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Overview of Automotive Aftermarket for Auto Components in Colombia

Overview of Automotive Aftermarket for Auto Components in Colombia

Current key trends in the Colombian Automotive Aftermarket
Aftermarket opportunities for auto component manufacturers in Colombia
Vehicle segments: Passenger Vehicles, Commercial Vehicles, 2/3 Wheelers and Tractors
Component Groups: Engine, Transmission and Steering, Suspension and Braking, Electrical, Consumables, Rubber and Electronics


  • Frost & Sullivan - Introduction
  • Scope & Limitations
  • Global and Regional Brief
    • Global Automotive Aftermarket-Driven by increasing competition, growth in emerging markets and expansion and digitization of sales channels
    • The Supplier Field of Vision: What are Global CEOs Looking at?- Changing geopolitical environment, possible economic slowdown; a stronger aftermarket presence of non-automotive participants
    • Snapshot Colombia-Aftermarket revenue reached $3 Bn in 2017, should touch ~$4 Bn by 2020; imports cater to 50% of AM* components demand
    • Indian Auto Parts in Colombia-Significant potential for Indian auto parts in the 2 wheelers and passenger vehicle segments in Colombia
  • Country Snapshot: Colombia
    • Second most populated country in South America; legal driving age is 16-years, albeit with restrictions
    • Colombia Gross Domestic Product-One of the first economies in South America to recover from the 2008-09 crisis
  • Automotive Industry: Colombia
    • Colombia Automotive Industry Overview-A bigger 2W market with ~6 million vehicles on road; Hero Motor's investment in a new production plant to act as a regional hub
    • Passenger Vehicle Segment Overview-North American brands Chevrolet and RENAULT occupy almost half of Colombia's passenger cars segment
    • Commercial Segment Overview-With sales of 5000 units, Chinese brands CHERY, DFSK, FOTON and JAC accounted for 4.0% of the market in 2016
    • 2 Wheeler Segment Overview-Japanese, Chinese and Indian brands dominate the 2 wheeler market; 93% consumption catered by domestic production
    • 3 Wheeler Segment Overview-Chinese and Indian brands dominate the 3 wheeler market; Three Tuk-Tuk assemblers and three large importers dominate the market
    • Tractor Segment Overview-Negligible tractor production, market serviced by imports; SONALIKA is the only strong brand imported from India
  • Key Takeaways in Colombian Auto Component Aftermarket
    • Trends in the Colombian Automotive Market-Hero Motors constructing a production plant in Colombia, Bajaj is a strong player
    • Aftermarket Auto Component Market Size-Auto component aftermarket in Colombia accounted for US $3,000 million in 2016
    • Aftermarket Auto Component Maintenance & Parts Replacement Practices-High demand for cheap Chinese imports across vehicle segments
    • Vehicle Servicing Infrastructure in Colombia-Preferred service channel uses a mix of OEM genuine parts, aftermarket branded, and high quality Chinese parts
    • Colombia Auto parts Association: ASOPARTES-Supports social, commercial and technical objectives; sets standards, represents industry interests, integrates the market
    • Auto Component Import Trends-Auto components imports grew by 5.2% CAGR over 2009-2014; most demand catered by imports from North America, Europe and China
    • Importer-Distributors' Sourcing from China-Share of Chinese imports in some component categories (quality perceived to be low) not as high
    • Chinese Auto Components in Colombia-Reverse engineering capability of Chinese manufacturers - a significant advantage over competing manufacturers from other countries
    • Perception of Indian Auto Components-Colombian Automotive stakeholders perceive product range and product development capability as key concerns
  • Frost & Sullivan Advisory
    • Stakeholders willing to pay incremental premium for Indian parts over Chinese for their better quality
    • Critical Success Factors for Aftermarket Components in Colombia- Improvements in brand image, such as packaging design and brand recognition are key to success in aftermarket
  • Annexure: Our Services
    • Maximize opportunities from existing products and markets; systematically explore new products, markets, including inorganic Opportunities
    • Our Growth Consulting Canvas

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