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The automotive industry is involved in the process of designing, manufacturing, and selling motor vehicles. However, it is not just about selling cars to consumers. The services required to maintain and distribute cars after the car’s initial sale are part of the automotive aftermarket, a 257 billion dollar market. According to the automotive industry research firm R.L. Polk & Co., consumers are holding their cars, on average, for 63.9 months, which is up 4.5 months from the previous year. Additionally, the quality of cars have increased leading people to hold their cars for longer periods of time without the need to purchase new ones. While this can lead to reduced car sales, it can increase the need for repair and maintenance as people choose to keep their older cars.
Brand fraudsters and opportunists on the other hand have become weary of consumers search and research behaviors when looking for a new car or wanting to purchase spare parts online. There is no doubt that the car industry is challenged by opportunists wanting a share of the pie and this has created an urge for car makers to make sure that the spare parts which are purchased by consumers in fact are genuine as more and more unauthorized parts and lifestyle merchandise is coming online as a result of a growing aftermarket.
Furthermore, being a well renowned car or motorcycle maker with agents and distributors worldwide, it can be challenging to protect a brand across numerous markets and local interests, as a car brand locally can be jeopardised because of a lack of attention from local representatives as a growing number of online fraudsters are targeting global automobile brands locally and in local languages in order not to be discovered by headquarters around the world and at the same time creating a hard time for the local distributor or dealer resulting in lower sales.
The auto accessories market is a $32 billion dollar market with data showing 92% percent of consumers are willing to buy auto accessories. With consumers holding their cars longer and disposable income increasing, auto accessories are beginning to look like a prudent investment for car owners.
Tailored consulting services include;
Automotive Digital Brand Risk Analysis
Car Launch Brand Protection Strategy
Accessories/Parts Vulnerability Research
Distributor & Agent Digital Brand Policy
Automotive Customer Risk Protection
Contact us for more information about our consulting services developed for the Automotive Industry.