The Evolution of the Automotive Aftermarket Outlook
The global automotive aftermarket is in a transformative era, driven by disruptive vehicle technologies, shifting consumer behaviors, new business models, and an increase in vehicles in operation (VIO). Frost & Sullivan’s research1 has identified the top transformations currently facing businesses in this market; these can serve as both challenges and new growth opportunities:
- Dealership downsizing, increased virtualization, and shifts to agency or direct-to-consumer models in order to counteract rising costs and shrinking margins.
- Expanding customer-focused solutions, including doorstep services and more convenient digitally based maintenance scheduling.
- Upgrading infrastructure, inventory, and services to address things like increases in VIO and EV expansion.
- Increasing spending on digital technologies that enable better customer touchpoints and optimized operations.
Our new VBook empowers you with actionable strategies that can help your business not only thrive, but lead the way forward in the aftermarket industry.