RESEARCH TRIANGLE PARK, NC — The disparity between automotive parts exports ($48 billion) and parts imports ($74 billion) drove the U.S. auto parts trade deficit to $26 billion in 2003, according to the 2004 Automotive Aftermarket Status Report, just released by the Automotive Aftermarket Suppliers Association (AASA).
The report notes that Japan continues to be the most significant contributor to the trade deficit. However, China’s imports are up 300 percent, making the country the fifth-largest source of U.S. automotive parts imports.
Counterfeit parts are an additional concern, according to AASA. Fake parts and intellectual property rights violations cost the U.S. automotive industry nearly $3 billion and cost the global industry $12 billion each year.
“Canada is the only major U.S. trading partner with an automotive surplus,” said Frank Hampshire, AASA director of market research. He noted that Mexico and Canada are the largest U.S. trading partners, with much of the exports of parts and components being imported later as finished goods.
The Automotive Aftermarket Status Report, which has been published annually since 1998, illustrates information, future aftermarket trends and analysis with numerous charts and graphs. This year, the publication also includes a membership directory of AASA, MEMA’s aftermarket market segment association.
MEMA member companies can order additional copies of Status Report for $125. Non-members may order the report for $500. Orders may be placed by calling 919-549-4800 or by e-mailing [email protected].
For more information about MEMA and its market segments, go to: www.mema.org.
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