Key Stats to Know About the Automotive Aftermarket

Published on: 12 March 2019 Last Updated on: 30 March 2024

Riding on the back of the booming Italian and US auto markets and the development of autonomous vehicles, the global automotive aftermarket industry is progressing

After over 10 consecutive years of growth following the global economic depression of 2008, the global automotive aftermarket reveals interesting data from the automotive industry. Let’s see together what the state of the global automotive aftermarket is and the various future projections.

The automotive aftermarket: 2018 in review:

The year 2018 for the global aftermarket ended positively. According to data processed by the ANFIA Components Group, the turnover of the spare parts increased by 0.8% last year compared to 2017.

Looking at the performance of individual product families in Italy, 4 out of 5 have a positive trend. The body and interior components had significant increase while in 2017, they had remained substantially stable. This was followed by increases in electrical and electronic components which recorded the greatest contraction in the previous year.

The only parts with a negative sign in 2018 is that of engine components (-7.9%), which worsens its performance compared to 2017, when it had closed at -0.2%.

Analysts point out that the two-figure increase recorded by the family of body and interior components. In this case, one can link to the fact that the renewal of the Italian fleet, which has now reached a median age of almost 11 years for passenger cars, proceeds slowly. According to them, this helps to ensure some continuity in maintenance work for older vehicles.

You Must Know about the Aftermarket review in 2018:

On the family of electrical and electronic components, researchers must say that, the increasingly central electronics and telematics had great roles to play here. While on the one hand, they have contributed to reducing the margin of human error in maintenance and repair operations. The electronics and telematics aftermarket offer products that are more reliable and safe. This market has also increased the sale of spare parts of this type and the maintenance and repair interventions on increasingly complex components.

On the other hand, the decrease in the turnover of the engine components can be attributed in general terms. According to ANFIA, to the fact that the increasingly high level of quality of the components of the car, guarantees an extension of the average life. This, for complex systems such as the engine system, means that no replacement or repair work is necessary without major failures.

Aside from the above information, there are hundreds of other trends and statistics to consider when it comes to the automotive market. Let’s take a look at them, shall we?

Trends and statistics in the global automotive aftermarket:

1. In the last decade, the average usage of the vehicle fleet in the US has increased by about 17%

2. The length of use of new and already used vehicles over the last decade has increased by 60%

3. While 25% of the auto spare parts repair is handled by dealerships, 75% is done by independent repair shops.

4. 56% of automotive decision-makers predict a 30 to 50% decrease in the number of physical outlets by 2025, according to KPMG. As is with virtually all merchandise around the world, the automotive aftermarket industry is going electronic (online) and its marketplace is evolving. Parts and even repair services are being sold and offered online.

Additional trends and statistics in the global automotive aftermarket:

5. The irruption of the autonomous vehicle into the public space would offer more flexibility and profitability for all stakeholders. For example, 43% of respondents in a study conducted by KPMG say that current vehicle owners no longer plan to own the traditional car by 2025.

6. One can’t expect the demand for diesel engine replacement to thaw out quickly. Although diesel has become politically and socially unacceptable in many countries, the use of this fuel remains technologically and economically relevant for 50% of decision-makers worldwide. This figure even increased by 3 points in 2017 and illustrates the uncertainties that manufacturers face in this transition period.

7. As the world continues to anticipate the mass production of autonomous vehicles, the market is bracing up for an increase in demand of auto cooling systems such as the small AC compressor offered by Rigid for electric vehicles and car cabins. According to a report by Transparency Market Research, the automotive cooling system market will exceed $64b by 2026. During the period of forecast, the CAGR is expected to expand over 4%.

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Used Car Buying – How To Do It Right.

Used cars tend to be the most popular amongst UK drivers and it can be easy to see why. Second-hand cars have a lower purchase price, suffer from less depreciation and there is an endless amount of choice! The main disadvantage of buying a used car is the lack of knowledge regarding its history. When you buy a new car, you will be the first owner and don’t have to second guess how the car’s been treated or if it’s been involved in an accident. Reduce the risk of something going wrong with your next used car purchase by following these top tips below for safe car buying. Know your affordability. Before you make any large purchase, you should know how much you can afford to pay for it. This can speed up the buying process if you only shop for cars within your budget. Your budget may be one lump sum to pay for a car with cash or spread the cost into monthly payments with finance. Whichever way you choose to buy your next used car, you should try not to stray from your budget as you may get into a deal that you can’t afford to pay back. Check the market value. Once you know how much you can spend on a used car, it’s time to see which cars you could buy. A quick internet search of local, trusted dealerships can help you to find used cars you can afford. It also gives you an idea of how much the cars you like would cost. For example, if you’re striving for a used BMW on finance, knowing how much it would cost to buy one can give you an idea of how much your monthly budget could be. Knowing the market value of the cars you want to buy also helps if you’re buying with cash and wanting to negotiate the price. If there’s a similar model from a dealer down the road but with a lower price, you could use this as leverage or get a better deal. Check credit score for finance. No matter if you’re looking for finance for a Volkswagen or a Porsche, the first thing you should do is to check your credit score. Your credit score can affect your ability to get approved for finance and not knowing where you fall on the credit scale can be costly. A low credit score can make it harder to get approved if your low score is due to missed or late payments in the past or a lack of credit history. This is because you are seen as more of a risk to lenders and are more likely to default on future loans too. If you need to improve your credit score you should do so before applying for finance. Check insurance rates. If you’re buying your first car, insurance rates can be some of the highest around. Newly qualified drivers are more likely to have a road accident in their first year of driving which bumps up the premium. Searching around for cheaper cars to insure and in your budget could help you save money. buying a used car isn’t just about the initial purchase price but also about being able to afford the running cost too. Use a reputable dealership. You can buy a second-hand car from a dealer or private seller but to help protect your purchase, you should consider buying your car from a reputable and trusted dealer in the UK. Buying from a dealer gives you an added layer of protection and means you are covered by the Consumer Rights Act 2015. This act means you are entitled to a full refund, repair, or replacement if the car is not as described or fit for purpose. Check the status of the dealer with the FCA and read verified reviews of other customers before committing to the sale. Check the history of the car. Used cars run the risk of having a hidden history but you can check the history of a car you are interested in buying for free. You can check the tax and MOT status of a car and get more information by simply entering the registration number into the DVLA website. You can also make a one-off payment of around £10 with a trusted Car History Check website to see if the car has been stolen, previously written off or still has existing finance on it. Test drive and check the vehicle. Before you commit to buying a used car, you should always test drive it first to see how you like it. Take the car out for at least 30 minutes, drive it on different types of roads, and perform maneuvers to get a feel of how it drives. Also, take this opportunity to park up somewhere and check over the vehicle for any imperfections or damage. Read Also: Beginners Guide To Buying A Classic Car Buying a Used Car? Few Negotiating tips, you can use Used car: simple steps for buying from a reliable cars dealership

Lyft vs Uber: What’s the Difference Between the Ridesharing Giants?

Are you in need of a ride? Instead of calling a random taxi, why not call an Uber? You need to know some basics on lyft vs uber. Everyone knows Uber nowadays. Ridesharing grew from being a dream to a tangible service. 30% of people in the United States used ridesharing apps to book rides to reach places. This time, there are two companies in a clash on who comes on top. Should you go with Lyft vs. Uber? Which one offers better service or lower prices? Here is the difference between Lyft and Uber(or lyft vs uber): 1. Lyft vs Uber: The Overview: In case you are unaware of what these two are, Uber and Lyft are companies that brought about the ridesharing service into the market. They both offer means of providing rides for the public and they both use smartphones as the primary mode of access. First, the customer hails a ride through the use of a phone app. Customers use the app to set up their current location as the starting point and then their destination. Nearby drivers licensed with the app can then see the new customer. It will then be a matter of time until one driver decides to agree and pick up the rider. This makes the process of getting a means of transport easier no matter where you are or what time it's. For riders, you simply need the app. If you want to learn how to join as Lyft or Uber drivers, you need to secure a CPC certification first. Thinking between Lyft vs. Uber? Not sure of the benefits of each or how much they cost? Let's start the comparison now and see which company is better. 2. Pricing: First, let's look at the Uber vs Lyft price comparison. Despite the similarity in services, they charge the customers with different rates and fare calculations. For Uber, you simply add the base fare price, the cost per minute, and the distance of your ride. The final charge also includes the cost for the vehicle class you chose and the demand for rideshares in your location. During times where the demand is at the peak, Uber implements "surge pricing." This adds a multiplier to the ride price. While the ride prices vary due to these factors, the app allows customers to estimate their fares ahead of time. Lyft starts on a similar foothold. It calculates the fare according to the distance, the time elapsed, location, vehicle class, and the base fare. Like Uber, Lyft adds in a "prime time" charge when you hail a ride during peak hours. The base fare is where the discrepancies fall in. Uber is more affordable when compared to Lyft. That said, Lyft can show the exact amount customers will pay. Uber only shows an estimated amount. For this, Lyft becomes the preferred choice for ridesharing during peak hours. This is due to having a cheaper offer with their prices compared to Uber. 3. Technology and Smartphone Apps: Both Lyft and Uber(lyft vs uber) are using similar smartphone apps when it comes to the purpose of booking rides. The apps pick up the addresses of the trip end-points, track the vehicle via GPS, provide shorter routes during navigation, and it also accepts electronic payment and ratings. Uber took about two years to develop its smartphone app. While Lyft developed theirs after the initial company launch. Uber manages to provide a real-time update of cost. This is a helpful feature in noting the traffic congestion and wait time, especially when these are factors that lead to higher trip costs. In comparison, Lyft is rather subtle and a bit secretive about peak hour pricing. However, when it comes to the phones used for work, Uber drivers end incurring a $10 weekly cost to use the pre-supplied phones. Lyft, on the other hand, allows you to load the app on a personal phone to do the work. 4. Vehicles in Use: The vehicle class is one aspect that can shape your experience when taking a ride from any of these two companies. However, it boils down on the options that they provide. For Lyft, they have a default option where you have an everyday sedan with room for four passengers. Then there is Lyft Line where riders share the same rides if they're on the same route. You also have Lift Plus, a step up to the regular Lyft as it has room for six passengers. If you're looking for a luxury ride then you can avail of Lyft Premier. For Uber, there are various options available as well. UberPOOL is a carpool service for multiple passengers. UberX is a budget option that provides a vehicle with room for up to four passengers. UberXL steps this up by using an SUV with seating that can fit up to six people. Then there's UberSELECT, offering a four-door luxury sedan with seating for 4 passengers. UberBLACK is the main service that Uber offers, featuring high-end luxury vehicles with four-passenger seating. UberSUV, the most expensive offering so far, has a high-end SUV with a six-passenger seating. Uber leans towards businesspeople. Thus, drivers are more professional and concise. And they are there to make sure you reach your destination. Lyft drivers are more open to conversation. They may also have a creative approach to the ride, making it livelier. Depending on the feel that you want for the trip, this should give you a clear answer. For a professional drive, Uber is a great choice. If you want something a bit more fun and casual, Lyft is perfect. 5. Coverage Areas: Now, with areas of availability, there is a clear distinction between the two. Lyft is available in 46 states within the US and Canada. Despite the number, the company is on aggressive expansion. So this might change sometime soon. Meanwhile, Uber is available in 58 countries and 300 cities worldwide. It shows the scope of how huge Uber is, compared to Lyft, Uber having the upper hand. Get Started with Ridesharing Today! Choosing between Lyft vs Uber comes down to budget and preference. When it comes to picking which one is better, both sides show their strengths and weaknesses. It boils down to the feel of the trip as you ride, the costs, and even the available vehicles. Whichever you choose, it's clear that both companies have started a trend that will continue for years to come. Therefore, now you know the basics on lyft vs uber. Did you find this post useful? We have several posts covering a wide range of topics that you can check out. You can start by checking this one out on the top apps that can help you manage your finances. Read Also: Will Self-Driving Cars Replace Human Error? How To Choose The Best And Most Reliable Carpool Service

7 Auto Lockout Solutions That Can Save Your Day

Many times, people forget their car keys inside and get locked out of their own car. As all the cars now come with a central locking system, it is almost impossible for owners to open their cars when they leave the key inside them. However, there are many things you can do if you get locked out of your car. The best way to open your car is to call an automotive locksmith, but this is not the only way. Let us explore all the ways to unlock your car in case you get locked out. Understanding Auto Lockout: A Brief Overview An auto lockout can happen at any moment. However, it is not a good situation to experience, especially during an emergency. It is a situation when you forget your key inside your car and lock yourself outside. One of the most obvious solutions to this is to get professional assistance. However, there are certain tips you can follow to save time. Moreover, you can also transform this frustrating situation into a manageable one. Thereby, you can save both time and money and reduce stress. Hence, to learn more, read the next sections of the article. Common Causes Of Auto Lockout If you want to prevent an auto lockout from happening, it is essential to learn the common causes that cause it. The following are the most frequent reasons why an auto lockout event happens: Forgetfulness:It is one of the most common causes of auto lockout. For instance, if you have a busy schedule, you might leave your keys behind. Hence, you must develop habits to reduce forgetfulness. Mechanism Failure:It is common for machine parts to be susceptible to wear and tear. Since the car is a machine, it can also face such problems. On the other hand, the lock system might be jammed or outdated. Faulty Key Fobs:Key fobs are important, especially in the age of technology. However, they can face malfunctions. For instance, battery problems or electronic issues might enable key fobs to react faultily. What To Do In Case Of An Auto Lockout? The following are some tips you can follow if you are in a situation of auto lockout: 1. Contact Your Car Company If you have the customer care number of your car company, you can call them to assist you in opening the lock. Even if you don’t have their customer service number, you can search it online on your phone and call them for assistance. They will tell you an alternative procedure to open your car or send a professional to assist you in unlocking it. Some car companies may send a professional to unlock your car as they have people who are experts in using alternative methods to offer solutions to their customers. 2. Look for the Spare Key Sometimes, car owners have a spare key with them that they don’t remember. Think about where you kept the spare keys. If you have one in your pocket, you can use it to open your car. Many people have a spare key at home. If you have a spare key at your home, you can call someone to get it for you if your home is not too far from the location where you get locked out. However, if you are far away from your home, you can call an automotive locksmith to open it for you. 3. Tow the Car to a Safe Place: If you have no option to unlock the car, you can tow the car to your home or a safe place. However, hiring a towing service can be more expensive than hiring a locksmith. Therefore, you should keep this as the last option if nothing else works. 4. Look Where You Have an Open Window Pane Sometimes, people prefer driving with open windowpanes. If a pane on the driving side is open, you can put your arm inside and take out the key to unlock the door. However, if all the windowpanes are closed, you cannot opt for this method. 5. Look for Roadside Assistance Some car insurance companies offer roadside assistance, but many don’t offer it in their policy. You can also search for roadside assistance online on your smartphone. Call one of the companies, and they will send a professional technician to unlock your car or help you to take it to a garage. If your insurance policy offers roadside assistance, you should save its information on your phone so that you can use it in such conditions. 6. Warranty Services Most car companies offer a warranty, and many of the warranties also cover the costs of a lockout. If your car warranty covers the same, you can use it for roadside assistance in case of a lockout. It can be a wise decision to use roadside assistance covered by your car warrant without the need to purchase redundant coverage. 7. Call an Automotive Locksmith The best way to unlock your locked car is to call an automotive locksmith for assistance. However, to use this method, you need to know about the best locksmith service in your area. If you have not left your phone inside the car, you can also search online for the best locksmith service and call it immediately from your phone. For example, Allcoast Locksmiths is a reputed company offering service on the Central Coast and Lake Macquarie, Australia. They have been offering locksmith services in these areas for over 15 years. If you need a locksmith service in any of these areas, this is a company you can rely upon. You can call them in an emergency auto lockout, home, or office lockout for assistance. Auto Lockout: The Best Solution These are some tips you can try during an automotive lockout. Following these ideas can get you out of the situation and make you drive your car again. It is best to know the best locksmith service in your area so that you can call them in such situations. Do you have some more suggestions on how to resolve an auto lockout situation? Please share your ideas and opinions in the comments section below. Read Also: Choosing the Right Anti-Theft Devices For Your Car In Houston TX 5 Tips to Safeguard Your Home From Intruders Should you Replace or Rekey Locks? — What Locksmith Richmond says Expert Advice: 5 Crucial Things to Do Immediately After an Automobile Accident

Key Stats to Know About the Automotive Aftermarket

The automotive aftermarket: 2018 in review:

You Must Know about the Aftermarket review in 2018:

Trends and statistics in the global automotive aftermarket:

Additional trends and statistics in the global automotive aftermarket:

4 Things You Need To Know About Commercial Truck Insurance

The perfect auto insurance company just for you

Content Rally

Content Rally wrapped around an online publication where you can publish your own intellectuals. It is a publishing platform designed to make great stories by content creators. This is your era, your place to be online. So come forward share your views, thoughts and ideas via Content Rally.

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Used Car Buying – How To Do It Right.

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7 Auto Lockout Solutions That Can Save Your Day

Key Stats to Know About the Automotive Aftermarket

The automotive aftermarket: 2018 in review:

You Must Know about the Aftermarket review in 2018:

Trends and statistics in the global automotive aftermarket:

Additional trends and statistics in the global automotive aftermarket:

Share this Article

4 Things You Need To Know About Commercial Truck Insurance

The perfect auto insurance company just for you

Content Rally wrapped around an online publication where you can publish your own intellectuals. It is a publishing platform designed to make great stories by content creators. This is your era, your place to be online. So come forward share your views, thoughts and ideas via Content Rally.

Leave a Reply

Popular

Follow Us

Recent

Related