ASEAN AUTOMOTIVE AFTERMARKET ANALYSIS

Market News

ASEAN Automotive Aftermarket: Key Developments

Major market players are focusing on product launches, in order to enhance their product portfolio.

In April 2021, Lippert Components Inc., manufacturers and suppliers of highly engineered components to the RV industry announced the acquisition of Kaspar Ranch Hand Equipment, LLC. With this acquisition, Lippert Components Inc.'s aimed to expand its presence in the automotive parts aftermarket.

In February 2020, MotoRad LTD., developers and manufacturers of high-quality, reliable and durable thermostats, caps and engine management solutions for the Aftermarket, partnered with the Automotive Aftermarket Suppliers Association (AASA) and Auto Care Association to endorse the "Your Car. Your Data. Your Choice." Campaign. This campaign was launched to inform vehicle owners about their automobiles' data with vital maintenance and repair information.

For instance, in February 2021, Goodyear Tire & Rubber Company acquired Cooper Tire & Rubber Company with the aim of consolidating their brand portfolio and offering comprehensive services across the entire market value spectrum.

In June 2023, Continental, an automotive company specializing in brake systems, systems, and components, introduced the UltraContact NXT series tire, notable for its significant use of sustainable materials. The tire incorporates a substantial portion of recycled, renewable, and ISCC PLUS mass balance-certified materials, accounting for up to 65% of its composition. The UltraContact NXT tires will be offered in a total of 19 different sizes to cater to various vehicle requirements.

In April 2023, Delphi Technologies, an autonomous automotive firm, unveiled a total of 87 products in its lineup. Among them, 65 parts catered to the company's core range, focusing on chassis, fuel delivery, and engine management. Meanwhile, Sparta, the company's specialized brand, introduced the remaining 22 parts, specifically designed for its fuel portfolio.