The primary driving forces in the aftermarket for cars and light trucks is the number of cars on the roads and their mileage. Global trends and new technology contribute to a changed need among the customers, creating new growth opportunities.
28% market share in Denmark
25% market share in Finland
25% market share in Norway
4% market share in Poland
15% market share in Sweden
8% market share in the Baltics
*Proportion of spare part sales to workshops
As a rule, the need for maintenance and repair does not increase until the cars reach an age of five years. At the same time, new automotive technology and other global trends are creating new needs and expectations among the customers, including when it comes to digitalization, sustainability and availability. The need for new solutions and services, regardless of the age of the cars, provides an opportunity for existing actors to broaden and integrate their offers or for new actors to enter the market.
Economies of scale through acquisitions
One trend in the European aftermarket is to take advantage of economies of scale through the acquisition of other actors. Partly to leverage synergy effects and partly to have a greater possibility of investing in future customer offerings. MEKO’s acquisition of Sørensen og Balchen (2011), MECA (2012), FTZ and Inter-Team (2018) and Koivunen (2022) are successful examples of this. Different countries have made varying progress in this consolidation. The Nordic market is more consolidated than the Polish market.
Global trends create new growth opportunities
For us, It is important to have a strong understanding of how the market and our customers’ needs change and how we are affected by it. By making use of these driving forces, we create long-term and sustainable growth.
Digitalization of the customer journey creates integrated solutions, transparency and simplicity for both workshops and car owners. At the same time, it creates major opportunities for more efficient logistics through the shortening of value chains and optimization of logistics flows.
Analysis of data provides better understanding of the needs of workshops and car owners. By drawing conclusions from data, we can automate the flows and create tailor-made customer offerings.
Carpools, leasing and other kinds of car ownership are creating new customer needs and new business opportunities. For example, solutions for simplifying carpooling or the
In order to reduce the climate impact from the transport sector, there is currently a shift from fossil-fueled vehicles to electric and hybrid cars. New technology demands new expertise in the workshops and more flexible business models to create profitability as a result of fewer spare parts.
Modern technical equipment, which among other things helps the drivers to park and navigate, requires new expertise and calibration equipment in the workshops. An important new business to compensate for traditional cars with internal combustion engines in all likelihood decreasing in number in the future.
Data from connected cars can be used to develop new solutions that make life easier for drivers. This includes services that simplify the planning and maintenance of the cars and, in the longer term, remote maintenance.