Frost & Sullivan’s Mobility team says that the expected growth in the UK aftermarket can offer opportunities to businesses that harness partnerships and tie ups.
The consultancy believes service chains should focus on highly replaceable parts associated with top brands, while independent garages should develop a better understanding of servicing top brands.
Frost & Sullivan Mobility Program Manager Anuj Monga commented: “In a fiercely competitive evolving ecosystem, independent aftermarket (IAM) players and franchises must harness available opportunities such as developing mutually beneficial partnerships and tie ups with PCP agencies, tyre companies, telematics and connected car manufacturers to offer better discounts, customer value, and ensure availability of parts on time.”
Frost & Sullivan’s says that aftermarket developments and trends encouraging growth include: high percentage of old car sales requiring ongoing maintaining, with the knock on increased growth in replacement and requirement frequency of parts like tyres, lights, brakes, suspension, parking aids, wipers, and wheel hubs due to age of vehicles.
Anuj Monga concluded: “While independent repairs still represent a large majority of sales and service points within the IAM, growing complexities in vehicle functionality and a lack of available skill set are a key market challenge,” noted Monga. “Investing in innovative training methods, tools, equipment, and assistive technologies will be critical to long-term business sustainability.”
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