Counterfeit Car Parts Market Worth US$16 billion Warns New Report

Aug. 18, 2008 - PRLog -- Report Buyer, the online destination for business intelligence for major industry sectors, has added a new report which finds that the global market for counterfeit vehicle parts is worth US$16bn.

The report, ‘Counterfeit Car Parts in the Global Auto Industry ’, which is available at http://www.reportbuyer.com/go/AJA00316 also finds that this market has grown exponentially over the last five years and is growing at an estimated 9-11% a year.

It says that organised crime has shifted into counterfeiting over other forms of revenue.

Authors of the report find that counterfeiters are becoming increasingly sophisticated, in not only production but also in marketing. This includes monitoring regional car markets to fill supply gaps.

The publication, which reports from a gateway market, the Middle East, highlights that car and other vehicle manufacturers and the authorities are struggling to identify counterfeits to curb the problem. It identifies North America as a prime secondary market and states that the source of the problem is in China.

Analysts in the industry have pointed to a transformation in the industry. While in the past, counterfeit parts were mainly restricted to auto parts that were not instrumental in maintaining road safety, currently even counterfeit brake pads, brake shoes and steering linkages are flooding the market.

The report finds that typically, it is maintenance and high-volume items of automotive products which are most often counterfeited.

It is well-known that the sale of counterfeit car parts adversely affects the market for genuine parts. Additionally, counterfeit parts can be hazardous to consumers as they often do not meet quality and performance standards. They also result in damaging the reputation of genuine suppliers and well-known brands.

The report, ‘Counterfeit Car Parts in the Global Auto Industry ’ is available from Report Buyer.

For more information, see:
http://www.reportbuyer.com/automotive/misc_automotive/cou...

Report Buyer product ID: AJA00316

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