IHS Markit Launches New Solution For The Automotive Aftermarket

Business information provider IHS Markit has announced the launch of the Market Performance Analysis Tool, the newest part of the company’s WorldView aftermarket online solution.

This new offering will allow aftermarket companies to analyze unit and dollar volume by product line and compare actual transaction pricing against competition – over time and by geographic regions – utilizing the same WorldView online system currently used to analyze vehicles in operation (VIO), original equipment research and parts catalog coverage.

Nearly $2 billion in annual sales transaction data from WHI Solutions (an eBay company) is incorporated into this solution from its Nexpart e-commerce solution across the U.S. and Canada. Monthly sales data from more than 18,000 users is normalized to the auto care industry ACES and PIES standards, making it easy to link to IHS Markit data and providing the user with easily recognizable product and brand nomenclature.

IHS says users can compare brand or product line movement for a given time period and geographic region against the both the total units and dollars for that product line and/or a specific competitive set. Actual transaction prices also are included, allowing for competitive pricing analysis in order to make near real-time decisions based on what is happening in the marketplace. The database is updated monthly.

“This new offering fills a need in the marketplace to make decisions based on actual transactional sales data – specifically, a view of what is happening at the counter,” said Mark Seng, global aftermarket practice leader, IHS Markit. “It also provides the aftermarket with key performance and competitive pricing metrics to help them make more informed category management decisions for their business.”

For additional details, or to schedule a demo of the analysis tool, click here.

Federated Auto Parts Distributors announced it is entering into a collaboration with the Association of Independent Oil Distributors (AIOD) – one it said will focus on mutual benefits for the respective members.

“Federated is constantly looking at ways to improve value for all constituents and this agreement provides that,” said Sue Godschalk, president of Federated. “This collaboration provides added volume and opportunities for our suppliers, new partners for our members, and added supply points and products for shop customers. We have enjoyed working closely with several AIOD members in the past and this agreement will expand and create further opportunities for both Federated and AIOD.”