Overview of Automotive Aftermarket for Auto Components in Colombia

Export potential of Indian parts high. Stakeholders willing to pay incremental premium

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Current key trends in the Colombian Automotive AftermarketAftermarket opportunities for auto component manufacturers in ColombiaVehicle segments: Passenger Vehicles, Commercial Vehicles, 2/3 Wheelers and TractorsComponent Groups: Engine, Transmission and Steering, Suspension and Braking, Electrical, Consumables, Rubber and Electronics

Table of Contents

Overview of Automotive Aftermarket for Auto Components in ColombiaScope & LimitationsScope & LimitationsGlobal and Regional BriefGlobal Automotive Aftermarket—Driven by increasing competition, growth in emerging markets and expansion and digitization of sales channelsThe Supplier Field of Vision: What are Global CEOs Looking at?—Changing geopolitical environment, possible economic slowdown; a stronger aftermarket presence of non-automotive participantsSnapshot Colombia—Aftermarket revenue reached $3 Bn in 2017, should touch ~$4 Bn by 2020; imports cater to 50% of AM* components demandIndian Auto Parts in Colombia—Significant potential for Indian auto parts in the 2 wheelers and passenger vehicle segments in ColombiaCountry Snapshot: ColombiaSecond most populated country in South America; legal driving age is 16-years, albeit with restrictionsColombia Gross Domestic Product—One of the first economies in South America to recover from the 2008-09 crisisAutomotive Industry: ColombiaColombia Automotive Industry Overview—A bigger 2W market with ~6 million vehicles on road; Hero Motor’s investment in a new production plant to act as a regional hubPassenger Vehicle Segment Overview—North American brands Chevrolet and RENAULT occupy almost half of Colombia’s passenger cars segmentCommercial Segment Overview—With sales of 5000 units, Chinese brands CHERY, DFSK, FOTON and JAC accounted for 4.0% of the market in 20162 Wheeler Segment Overview—Japanese, Chinese and Indian brands dominate the 2 wheeler market; 93% consumption catered by domestic production3 Wheeler Segment Overview—Chinese and Indian brands dominate the 3 wheeler market; Three Tuk-Tuk assemblers and three large importers dominate the marketTractor Segment Overview—Negligible tractor production, market serviced by imports; SONALIKA is the only strong brand imported from India Key Takeaways in Colombian Auto Component AftermarketTrends in the Colombian Automotive Market—Hero Motors constructing a production plant in Colombia, Bajaj is a strong playerAftermarket Auto Component Market Size—Auto component aftermarket in Colombia accounted for US $3,000 million in 2016Aftermarket Auto Component Maintenance & Parts Replacement Practices—High demand for cheap Chinese imports across vehicle segmentsVehicle Servicing Infrastructure in Colombia—Preferred service channel uses a mix of OEM genuine parts, aftermarket branded, and high quality Chinese partsColombia Auto parts Association: ASOPARTES—Supports social, commercial and technical objectives; sets standards, represents industry interests, integrates the marketAuto Component Import Trends—Auto components imports grew by 5.2% CAGR over 2009-2014; most demand catered by imports from North America, Europe and ChinaImporter-Distributors’ Sourcing from China—Share of Chinese imports in some component categories (quality perceived to be low) not as highChinese Auto Components in Colombia—Reverse engineering capability of Chinese manufacturers – a significant advantage over competing manufacturers from other countriesPerception of Indian Auto Components—Colombian Automotive stakeholders perceive product range and product development capability as key concernsFrost & Sullivan AdvisoryStakeholders willing to pay incremental premium for Indian parts over Chinese for their better quality Critical Success Factors for Aftermarket Components in Colombia—Improvements in brand image, such as packaging design and brand recognition are key to success in aftermarketAnnexure: Our ServicesMaximize opportunities from existing products and markets; systematically explore new products, markets, including inorganic OpportunitiesOur Growth Consulting CanvasLegal Disclaimer

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