Major automotive aftermarket alliance NEXUS Automotive International (N!) announced it is continuing its global growth and has achieved a record €10 billion ($11.2 billion USD) in consolidated group turnover.
The figure is €1 billion (approximately $1.12 billion USD) ahead of expectations outlined in February, when the group said it hoped to reach €9 billion ($10.1 billion USD) by the end of 2016.
N! CEO Gael Escribe will discuss the milestone as member companies from more than 100 countries are due to gather ahead of Automechanika Frankfurt for two days of business networking.
“Our vision for NEXUS’s place in the global aftermarket is to be a leader and reaching this landmark figure of €10 billion is a major step toward that,” said Escribe. “NEXUS has been in existence for only two-and-a-half years but through the collective efforts of all in the N! Community we have achieved so much.
“With N! members in more than 100 countries and 60 global supplier contracts in place, NEXUS has the worldwide reach, collective strength and credibility to fulfill our vision of bringing innovation and entrepreneurship on an unprecedented scale to the aftermarket.
“From Sao Paulo to Johannesburg, Birmingham to Barcelona, Dubai to Shanghai, wherever you come from in the world, NEXUS’ ambition is to be the ‘business catalyst’ of the aftermarket.”
N! says it will soon take a big step forward in China with the establishment of its Chinese representative office in Shanghai. The office will enable N! to be closer to its members and suppliers, facilitate future co-operation and respond quickly to the needs of the China market.
The local team in Shanghai will be supervised by Bas Donders, N! marketing and sourcing director, who has 25 years of industrial experience.
Gael added that while the group will continue to seek new membership opportunities in fast-growing markets, the focus would increasingly be on developing business and projects with existing N! members.
In addition, having reflected on its vision and objectives, the group says it had been decided not to renew the co-operation agreement with N! Alliance Russia beyond Dec. 31.
In the meantime, some 140 participants will meet in Frankfurt for the latest round of N! CONNECTING DAYS (Sept. 12-13), during which they will explore opportunities to develop new business between them.
Gael said, “At the end of the day, NEXUS is about creating value for our members. It’s pleasing to see a recently published study shows four out of the top five champions of growth in the French aftermarket were all N! members, as were six out of the top seven for champions of productivity. We would say that’s no random coincidence.”
