41.8 billion turnover for components at end 2011 (+3.5%)
For Italy’s automotive components supply chain – an estimated 2,500 firms and 179,000 direct employees (the entire automotive sector employs 1.2 million people) – 2011 was, overall, substantially positive, despite a reversal in trend with less growth at the start of the second six months due to a new wave of economic crisis. Total turnover for the components industry at end 2011 was €41.8 billion (€35.5 billion in the car sector), with growth up by 3.5% compared to 2010 and about 85% recovery of revenues recorded in 2008. The domestic market continues to have strong concerns about prospects for the spin-off segment but, on the other hand, there has been constant and significant focus on exports by companies in the supply chain. For the vehicle spare parts and accessories segment the commercial balance sheet for 2011 was positive at €7.3 billion, 25.9% higher than in 2010. The total value of exports in 2011 exceeded €19 billion – imports stood at €11.8 billion – with €9.69 billion in the first six months of 2012, a downturn of 1.7% compared to the first six months of last year. Despite this slight drop, the commercial balance sheet was in the black at €4.15 billion, thanks to a 9.3% reduction in imports. The weight of the components segment on total exports fell from 5.08% in 2011 to 4.96% in the first six months of 2012, with imports dropping from 2.95% at end 2011 to 2.83%.
Already towards the end of 2011, but above all in 2012, the effects of the economic crises were felt, albeit a little later than in other segments, including the aftermarket” – said Riccardo Buttafarro, coordinator of the aftermarket work group at Anfia Components Group. According to data from the Aftermarket Barometer, a part of the Anfia Components Group that provides statistical information for monitoring market trends from month to month at consolidated level and by single families of products, after 3.7% growth in 2011 compared to 2010 – which closed with a 5.6% increase after a negative 2009 – turnover in the components aftermarket fell by 9.6% in the first six months of the current year. An analysis of the trend for single families of products in the first six months of 2012 shows a two-figure downturn in undercar components (-17.4%), body and cabin components (-16.4%) and electrical and electronic components (-15.7%), but engine components contained the falloff at 5.4% and consumables at 4.1%. The collapse of new car sales in Italy in 2011 (-10.8%) and in the first 9 months of 2012 (-20.5%) means that those in circulation are ageing, which should increase the demand for repairs and maintenance. However, high levels of unemployment, the recourse to redundancy funds – with the strong decline in consumer buying power as a consequence, – the reduction in fuel consumption and distances travelled added to a climate of uncertainty about the future, mean that work is either postponed or reduced to a minimum”.
In 2011, the total value of the Italian spare parts market (excluding tyres, lubricants, paints, accessories, garage equipment) at car manufacturer list prices was €16.1 billion, €8.6 billion of which was for mechanical and electronic parts and the remaining €6.5 billion for body parts. An analysis of the offer shows that spare parts from car manufacturers represent about 40% of the sector at national level, whereas the share held by suppliers of OE components (original or equivalent parts) is 45% and the remaining 15% is made up of the manufacturers of adaptable spare parts (in the bodywork sector specifically, the share held by car manufacturers tends to be above average). The development of eco-friendly technologies – in line with the change in the European law on pollutants and the European Directive on CO2 emissions by cars (with a target of 95 g/km set for 2020) and light commercial vehicles (with a target of 147 g/km set for 2020) – continues to be one of the main trends followed by the entire automotive industry in recent years. It is not just a commitment that involves car manufacturers, it is also a challenge for the manufacturers of OE and aftermarket components. The growth in the number of cars using alternative fuels and in increasingly technological products with longer life cycles contribute to increasing the complexity of the spare parts market, which means that the technical skills of those who carry out repairs have to be constantly updated. “There is another important aspect to be taken into consideration” – Buttafarro added. “The demand for mobility has changed and is now oriented towards a more careful use of cars. On the repair and maintenance front, consumers have become more watchful and tend to look at offers, prices, services and quality in a different light. Aftersales operators must try to interpret this change in behaviour and not be caught unprepared and, above all, adapt the logic of their offer”.
These and many other subjects that are crucial for the automotive aftermarket world” – pointed out Renzo Servadei, CEO of Promotec, which organizes Autopromotec – “will be at the centre of the 2013 edition of Autopromotec, the most specialized international exhibition of automotive equipment and products for the aftermarket, the next edition of which will be from 22 to 26 May 2013 at the exhibition centre in Bologna”.