Electric Cars to Boost the Australian Automotive Aftermarket: Ken Research The report titled “Automotive Aftermarket in Australia”, provides a comprehensive analysis of Australia’s automotive aftermarket, growth of the sector, major products, leading players, developments, technology and future of Brazil’s automotive aftermarket. According to the report Electric car industry statistics will witness an increase in the battery-powered models in the next few years. This trend may help in the growth of the Australian automotive aftermarket in the near future. Tesla is going for a mass-production of electric cars at an affordable range. Majority of the electric cars will receive a boost in year 2018 from the new Nissan Leaf and Hyundai Ioniq EV as well as Hyundai’s hydrogen-powered Nexo SUV. BMW and Renault also initiated electric cars as consumers are more appealing towards electric vehicles. Volkswagen, Porsche, Mercedes and Volvo also have new models on the way in the near future as luxury brands are likely to lead the electric automobile industry. With the drastic growth in the electric cars, the Australian automotive aftermarket sector will witness a steady growth in the next few years.
Industry Overview: The automotive aftermarket is a secondary market in the automotive industry. It comprises of manufacturing, remanufacturing, distribution, retailing and installation of all vehicle parts, chemicals, equipment, and accessories. The extra parts and accessories are not necessarily manufactured by the original equipment manufacturer. The aftermarket parts are divided into two categories such as replacement or spare parts and accessories. The spare parts are automotive parts remanufactured to replace original equipment parts of an automobile as they become worn out or get damaged after a period