Automotive Aftermarket segment lures ASEAN industry players

With Automotive Aftermarket demand expected to soar at 13% from 2010 to 2018, how can industry players cash in on this market opportunity? Japnit Singh, Senior Director, Singapore and India of Spire Research and Consulting shared his insights in the Lube Report Asia magazine.

Original Equipment Manufacturers (OEMs) in the automotive industry are operating in highly competitive markets. In most countries, they are fighting for market share via promotions and heavy price discounts. OEMs are always on the look-out for new income streams. It is in this context that industry players and manufacturers in Indonesia and Malaysia have been zeroing in on the lubricant oil market.

Singh highlighted that post-sales services – inclusive of oil change and regular maintenance check – generate higher profit margins than vehicle sales. The current low oil prices have encouraged motorists to use their cars more often – raising demand for aftermarket services and parts, including lubricant oil.

As competition rises, several countries are taking initiatives to grab market share. For instance, the Malaysian government aims to reduce car prices by 20 – 30% by 2018 through its National Automotive Policy. Aimed at fostering competition and liberalization of the auto industry, this initiative is expected to raise investment and competition in aftermarket products and services.

Indonesian players are running nationwide transformation exercises to improve and upgrade services available at auto service centres to boost sales. Even PT Mitra Pinasthika Mustika Tbk – the main dealer for Nissan and Datsun vehicles – is set to increase its number of service centers from 105 to 115 by March 2015.

https://www.spireresearch.com/newsroom/media/automotive-aftermarket-segment-lures-asean-industry-players/

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