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Turkish Automotive Aftermarket Capitalises on the Boom in Maintenance and Repairs as Vehicle Parc Expands - Retail and eRetail channels will turn into key revenue generators as the industry matures, said Frost & Sullivan - Automotive.Frost.com
Turkish Automotive Aftermarket Capitalises on the Boom in Maintenance and Repairs as Vehicle Parc Expands

 

NewswireToday - /newswire/ - London, United Kingdom, 2015/07/16 - Retail and eRetail channels will turn into key revenue generators as the industry matures, said Frost & Sullivan - Automotive.Frost.com.

   
 
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The Turkish aftermarket is expected to continue its upward growth pattern owing to the rapidly expanding vehicle parc as well as higher average vehicle age. With the growing use of the Internet, customer awareness on products and services will rise, further widening market potential. However, the influx of unqualified products could threaten profitability.

New analysis from Frost & Sullivan, Strategic Analysis of the Turkish Automotive Aftermarket (frost.com/ma81), finds that the total aftermarket for light vehicles earned revenues of $4.51 billion in 2014 and estimates this to reach $6.34 billion in 2021. Fleets are expected to account for one-third of all manufacturer-level parts sales, while individual-owned vehicles will account for approximately 70 percent of revenue.

“New vehicle registration decreased by about 16 percent in the passenger car and pickup/van segments between 2013 and 2014, increasing the average vehicle age in Turkey,” said Frost & Sullivan Automotive and Transportation Consulting Analyst Melek Ozturk. “Consequently, the need for spare parts and maintenance has grown, giving a boost to aftermarket sales in Turkey.”

Despite stringent European regulations, the availability of second line and counterfeit products produced under the names of quality global brands is affecting profits. In addition, the lack of trained workers impedes the implementation of required techniques and services, curbing revenues.

Both aftermarket associations and global system manufacturers have been working to improve worker training. The ‘Right to Repair’ panels and seminars on the quality and types of aftermarket products are making a difference in raising awareness.

“The emergence of eRetail channels has encouraged the use of the Internet to research the availability of parts and services, further improving awareness,” stated Ozturk. “Up to half of all vehicle owners are likely to use the Internet and/or mobile apps as more accessories and do-it-yourself products become available, turning eRetail channels into key avenues for sales in the Turkish automotive aftermarket.”

Strategic Analysis of the Turkish Automotive Aftermarket is a Strategic Insight that is part of the Automotive & Transportation (automotive.frost.com) Growth Partnership Service program. This research includes findings produced by Frost & Sullivan’s automotive aftermarket team over the past three years, as well as from additional primary and secondary data sources. The study offers a strategic analysis of vehicles in operation, parts, services, distribution channels, original equipment service channels, regulatory influences, and consumer trends.

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Strategic Analysis of the Turkish Automotive Aftermarket (MA81-18)

 
 
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Turkish Automotive Aftermarket Capitalises on the Boom in Maintenance and Repairs as Vehicle Parc Expands

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Frost & Sullivan | Turkish Automotive
Publisher Contact: Katja Feick - Frost.com 
+49(0) 69 / 77 0 33 43 katja.feick[.]frost.com
 
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