The motor vehicle & parts dealers’ market comprises sales of motor vehicles and other parts and related services offered by different bodies that are engaged in the business of retailing automobiles, other motor vehicles, accessories, and automotive parts to the end-users. There are companies in the industry that typically operate from their respective showrooms where vehicles and related spare parts are displayed.
The auto parts industry is further segmented over key segments such as original equipment (OE) suppliers and after-market suppliers. The original equipment suppliers are engaged in selling of parts and components directly to automobile manufacturers for producing new vehicles. Subsequently, the sale in the OE market depends on the number, size, and complexity of the new vehicles produced. The aftermarket parts consist of suppliers that manufacture and sell replacement products for the used vehicles. The rise in number of construction and e-commerce undertakings have further led to increase in demand for material transportation, which, in turn, resulted on an increased sale of commercial vehicles, globally this have further led to increase in demand of after sale of automotive spare parts. The aftermarket of this sector consists of spare parts that are distributed over a few major parts distributors and thousands of small businesses engaged in sale by auto parts stores, tire stores, department stores, discount stores, auto dealers, service stations, repair shops, and home and do-it-yourself stores.
According to study, “Motor Vehicle And Parts Dealers Global Market Report 2019” the key companies operating in the global motor vehicle and parts dealer market are AutoNation, Group 1, Penske Automotive Group, CarMax, Sonic Automotive.
Based on type, motor vehicle and parts dealer market are segmented into automobile dealers, auto parts & accessories and other motor vehicle dealers. Based on product type, market is segmented into wheels, transmissions, transaxles, bearings, springs, frames, axles, bumpers, brake systems, shock absorbers, brakes pads, rotors, filters, wiper blades, struts, springs, exhaust system, fuel injectors, airbags, cushioning, seats, seat belts, and safety padding materials. Based on ownership, market is segmented into independent retailer and retail chain. In addition, based on type of store, market is segmented into exclusive retailers or showroom and inclusive retailers or dealer stores.
The sales and dealers of automobile industry is a mature industry and has concluded several phases and cycles to reach the desired level. With the rise in technology that has reached in almost all parts of the world and in almost all industries, have now gained a mammoth size of the market with the help of advanced technology
Based on geography the motor vehicle and parts dealers’ market are segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions the Asia Pacific accounted for the largest market in the motor vehicle and dealer parts market that accounted for more than one-third of the market total market. The North America region was the second largest region accounting for similar to Asia Pacific motor vehicle and parts dealers’ market. Eastern Europe held the smallest share in the global motor vehicle and parts dealers’ market.
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Ankur Gupta, Head Marketing & Communications