comercial Monedero has access to manuals, programming and technical training. Daniel Monedero emphasizes that “thanks to being an Official ZF Service, they provide technical assistance and maintenance to their customers, which translates into increased confidence on their part”.

The rise of Monedero products

Over the years, Monedero begins to offer its own products to nearby countries under a stronger strategy. Thus, in 2014, the first Monedero product was launched: a conical pair.

For the development of this reference, a significant investment was made, which was amortized shortly after, resulting in a complete success for the brand. The fact is that all brands had products that broke down and often there were no spare parts for these products on the alternative market. Therefore, this was an important competitive advantage for the company with respect to its competitors.

Auto Comercial Monedero relies on ITECAM, the technology center of Castilla-La Mancha and the Industrial Technology Park of the University of Albacete for the development of its products. Its commitment to investment in reverse engineering has led it to develop a wide range of its own products.

Among them, we can highlight the launch of the Scania DT12 application Monoblock in 2018 and the MAN D2066 application monoblock engine cylinder head in 2019. Of the latter, more than 1,000 are marketed per year… making it a great success and paying off its investment in the first year!

Internationalization

Due to the unstoppable success of Monedero products, it was decided to carry out an internationalization strategy. Trade missions began in 2013, visiting countries such as Colombia, Chile, Peru, Romania, Cuba, Ecuador and Morocco to publicize its own products abroad and establish synergies. In addition, a commitment was made to international trade fairs, the first one being in 2016.

It was in 2017, when the export department was created with the aim of defining strategies and giving importance to the internationalization process within the company.

Currently, thanks to the establishment of effective strategies, Auto Comercial Monedero operates in the five continents and is in more than 70 countries.

Future objectives

Monedero is starting to include other product segments for passenger cars or vans, with the aim of continuing to focus on expanding its portfolio of brands such as V.I.L. cylinder heads and industrial application products. For this reason, in 2023, coinciding with the celebration of its 25th anniversar, it will make the largest investment in the development of new products in its history.

At the same time, it is committed to investing in R&D to make a major technological change, because it is working on the development and digitization of warehouses.

Its eagerness to follow the latest technological trends led it last year to the creation of the new platform and online store for professionals (B2B) and among its goals is to increase sales through this channel, to work for the automation of processes.

All this thanks to the work of the #TeamMonedero, qualified professionals who bring their talent to make you go far.
 Monedero, closer than ever, close as always

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