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Car use declines in top economies; affordability outweighs auto tech for Gen Y car buyers; Indian automotive aftermarket could grow to $9.4B by 2015; business confidence among aftermarket leaders softens
The Automotive Aftermarket Industry Association will host an AAIA member pavilion at the Latin Auto Parts Expo in Panama City, Panama, from July 9 to 11. AAIA has partnered with the Latin Expo Group LLC, the trade show organiser, and is recruiting member companies to exhibit at the show. “We are extremely excited about this opportunity to increase our member companies’ international footprint,” said Kathleen Schmatz, AAIA president and CEO. More information on the Latin Auto Parts Expo is available online or by calling 786-293-5186. For AAIA member-specific questions please e-mail Arlene Davis or call 301-654-6664. Learn more.
The level of car travel remains stagnant in the US and other developed countries and has begun to drop in some cases, according to a report from the Organisation for Economic Cooperation and Development’s International Transport Forum. The trend can be attributed to such factors as the recession, fuel prices, “[s]lowing population growth, population ageing and increasing urbanisation”, the report said. “There is evidence that car use has also been reduced through policy intervention, particularly in urban areas.” Reuters (1/20)
Consumers 19 to 36 are attracted to energy-efficient vehicles with the latest electronics technology, but are discouraged by pricing for new vehicles, according to Deloitte. Among those surveyed, 86% have owned or leased a vehicle, the Deloitte survey found. Reuters (1/16)
Indian automotive aftermarket could grow to $9.4B by 2015; automotive trade mission planned for April
With a booming middle class, a fast-growing young population, strong investment and government interest in a well-developed automotive industry, India is poised to be an important market for US automotive aftermarket suppliers. The Economic Times reports that by 2015, the India aftermarket industry could grow to about $9.4 billion. This follows a 2012 base of $3.7 billion with annual sector growth at around 10% to 12%. In April will be the Automotive Trade Mission to India, organised by the US Commercial Service/US Department of Commerce. This mission is designed for small and medium US businesses, travelling to three automotive commercial hubs in India: New Delhi, Pune and Chennai. It will generate market exposure and provide access difficult for businesses to arrange independently. More information on the mission and the Indian commercial market is available online. Read more.
The Industry Indicators Report is a statistical compilation of key economic variables that are released each month by a variety of business and government sources. The monthly Industry Indicators Report is an AAIA member-only benefit. Reports and commentary are posted in the Knowledge Centre on the AAIA website and are accessible through AAIA username and password. For questions regarding this report, e-mail Ron Rossi or go online for more information on AAIA membership. If you need assistance with your username and password, contact the AAIA membership department at 301-654-6664.
Results of the joint Business Confidence Index for November 2013 show that aftermarket business leaders softened their outlook on the economy and the automotive aftermarket over the next 12 months, reports AAIA and Northwood University. The overall AAIA/Northwood University Automotive Aftermarket Business Confidence Index for November was 8.11, down from the October reading of 20, placing aftermarket leaders in the low range of the “slightly more confident” category. The overall AAIA/Northwood University Automotive Aftermarket Economic Confidence Index for November was -6.76, down from the October reading of 11.25, thus placing aftermarket business leaders on the low side of “slightly less confident” in the economy as a whole in November. The 36th monthly instalment of the survey was sent to members on Jan. 10. Results will be calculated monthly and reported in AAIA SmartBrief. Member responses will be used solely in the aggregate and for the purpose of providing empirical information. For more information, contact AAIA market intelligence at 301-654-6664 or Timothy G. Nash, Northwood University, at 989-837-4323.
Car Care Council News
Looking for the right repair shop for your vehicle? The non-profit Car Care Council recommends asking a few simple questions to help identify an auto repair shop to properly care for one of your most valuable assets:
- Does the business employ ASE-certified technicians? Credentials and affiliations are indicators of professionalism and the management’s commitment to training and education.
- Are the shop and customer waiting area clean and organised? Cleanliness and organisation are signs of a well-run business.
- Are customers greeted and treated in a friendly and respectful manner? Many auto repair businesses excel in the area of customer service and satisfaction. A simple phone call to the shop to inquire about its services can give you an idea of how they treat customers.
- Does the business provide a written estimate? The business should complete a written estimate and request your signature prior to starting any repairs on your car.
- Does the business offer a warranty? Most auto repair businesses offer a warranty on parts and labour, and the warranty is usually in writing or posted in the waiting area.
- Does the business have a list of satisfied customers or references that it is willing to give to you? Satisfied customers and recommendations from family, friends and neighbours are helpful in finding a good shop. Many auto repair facilities also have company websites that are worth checking out, as they often include testimonials and additional information about the business.
The Car Care Council video Auto Service & Repair: What to Expect provides straight talk on such topics as finding the right auto repair facility, what to expect at the shop and what questions to ask. The video also covers the real truth about consumer rights and the manufacturer’s warranty. For a copy of the council’s Car Care Guide or for more information, visit the website.
Managers should break out of day-to-day routines and develop and coach their reports, executive coach Joel Garfinkle writes. He offers three steps, each with a long-term goal and immediate action. The first step: move towards a great team with a session exploring individual and organisational goals. SmartBrief/SmartBlog on Leadership (1/20)
Not every company can have a mission that truly inspires and fulfils its workers, writes Sally Helgesen. Fortunately, there’s evidence that employees can also find meaning in their individual development. This suggests that companies should spend less time sweating their mission statement and more time helping people learn and grow. Strategy+Business online (free registration)/s+b Blogs (1/14)
Faith is taking the first step even when you don’t see the whole staircase.
– Martin Luther King Jr, American clergyman and civil rights activist