Overview of Automotive Aftermarket for Auto Components in Colombia

  • ID: 4425776
  • Report
  • Region: Colombia
  • 37 Pages
  • Frost & Sullivan
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Export potential of Indian parts high. Stakeholders willing to pay incremental premium

FEATURED COMPANIES

  • Asopartes
  • Chery
  • Chevrolet
  • DFSK
  • Foton
  • Hero Motors
  • MORE

This report includes information on the following areas:

  • Current key trends in the Colombian Automotive Aftermarket
  • Aftermarket opportunities for auto component manufacturers in Colombia
  • Vehicle segments: Passenger Vehicles, Commercial Vehicles, 2/3 Wheelers and Tractors
  • Component Groups: Engine, Transmission and Steering, Suspension and Braking, Electrical, Consumables, Rubber and Electronics
Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • Asopartes
  • Chery
  • Chevrolet
  • DFSK
  • Foton
  • Hero Motors
  • MORE

1. Scope & Limitations

2. Global and Regional Brief

  • Global Automotive Aftermarket-Driven by increasing competition, growth in emerging markets and expansion and digitization of sales channels
  • The Supplier Field of Vision: What are Global CEOs Looking at?-Changing geopolitical environment, possible economic slowdown; a stronger aftermarket presence of non-automotive participants
  • Snapshot Colombia-Aftermarket revenue reached $3 Bn in 2017, should touch ~$4 Bn by 2020; imports cater to 50% of AM* components demand
  • Indian Auto Parts in Colombia-Significant potential for Indian auto parts in the 2 wheelers and passenger vehicle segments in Colombia

3. Country Snapshot: Colombia

  • Second most populated country in South America; legal driving age is 16-years, albeit with restrictions
  • Colombia Gross Domestic Product-One of the first economies in South America to recover from the 2008-09 crisis

4. Automotive Industry: Colombia

  • Colombia Automotive Industry Overview-A bigger 2W market with ~6 million vehicles on road; Hero Motor’s investment in a new production plant to act as a regional hub
  • Passenger Vehicle Segment Overview-North American brands Chevrolet and RENAULT occupy almost half of Colombia’s passenger cars segment
  • Commercial Segment Overview-With sales of 5000 units, Chinese brands CHERY, DFSK, FOTON and JAC accounted for 4.0% of the market in 2016
  • 2 Wheeler Segment Overview-Japanese, Chinese and Indian brands dominate the 2 wheeler market; 93% consumption catered by domestic production
  • 3 Wheeler Segment Overview-Chinese and Indian brands dominate the 3 wheeler market; Three Tuk-Tuk assemblers and three large importers dominate the market
  • Tractor Segment Overview-Negligible tractor production, market serviced by imports; SONALIKA is the only strong brand imported from India

5. Key Takeaways in Colombian Auto Component Aftermarket

  • Trends in the Colombian Automotive Market-Hero Motors constructing a production plant in Colombia, Bajaj is a strong player
  • Aftermarket Auto Component Market Size-Auto component aftermarket in Colombia accounted for US $3,000 million in 2016
  • Aftermarket Auto Component Maintenance & Parts Replacement Practices-High demand for cheap Chinese imports across vehicle segments
  • Vehicle Servicing Infrastructure in Colombia-Preferred service channel uses a mix of OEM genuine parts, aftermarket branded, and high quality Chinese parts
  • Colombia Auto parts Association: ASOPARTES-Supports social, commercial and technical objectives; sets standards, represents industry interests, integrates the market
  • Auto Component Import Trends-Auto components imports grew by 5.2% CAGR over 2009-2014; most demand catered by imports from North America, Europe and China
  • Importer-Distributors’ Sourcing from China-Share of Chinese imports in some component categories (quality perceived to be low) not as high
  • Chinese Auto Components in Colombia-Reverse engineering capability of Chinese manufacturers - a significant advantage over competing manufacturers from other countries
  • Perception of Indian Auto Components-Colombian Automotive stakeholders perceive product range and product development capability as key concerns

6. Annexure: Our Services

  • Maximize opportunities from existing products and markets; systematically explore new products, markets, including inorganic Opportunities
  • Our Growth Consulting Canvas
  • Legal Disclaimer
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  • Asopartes
  • Chery
  • Chevrolet
  • DFSK
  • Foton
  • Hero Motors
  • JAC
  • Renault
  • Sonalika
  • Trends-Auto
Note: Product cover images may vary from those shown
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Note: Product cover images may vary from those shown
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