01 Aug CAR CARE MADE SIMPLE: AN AUTO PARTS KEYNOTE SPEAKER AND FUTURIST CONSULTS
Ask an auto parts keynote speaker and car futurist: If your vehicle has ever broken down or been in need of a repair, it’s easy to understand the importance of this industry. At the same time, unless you’re a driver or enthusiast who finds themselves in need of certain equipment, you may not be aware of all the finely-tuned machinery that goes into your favorite car, truck, van, etc. Happily, your favorite auto parts keynote speaker and car futurist is here to help with a handy cheat sheet to some of the types of products you can buy, and service providers who offer them. Without further ado, let’s jump right in and see what’s happening under the hood of the industry…
- OEMs – Original equipment manufacturers that produce parts directly for vehicle manufacturers. Think Bosch, Denso, Magna.
- Replacement parts manufacturers – Produce aftermarket components to replace worn out parts on vehicles, or so auto parts keynote speakers and car futurists tell us. Some illustrations are companies like Moog, Timken, ACDelco.
- Salvage yards – Sell used, OEM recycled auto parts harvested from damaged vehicles.
- Remanufacturers – Take worn parts, extensively refurbish or rebuild them to OE specifications and sell as remanufactured parts.
- Private label brands – Auto parts sold under a retailer’s own brand rather than the OEM brand. Common for retailers like AutoZone, NAPA, etc. as any auto parts keynote speaker or car futurist can tell you.
- Specialty equipment suppliers – Focus on parts for performance, racing, customization rather than factory replacement parts.
- Distribution/logistics – Provide storage, inventory management and delivery of parts to retailers and service centers.
- Retail chains – Large retailers with a chain of brick-and-mortar stores selling a variety of aftermarket parts to DIY customers – a favorite among auto parts keynote speakers and car futurists.
- E-commerce retailers – Sell auto parts strictly through online channels and ship to customers or installers.
- Jobber stores – Smaller independent retailers that focus on servicing professional repair shops rather than retail customers.
The auto parts sector encompasses this diverse range of manufacturers, distributors and retailers supplying OEM and aftermarket components. The competitive dynamics differ significantly across these types of companies, however.