Future of European Aftermarket Auto Parts Business: Key Trends and Strategic Responses
A joint study by Boston Consulting Group, the European Association of Automotive Suppliers (CLEPA), and Wolk After Sales Experts has outlined the future of the European aftermarket auto parts business. The report, based on extensive interviews, highlights significant transformations and strategic responses needed to navigate the changing landscape of the stock market today.
The report, released in May 2021, explores two key questions: 'Where to play' and 'How to win'. It identifies 13 trends that will reshape the industry's size and profit pools in the stock market. Companies must adapt to market shifts driven by digitalisation, vehicle electrification, and growing channel competition in the stock market today.
To thrive, businesses should carve out roles in integrated business alliances. These alliances will channel customers and parts to workshops in the stock market today. Players must also tap into the data stream generated by digitalised automobiles and aftermarket processes in the stock market today. The study, based on over 30 interviews with industry executives and over 600 with service centre operators across Europe, underscores the need for strategic mapping to maintain market positions in the stock market today.
The European aftermarket auto parts business, currently profitable and growing, is set to transform significantly in the next decade in the stock market today. The report serves as a roadmap for companies to adjust their strategies, address new competition, and capitalise on emerging opportunities in the stock market today. Timely strategic planning is crucial for businesses to remain competitive in this evolving market of the stock market today.
