According to
the study “Automotive
Aftermarket in France”, French automotive aftermarket consists of all equipment
that helps in prolonging the life of a vehicle. Repair shops, collision
centres, auto parts stores, manufacturers of all vehicle parts, chemicals,
tools, equipment, and accessories make up the French automotive aftermarket. France
commercialized the automotive aftermarket, increase in consumers’ disposable
income, growth in trade and country’s economic status are the few factors
driving a favourable growth in the French aftermarket. The aftermarket is also
involved in ship parts and equipment which drives the growth in the
aftermarket. The automotive aftermarket acts as a catalyst for the growth of
the shipping industry. The advent of multilateral and multinational agreements in
the French automotive aftermarket will enhance the country’s trading sector.
France is the founder of the automotive
industry, third largest automobile manufacturer in Europe and fourth
largest in the world. The two major automobile companies in France are PSA
Group and Renault Group. France is the leading producer of passenger cars and
light weight commercial vehicles in the world. It was observed that there is an
increase in the France automobile aftermarket sales over the recent years. The
main categories in French automotive aftermarket are powertrain equipment, vehicle
interiors, body components, tire-to-road components, and equipment for
measurement, diagnostics and repairs. These parts are sold to the original
equipment manufacturer (OEM) market and to the aftermarket that includes the
OES (Original Equipment Suppliers) and the IAM (Independent Automotive
Aftermarket)markets.
France is
leading in the electric passenger vehicles and this trend will continue to
increase over the coming years. E-Commerce in the French automobile industry is
growing drastically such that there is a huge growth in the sale of spare auto
parts online.
The automotive
aftermarket in France is dominated by large multinational firms. Multinational
suppliers are already present in France automobile aftermarket. These firms
compete based on requirements, transportation costs, and others. Multinational
suppliers focus in supplying highly technical products or innovative
aftermarket products that environment safe and consumer safe. French OEMs are
not interested in equipment with basic technologies which are already present
in the market. All the OEM’s and R&D focuses on electrical and hybrid
technologies and remanufacturing aftermarket which is a fastest growing sector
in France. French uneven economic growth and fluctuating prices of raw
materials may restrain the growth in the automotive aftermarket market over the
next few years.
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Ankur
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