Technical Services Consultant
A European client came to Impetus Automotive as they wanted clarity over their existing aftermarket along with an understanding of what parts opportunity was available.
Without visibility of the market size and potential, the client was unable to develop a clearly defined parts strategy, or financially justify necessary actions.
They needed insight and analysis to provide a robust business case based on accurate data. With an understanding of the absolute parts market value as well as their market share, we were able to provide concise conclusions and make clear recommendations to the client.
Experts in market sizing activity, Impetus Automotive were able to carry out a study seeking to identify specific product groups that warrant further investigation and create a focus on potential opportunities.
We delivered a clear 8 step process to gather all relevant information for the study. We started with determining the vehicle parc, replacement factors and values to demonstrate market size, before corroborating the data and verifying it against external sources.
Our team of experienced Analysts based at our Head Office are well positioned to deliver detailed studies as part of our consultancy services.
Through the market Analysis, we found that only 7% of the opportunity lay within the 0-3 year car age group and that a massive 74% of that opportunity actually sat within the 7+ year age group. Given current vehicle maintenance regimes and parc age this is not unusual. The study led to recommendations on examining competitive pricing on particular product groups, suggesting offers linked to Statutory Car Tests and monitoring the availability of non-OEM body repair parts.