The automotive aftermarket is the secondary market of the automotive
industry, concerned with the manufacturing, remanufacturing, distribution, retailing,
and installation of all vehicle parts, chemicals, equipment, and accessories, after
the sale of the automobile by the original equipment manufacturer (OEM) to the
consumer. The parts, accessories, etc. for sale may or may not be manufactured
by the OEM. According to a report by the International Trade Administration in
the Department of Commerce, "Aftermarket
parts are divided into two categories: replacement parts and accessories.
Replacement parts are automotive parts built or remanufactured to replace OE
parts as they become worn or damaged. Accessories are parts made for comfort,
convenience, performance, safety, or customization, and are designed for add-on
after the original sale of the motor vehicle.
Over the years, Indian Auto Spare
Parts sector has witnessed a slow yet steady growth. It has emerged as the
preferred manufacturing hub for auto components due to various reasons. Some of
them are:
- The long-established
manufacturing industry of India
- Low-priced workforce and
easy availability of raw materials making India cost competitive
- Operational units of leading
global auto component makers like Meritor, Visteon, Bosch, etc in India
- Both auto makers and auto
components makers have established their International Purchasing Offices
(IPOs) in the nation
- World class quality auto
spare components are manufactured in the country
- Research and development
activities are conducted in India for global firms like Johnson Controls,
Daimler Chrysler, Suzuki, General Motors, etc.
·
He is bullish not just on the market
opportunity, but also the fact that numerous vertically focused e-commerce
companies are capturing a large chunk of online market share in India. He
cities Pepperfry, Zivame, Lenskart, Firstcry and Bluestone.
At present, the site is focusing only on the passenger car market.
·
SparesHub
is selling to direct car owners all over India. Two months ago, they started
their B2B foray by selling offline over telephone to garage owners in Pune city.
Over 20 garages have liked their idea and have agreed to partner with them. “We
are reaching out to garage owners using our field sales team one city at a
time. After Pune, we plan to start selling to garage owners in Nagpur,
Aurangabad, and Nashik etc. We are also building a network of ‘SparesHub.com
Certified Garages’ throughout India starting with Pune. For more details visit
our website allindiayellowpage.com.