Schaeffler targets 20% of global revenue from aftermarket by 2020 (pic)
NEW DELHI: German auto component manufacturer, Schaeffler AG aims to increase the revenue contribution from aftermarket business to 20% of the total sales globally in the next five years, a top executive of the company informed ETAuto. Currently, the company; which makes engine, transmission and chassis parts, earns about 15% of total revenue from aftermarket business globally.
"Aftermarket enjoys share of 15-20 percent. We have to admit that there are different dynamics of business for any given market, but a share of 20 percent plus within a given environment is our target for next few years" says Robert Felger, Senior VP-Product & Marketing, Schaeffler AG, Automotive Aftermarket.
The German auto component manufacturer has 11,500 distribution centres spread around the world. In India the company has five factories and have three brands -LuK, INA and FAG. Schaeffler currently have about 20,000 products on offer spread across segments - passenger cars, heavy commercial vehicles and tractors.
The company official said that despite of the slowdown in Europe, Schaeffler has been able to continuously innovate and is trying to increase its content per vehicle.
"But, the major challenge is to forecast the demand as any component manufacturer needs to understand that each and every market different at any given point of time the number of models and makes are increasingly drastically." Said Robert.
To overcome this, the company is continuously working with its distributors to know the trend for any given market and also take help of information technology to forecast the demand through data interpretation.
Apart from the three brands LUK, INA and FAG, the company is also planning to launch Ruville aftermarket brand in India which supply 182 parts mainly comprising of steering and suspension parts.
Last year, the company launched Red expert, its online garage and dealer portal to demonstrate its product features and repair solutions.
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