Don’t overlook European possibilities

Jan. 1, 2020
With all the media coverage regarding the European economies, the many opportunities for automotive and heavy duty parts exporters may be overlooked.
With all the media coverage regarding the European economies, the many opportunities for automotive and heavy duty parts exporters may be overlooked.

The European Union's 27 member states are home to more than 500 million consumers, according to the latest figures from the U.S. Commercial Service. The U.S. and the EU enjoy a mature economic relationship with massive two-way trade of $560 billion and an extensive $3 trillion two-way investment relationship.

U.S.-EU trade has continued to grow, despite the world financial situation. The U.S. Commercial Service noted that U.S. exports of goods and services to the EU-27 in 2010 were an estimated $240 billion.

The “World Motor Vehicle Market Report,” published by the Overseas Automotive Council (OAC) of the Automotive Aftermarket Suppliers Association (AASA), reports the region also has one of the world’s largest car populations, running a close second to the United States.

Europe is the world’s largest vehicle producer with an output of more than 17 million passenger cars, vans, trucks and buses per year or 25 percent of worldwide vehicle production, according to the ACEA (Association des Constructeurs Européens d’Automobiles), the European Automobile Manufacturers’ Association.

ACEA also notes that, similar to the U.S. car parc, the average age of cars in the EU is 8.2 years old. This is the prime age for automotive aftermarket products. According to CLEPA, the European Association of automotive suppliers, the EU aftermarket is expected to reach 230 billion euro by 2020.

For companies involved in global trade, complying with different labeling requirements can be expensive, tricky and often inefficient. As noted in this column before, the U.S. Commercial Service is an invaluable resource for U.S. companies seeking to export products. The EU market has many vehicle and product labeling requirements which the Commercial Service can assist in navigating. More details are at the agency’s Web site.

The biennial Automechanika Frankfurt – coming up on Tuesday, Sept. 11, through Sunday, Sept. 16, in Frankfurt, Germany – is an excellent venue to learn more about the EU market and gain important industry contacts. Nearly 154,000 visitors attended the 2010 event, almost 70,000 of whom were from outside Germany.

Automechanika Frankfurt presents the entire process chain in the European automotive aftermarket. The event includes the following product segments:

  • Parts & Systems
  • Accessories & Tuning
  • Repair & Maintenance
  • IT & Management
  • Service Station & Car Wash

AASA, OAC and the Motor & Equipment Manufacturers Association (MEMA) are supporting associations of Automechanika Frankfurt and will be active on members’ behalf at the event. The associations’ exhibit will serve as a convenient meeting place for members and will provide excellent networking opportunities with representatives of international markets. The AASA OAC Reception at Automechanika Frankfurt on Thursday, Sept. 13, is an opportunity to increase corporate international visibility, entertain important customers and connect with European buyers. More details are available at the OAC events page.

The EU market offers opportunities for savvy suppliers willing to explore global networking. AASA and OAC provide the networking needed to open new world markets – visit www.oac-intl.org for details.

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