Key executives of North American light vehicle aftermarket suppliers based in China are predicting growth in the country’s aftermarket in both the independent aftermarket and original equipment service (OES) sectors during 2015.
This sentiment is one of the insights gained in the most recent “Member Trends” quarterly survey of members of the China Aftermarket Forum (CAF) of the Automotive Aftermarket Suppliers Association (AASA), the light vehicle aftermarket division of the Motor & Equipment Manufacturers Association (MEMA).
The majority of the CAF members participating in the survey reported sales growth during the fourth quarter of 2014. The majority of respondents also reported growth in both the independent and OES sectors. Hiring also has remained steady, according the CAF survey participants.
CAF members continue to identify counterfeit parts as one of the biggest issues facing aftermarket suppliers with operations in China.
The CAF is open to AASA members with operations in China. The CAF provides an opportunity for senior executives who manage China aftermarket operations for AASA members to meet quarterly and discuss industry issues and solutions, share best practices and network among peers. A popular feature of CAF’s meetings is the discussion of the results of the group’s quarterly survey of key business indicators, the “Member Trends” report. CAF membership benefits include discounts for trade shows and reports, access to market insights and much more.
For more information about AASA and its global outreach services, visit www.aftermarketsuppliers.org or email [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: CAF and the Overseas Automotive Council (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 programs and initiatives, 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. More information is available through its website, www.oac-intl.org.
AASA exclusively serves manufacturers of aftermarket components, tools and equipment, and related products, which support 710,000 employees in the United States.
Subscribe to Aftermarket Business World and receive articles like this every month….absolutely free. Click here.
