The U.S. International Trade Commission recently released its figures on the nation’s exports, which show that U.S. automotive exports were up 14 percent from 2010 to 2011. This is good news for domestic automotive aftermarket suppliers. The logical first question is: “Where are the buyers?”
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In 2010, the world vehicle population – passenger cars, buses, trucks and other commercial vehicles – reached 1 billion. According to World Motor Vehicle Market Report, the annual global analysis produced by the Automotive Aftermarket Suppliers Association (AASA) and its Overseas Automotive Council (OAC), global regions experiencing the greatest growth were Africa, Central and South America, North America, Asia and the Middle East, and Eastern and Western Europe.
Data from the U.S. International Trade Commission follows these growing markets as identified in the “World Motor Vehicle Market Report.” While U.S. neighbors Canada and Mexico account for 78 percent of U.S. parts exports, Asia and Pacific Rim nations are the second largest market with a total of $46 billion. The huge growth in China made it the largest market for U.S. auto parts with $1.2 billion. Australia was next with $742 million, followed by South Korea ($635 million), Singapore ($230 million), India ($173 million) and Thailand ($119 million).
Although European markets have experienced economic uncertainty, the region is the next largest market for U.S. parts. Germany continues to be the region’s biggest market for U.S. parts exports, totaling $857 million in 2011. Growth markets are the United Kingdom ($602 million), Belgium ($294 million) and Russia ($171 million).
Brazil, Chile and Colombia markets experienced the largest growth for U.S. auto parts between 2010 and 2011. According to U.S. International Trade Commission data, exports of U.S. auto parts to Brazil increased 19 percent from 2010 to 2011, Chile was up by 24 percent and Colombia grew almost 36 percent. With approximately $658 million in U.S. auto parts imports, Venezuela was the largest South American market with approximately $658 million.
So, how can U.S. auto parts manufacturers and global buyers in the world’s hottest auto parts markets connect?
The U.S. Commercial Service is a great starting place. Its webinars, publications and educational seminars are packed with information on local market information. Its commercial officers serve in U.S. embassies, consulates and institutes throughout the world and regularly conduct trade missions.
Another great resource is the AASA Overseas Automotive Council, which has helped North American suppliers build global relationships since 1923. OAC provides international intelligence to its members through its bi-monthly e-newsletter, “OAC Global Report.” The annual AASA OAC “2012 World Motor Vehicle Market Report,” mentioned previously in this article, includes data on global vehicle production and assembly, vehicle census summary and U.S. motor vehicle parts trade worldwide. More information about both publications is at the OAC Web site, www.oac-intl.org.
Trade shows provide invaluable face-to-face opportunities for global networking. These shows offer a bonanza of networking events hosted by organizations and businesses, as seen in the busy OAC schedule for 2012.
The Council will hold its popular International Reception again this year during PAACE Automechanika Mexico 2012, slated for July 18-20, in Centro Banamex, Mexico City. Co-hosted by OAC and the Mexican trade association ARIDRA, this annual reception offers attendees a forum to network with new clients and to entertain existing customers.
OAC also will be present at Automechanika Frankfurt, Sept. 11-16, in Frankfurt, Germany. Its exhibit is a convenient meeting place and provides excellent networking opportunities with representatives of international markets. The AASA OAC Reception at Automechanika Frankfurt on Thursday, Sept. 13, is an opportunity to increase corporate international visibility, entertain important customers and connect with European buyers.
OAC supports AASA’s efforts as event co-owner in promoting the Automotive Aftermarket Products Expo (AAPEX), slated for Oct. 30, through Nov. 1, in Las Vegas. AAPEX is the connection to global aftermarket industry leaders, and both AASA and OAC provide services, private meeting spaces and amenities to members at their respective Member Centers during AAPEX. The AAPEX OAC International Reception on Oct. 30 has a well-deserved reputation as the global networking event during AAPEX where attendees can locate new customers as well as entertain existing customers and guests.
Membership in a trade association is a great global networking tool. AASA and OAC provide the networking needed to open new world markets – visit www.oac-intl.org for details.
About the Author
Jeremy Denton
Denton is the executive director of the Overseas Automotive Council (OAC), the international arm of the Automotive Aftermarket Suppliers Association (AASA).