Based on research by Frost & Sullivan, the Latin American passenger vehicle market is expected to achieve a number of approximately 5.72 million units in 2019, growing at 4.3 percent year over year. The growth will largely be driven by the recovery of the Brazilian market and the increase of the SUV segment, which will account for almost 25.4 percent of the market following the release of new models and restyling.
Our Managing Director Mexico and Regional Sales Director Central America Fernando Murguia joined the 6th edition of the Latin Auto Parts Expo at the Atlapa Convention Center in Panama City, Republic of Panama from July 17 -19. Latin Auto Parts Expo is the most important auto parts trade show in Latin America and the Caribbean. It connects hundreds of international manufacturers with spare part distributors and wholesalers in LATAM. Why Panama? Panama offers a geographical strategic and economical location where exhibitors can present their products and spare parts to the Latin American and Caribbean tire markets. Panama has become an international air hub making it easy for travelers to reach. About 200 exhibitors displayed a wide array of products such as auto accessories, OEM tools, spare parts, replacement parts, and much more.
Different keynote sessions were held on the second day of the trade show. Fernando took the stage to give insights into the TecDoc Standard as the basis for eCommerce data. Electronic catalogues such as our TecDoc Catalogue 3.0 and the standardisation of data are the first steps towards the eCommerce business. One thing is certain: the whole aftermarket industry is going digital. In a balanced, digital aftermarket world many players profit from digitisation as processes and customer interfaces will become fully digital. An increasing shift towards proprietary channels and partnerships, in particular via e-commerce businesses and workshops is expected.
The Latin Auto Parts Expo was an excellent platform for the joint exchange of experience and its discussions provided great opportunities to strengthen our business in LATAM.
What have we got next? We’ll present our brand-new TecDoc Catalogue 3.0 and order management web portal Entry Supply Web at MIMS Automechanika Moscow from August 26-29. We’d love to see you in Russia!