The automotive industry is undergoing a massive transformation, and the move toward electric vehicles is accelerating. In such circumstances, Aisin reinstates its focus on the automotive aftermarket as a business opportunity for significant growth.
At first glance, it could appear as though the automotive aftermarket market is headed for a downward trend due to the electrification which implies a decreased number of parts installed on a vehicle. However, with technological advancement, the lifespan of vehicles is increasing, and there is a growing number of people who want to continue driving their vehicles for a longer period. And these people are willing to pay for proper and regular maintenance.
“There are currently about 1.5 billion vehicles on the road around the world, which means there’s a large market for repair and maintenance,” says Juichi Fujiwara, head of Business Planning Section for Aisin aftermarket. “Furthermore, it is assumed that in emerging countries, with today’s low-income households will move up to the
middle- class in the future, further growing the number of vehicles owned.
As a comprehensive automotive parts manufacturer that develops and produces many of the parts that make up a vehicle, Aisin has cultivated vast technological expertise and manufacturing capabilities. Our vision is to leverage these strenghts in aftermarket products development and expand Aisin’s aftermarket products and services to general users both locally and overseas, many of whom are new to Aisin’s capabilities. Thanks to predictive analysis, Aisin has been capable to identify a high demand in the Aftermarket and to propose approximately up to 70 products by the end of the fiscal year 2023. Based on the needs and demand in each country, Aisin will be able to provide products that will suit the markets.
Aisin aftermarket is currently operating in 36 locations and 17 countries, selling products in more than 100 countries. To grow globally in the different markets, it is important to develop products that match the characteristics and the needs of each country and region. Instead of being a mere wholesaler, Aisin observed the trends linked to the environment and listened to the customer’s requirements to build a scalable aftermarket business.
Aisin has conducted market research by visiting local maintenance workshops and other facilities to expand new products in a conscious way. What also stood out from the automotive aftermarket feedback was about the access to products of “fair quality at fair price”
Additionally, Aisin noticed that the sale of maintenance parts and vehicle accessories shifted to a more diverse range of products but also services. For Aisin’s global aftermarket business, it is important to explore the service business field and adapt the offer to the changing landscape from selling products to selling service.
Today, Aisin is enhancing its global presence with even more products designed under OE quality standards. Ensuring consumers to get components that will help to maintain their vehicle safe and comfortable to drive.
