With nearly 270 million vehicles registered in the United States, all of them needing a part in their lifetimes if they are not totalled driving off the sales lot, the motor vehicle parts industry is a vital industry.
Changes are constant, not only because of modifications made for each model year, but for the underlying technology and materials.
With a trade war disrupting supplies and foreign companies opting to create localized manufacturing facilities, growth has been strong in the auto parts industry despite indicators that the opposite would be true.
In a digitized world, data is both the lifeblood and currency of business. Without quality data and a way to utilize it, every day becomes an uphill battle.
Making critical, informed decisions becomes exponentially easier when data is used to hone in on a course of action.
Reaching the right manufacturers means not just having the right information, but knowing what to do with it.
The automotive parts industry is a significant part of the national and global economy, historically contributing roughly 3.5% to the U.S. gross domestic product.
What many people don't appreciate is that every car that rolls off the assembly line is a finely tuned collection of parts from suppliers and manufacturers.
Here, we will look at three major challenges the executives of those companies deal with every day.
The manufacturing world can be complicated to navigate as a marketer. With so many options for manufacturers, it takes a sharp marketing plan to stand out from the competition and create a unique image.