RESEARCH TRIANGLE PARK, NC --
Brazil, China and the former Soviet Union have been tapped as the world’s top three emerging regions for the automotive aftermarket, according to the 2004-2005 edition of the “World Automotive Market Report.”
Now in its 74th edition, “World Automotive Market Report” is one of the industry’s oldest global statistical analyses. It is published annually by the Overseas Automotive Council (OAC), the international division of the Motor & Equipment Manufacturers Association (MEMA). The report includes global production/assembly statistics, world vehicle census summary, U.S. automotive parts trade, global trade in new vehicles and world motor vehicle markets data.
These three countries have shown tremendous growth in total vehicle populations, placing ninth, 10th and 11th in the top 14 countries by vehicle population, according to Frank Hampshire, MEMA director of research.
“All three countries have experienced significant growth in their automotive manufacturing sectors and in the participation of international companies in those sectors,” said Hampshire. “Brazil in particular has seen tremendous growth in international mergers, acquisitions and joint ventures, from 48 percent in 1994 to 69 percent in 1999.”
Global automotive aftermarket product sales in 2003 reached a record high of $314 billion, according to the “World Automotive Market Report.” North American sales represented 60 percent, or $189 billion, of the total global aftermarket product sales.
“If vehicle maintenance and accessorizing in the rest of the world took place at the same rate as in North America, global aftermarket product sales would exceed $550 billion annually,” Hampshire said.
“World Automotive Market Report” is available to members of OAC, MEMA and its three market segment associations for $75 each. Non-members can order copies for $200 each. Contact Anthony Cardez, OAC director of business development, for more details, at: acardez@mema.org or 919-406-8810.
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