Business is good for global component suppliers due to strong growth in regional markets, according to a recent survey of members of the Overseas Automotive Council (OAC) of the Automotive Aftermarket Suppliers Association (AASA).
OAC board members were surveyed in late June regarding business conditions in global markets. Key highlights of the OAC “How’s Business” report are featured here.
The Caribbean, Mexico, Central and South America: A variety of conditions exist across this diverse geographic region. Countries such as Mexico, Panama, Peru and Columbia are showing a vibrant business environment. Members are seeing “protectionism” trends in some countries, and political/economic policies in Argentina and Venezuela are stifling business.
Colombia: The re-election of President Juan Manuel Santos is expected to bring another four years of economic stability and growth.
Middle East: The high price of oil is driving strong economies and constant growth despite various shaky political situations. However, the region struggles against counterfeited products.
Australia and Southeast Asia: These regions are stable, but are becoming more complex for suppliers as each year the regional car parc expands with more global platforms – a boost for exports, but requiring more effort with international catalogs.
Europe and Germany: 2014 is showing some recovery following a prolonged slump in car sales. Suppliers in parts of Europe are also seeing more positive signs.
The full “How’s Business” report was published in the July 16 issue of The Global Report, published monthly by AASA and OAC. To view the entire report, click here. The Global Report is one of the services that AASA and OAC provide to its supplier member companies to assist in expanding their global outreach. The Council organizes networking events at industry gatherings around the world to bring North American suppliers together with global customers. The annual OAC Global Reception on Tuesday, Nov. 4, is a networking event for suppliers and international customers during the Automotive Aftermarket Products Expo (AAPEX) in Las Vegas.
For more information about the OAC and its global outreach services, visit www.oac-intl.org or contact Curtis Draper at [email protected].
Editor’s note: Curtis Draper is vice president of industry analysis, programs and member services at AASA and executive director of AASA’s international aftermarket councils: the China Aftermarket Forum (CAF) and the OAC.
The CAF is a consortium of full-service suppliers that meet on a quarterly basis to discuss opportunities within the Chinese aftermarket and to identify ways to address challenges in the growing segment. For more details about CAF, click here.
The OAC promotes the sale in foreign markets of automotive and heavy-duty products manufactured in North America. Those products include components, accessories, chemicals, hand and power tools, service maintenance and repair equipment, and paint and body supplies for both cars and trucks. OAC has more than 350 members in more than 40 countries.
AASA exclusively serves manufacturers of aftermarket components, tools and equipment, and related products, which support 710,000 employees in the U.S. AASA is the light vehicle aftermarket division of the Motor & Equipment Manufacturers Association (MEMA).
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