The automotive industry is a global business. There are thousands of suppliers, with some exceeding $1 billion in annual sales. The United States, Japan, and Germany dominate the industry. Germany alone boasts 23 of the top 100 suppliers. Its largest auto parts builder is Robert Bosch, GmbH. Its specialty parts include fuel injection systems, chassis systems, and automotive multimedia and electronics.
The United States imports more auto parts than any other country. In 2006, imports of auto parts accounted for a staggering $95.2 billion. Exports were almost half as much. Japan is the world’s largest producer of cars and vehicles, but only ranked fourteenth on the list of importers.
Domestic auto parts manufacturers are slowly improving, although they are still far behind their Japanese counterparts. The primary target market for auto parts is vehicle manufacturers, which account for two-thirds to three-fourths of all sales. The remainder is sold to the service/replacement parts distribution network. Most auto parts produced are shipped overseas, with most of the product being shipped to the United States, Japan, and Western Europe.
The auto parts industry is a highly competitive industry. Employment in the industry has decreased by almost 20% since 2000. According to the U.S. Department of Labor, employment in the auto parts industry declined from 920,000 in 2000 to 721,900 in 2006. Furthermore, the number of participating companies has declined. As a result, analysts predict that only 100 major suppliers will remain in the auto parts industry by 2010 and that the industry will be much smaller than it was in 2000.
E-commerce is an important distribution channel for auto parts. E-commerce platforms offer better comparison tools and easier research assistance for buyers. This means that more car owners are choosing to buy auto parts online. Moreover, e-commerce has been outpacing brick-and-mortar sales of auto parts.
In addition to being a great way to satisfy curiosity, learning about the mechanics of cars can also help one develop an appreciation for machines. A car is not just a simple object, but a complex network of interconnected parts that make it work. Even if you don’t like cars, you may end up becoming obsessed with them as you learn more. With the help of an auto parts app, you can learn about automotive technologies, and even get useful tips for fixing your car.
When buying car parts, it is important to check for compatibility with your vehicle’s model. The use of non-specific auto parts can void your vehicle’s warranty. You should always check your car’s owner’s manual to make sure that your parts are compatible. Also, always make sure that you purchase parts that will meet your vehicle’s emission requirements.
Despite the economy and the lack of new cars, auto parts are still popular. The best selling items on the auto parts marketplace are usually exterior parts and accessories. Aftermarket lighting accessories are popular among these products.