Aftermarket (automotive)

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Aftermarket is an umbrella term for the collective network of vendors who design and sell vehicular components that are intended to replace the stock manufacturer's parts. The two main reasons for this are (i) in order to alter the appearance or performance of the vehicle; or (ii) as a straight replacement for a stock item at a lower price, with no intention to cause such a change in appearance or performance.

The criteria used to design a vehicle are based in large part on the features that would sell to the widest audience at a reasonable price for the vehicle's class. Appearance, price, reliability, and fuel economy are typically factors in the decision-making process.

The aftermarket has become the means by which one may customize one's vehicle to suit a particular personality (tuning), to provide a role not satisfied by the stock vehicle (i.e. plug in kits available for some hybrid cars), or to simply stand out. Aggressive styling and/or performance enhancements, which might not be important to, or wanted by the average buyer, usually make up a significant portion of the aftermarket. In fact, some parts come bundled together within a larger kit that one may choose to install in order to alter one's vehicle to a more significant degree.

The aftermarket also caters for the wish of many vehicle owners and insurance companies to have access to replacement parts that are less expensive than the original equipment (OE) spare parts offered by vehicle manufacturers. The use of aftermarket parts by insurance companies has been a source of controversy. In 1998, an Illinois judge handed down a $1.18 billion fine against State Farm for the use of aftermarket parts. Little of that fine was ever paid as the ruling was ultimately reversed by the Illinois Supreme Court in August 2005. According to their website, the Certified Automotive Parts Association (CAPA) is a not-for-profit organization founded in 1987 to organize a program to guarantee and test automotive parts to match the fit, form, function, and quality of Original Equipment Manufacturer (OEM) parts.

[edit] Industry

In the United States, in 2004, the automotive aftermarket industry accounted for $257B in sales. The industry employs 4.54 million people in the U.S.

[edit] External links

[edit] References

  • Aftermarket Factbook, 2005
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