The automotive market is growing at a fast rate across the globe. With the quality of cars increasing year by year, many people are retaining their cars for a longer duration and this means that along with the sale of new cars, the automotive aftermarket sector is also growing at a fast pace. Ford has now ventured into the USD 500 billion global automotive aftermarket sector by setting up a new auto parts brand named Omnicraft.
This move will further strengthen Ford’s efforts to position itself as not just a car manufacturer, but as a mobility services company that has interests in every aspect of the automotive industry ranging from connected cars, ride-sharing, self-driving cars to now, automotive parts.
Omnicraft parts and service will cater to both Ford and non Ford customers and will begin by stocking 1,500 of the most requested auto parts including brake pads and rotors, oil filters, starters, alternators and loaded struts. Eventually, the company is hoping to expand this range to over 30 parts categories comprising 10,000 parts. Ford will not be making these parts, but will be sourcing them from the company’s suppliers and selling them to customers with a markup.
This will bode well for the company in the future as with the advent of electric cars, vehicles will need much less servicing in the future. Electric cars will either not need or will need services like fluid flushes, oil changes and even brake pad and rotor replacements at longer intervals. Ford itself is shortly planning to launch an electric SUV.
By establishing an automotive aftermarket subsidiary, Ford will make hay while the sun shines as it will make maximum money from parts while the internal combustion is still the engine of choice for the majority of the customers.
Commenting about Omnicraft, Frederiek Toney, president of the Global Ford Customer Service Division, said that as the average age of vehicles increases, especially in evolved markets like the US and Europe, there will be greater need for auto parts. This is why Ford is seeking to compete with other leading auto brands by offering parts and service for all brands over the life cycle of a car.
Manju Mathew, an MBA in marketing, completed publisher training courses from the Oxford Brookes University and New York University. She started with marketing and PR roles before moving on to her current position as a full time writer. Currently living in Dubai, her life as an expat has sharpened her observation skills and flair for writing. She enjoys writing about luxury cars like Ferrari, Lamborghini, etc even if she can only dream of owning them.
Your email address will not be published. Required fields are marked *
© 2017 Morjan Media LLC. All Rights Reserved.