What is aftermarket supplier?

What is aftermarket supplier?

The automotive aftermarket is the secondary market of the automotive industry, concerned with the manufacturing, remanufacturing, distribution, retailing, and installation of all vehicle parts, chemicals, equipment, and accessories, after the sale of the automobile by the original equipment manufacturer (OEM) to the …

What is the difference between OEM and aftermarket?

OEM stands for Original Equipment Manufacturer, which means the parts are made by the same company that makes the vehicle. Meanwhile, aftermarket parts are produced by a different parts company and are often designed to be compatible with as many makes and/or models as possible.

Why is it called aftermarket?

Aftermarket parts, also called generic parts, are made by a company other than your vehicle’s original manufacturer. They’re brand new replacement parts—not used parts. They’re made by a third-party manufacturer, so they might not be a perfect fit the same way OEM parts are.

What does aftermarket copy mean?

Aftermarket parts are copies of the OEM part. These parts are made to be a more economically feasible replacement parts than an OEM part.

What considered aftermarket?

An aftermarket part is any part for a vehicle that is not sourced from the car’s maker. If the parts are direct replacement parts, they will not void your car’s warranty. A number of companies make parts designed to function the same, or in some cases even better than the original.

What are aftermarket services?

In response, CEOs at industrial OEMs are increasing their focus on aftermarket services—the provision of parts, repair, maintenance, and digital services for the equipment they sold. The appeal of this strategy is simple: services provide stable revenue—and often higher margins—than sales of new equipment.

What aftermarket means?

Definition of aftermarket 1 : the market for parts and accessories used in the repair or enhancement of a product (such as an automobile) 2 : a secondary market available after sales in the original market are finished a movie in the videocassette aftermarket.

Are aftermarket parts good?

High-quality aftermarket parts are as good as OEM parts, or in some cases, can perform better. You really do get what you pay for, and the higher the cost, the better the build or materials. There are hundreds of manufacturers to choose from, so be sure to ask your mechanic about your options.

What is aftermarket certified?

Aftermarket parts are replacement parts used in car repairs. They are not made by the car’s original manufacturer, unlike original equipment manufacturer (OEM) parts, which are. Certified aftermarket parts are less expensive than OEM parts and should not impact your car’s safety or warranty.

What is independent aftermarket?

Independent Aftermarket means the market composed of purchasers of systems, equipment and components to be used in servicing and repair of vehicle exhaust or emission technology systems or components but excluding the OE Market and the OES Market.

How can I improve my aftermarket business?

How to Increase Aftermarket Sales with Customer Experience

  1. Provide a Frictionless Experience.
  2. Organizational Alignment.
  3. Adopt the Use of Proper Tech Tools.
  4. Make It Easy to Do Business with Your Company.

What is another name for aftermarket?

In this page you can discover 3 synonyms, antonyms, idiomatic expressions, and related words for aftermarket, like: oem, auto-parts and null.

What is the meaning of aftermarket?

noun the market for replacement parts, accessories, and equipment for the care or enhancement of the original product, especially an automobile, after its sale to the consumer: The company holds a large share in the automotive radio aftermarket.

What does aftermarket parts mean in insurance?

Aftermarket Parts. Reviewed by Julia Kagan. Updated Nov 8, 2019. Aftermarket parts are replacement parts that are not made by the original equipment manufacturer. Aftermarket parts are used to replace damaged parts in automobiles and other equipment, but their use may alter the coverage of an insured item.

What do suppliers need to know about the future of aftermarket?

Specifically, suppliers will need to understand the most probable future industry scenarios – ones in which multiple player categories are likely to benefit or, in more extreme cases, ones in which one player type, such as OEMs or distributors, can be expected to dominate the aftermarket landscape.

What companies are involved in the aftermarket?

Denso Corp. Magna International Inc. Lear Corp. The automotive aftermarket serves as a tributary market of the automotive industry. The aftermarket is concerned with the manufacturing, distribution, retailing, and installation of automotive components, equipment, and accessories to the consumer.