http://www.engineeringnews.co.za
  SEARCH
Login
R/€ = 14.01Change: -0.02
R/$ = 10.67Change: -0.05
Au 1287.04 $/ozChange: -2.88
Pt 1424.50 $/ozChange: 0.00
 
 
Note: Search is limited to the most recent 250 articles. Set date range to access earlier articles.
Where? With... When?








Start
 
End
 
 
And must exclude these words...
Close Main Search
Close Main Login
My Profile News Alerts Newsletters Logout Close Main Profile
 
Agriculture   Automotive   Chemicals   Competition Policy   Construction   Defence   Economy   Electricity   Energy   Environment   ICT   Metals   Mining   Science and Technology   Services   Trade   Transport & Logistics   Water  
What's On Press Office Tenders Suppliers Directory Research Jobs Announcements Contact Us
 
 
 
RSS Feed
Article   Comments   Other News   Research   Magazine  
 
 
Jun 22, 2012

Manufacturer expects to increase parts division’s market share

Back
Engineering|Components|Hyundai|Safety|Equipment|Vehicle Manufacturer|Gary Braude
Engineering|Components|Safety|Equipment||
engineering|components|hyundai|safety|equipment|vehicle-manufacturer|gary-braude
More Insight
© Reuse this



Vehicle manufacturer Hyundai expects its parts division’s market share to grow by at least 75% during the next three years, parts director Gary Braude tells Engineering News.

At this stage, the biggest potential for growth lies in attracting out-of-warranty customers back to Hyundai’s workshops, which is why the manufacturer started repricing its individual components last year, in accordance with the devaluation of its vehicles, he says.

“Parts become cheaper after the vehicle reaches a certain age – usually five years – and there is growing interest in this initiative from consumers,” he adds.

Another potential growth area is the increase of accessory sales.

“The increase in accessory sales will come down to training our dealers, as well as moti- vating and educating our sales staff,” says Braude. “We are seeing positive results from these initiatives, although accessory sales largely depend on the number of vehicles sold.”

Meanwhile, he states that, currently, origi- nal-equipment manufacturers worldwide are losing about 14% of their market share to threats like the grey market. Hyundai is implementing initiatives to counter this.

Imported grey parts are often not of the same standard as that of original Hyundai parts and could affect the safety of the customer, he warns.

He adds that original components are not necessarily more expensive than grey parts. “Hyundai cannot constantly change its prices as the value of the rand changes, as its prices are standardised. However, the prices of grey importers fluctuate and, therefore, the parts are often more expensive.”

Grey importers also do not have the same variety of components readily available as approved Hyundai dealers, he adds.


Further, Hyundai’s Approved Repairer Programme (Harp), which assists customers, who were involved in accidents, through the entire vehicle repair process, is currently tracking the repair of about 1 900 vehicles.

Through this programme, Hyundai tracks the repair process on behalf of the customer to ensure the vehicle is fitted with high-quality components and that work on the vehicle is done according to the manufacturer’s standards.

“Harp agents monitor the progress of the vehicle and provide the customer with constant feedback on its status,” he says.

Harp also strives to decrease the repair costs by working closely with insurance companies, body shops and assessors. The service is provided free of charge to all Hyundai vehicle owners.

“We are actively marketing this initiative to increase interest, as we believe there are currently still about 600 vehicles a month being repaired outside of the Harp programme, as customers are either unaware of it or do not understand the process,” says Braude.

Edited by: Chanel de Bruyn
© Reuse this Comment Guidelines (150 word limit)
 
 
 
 
 
 
 
 
Other Transport & Logistics News
Toyota South Africa Motors (TSAM) will see its exports into Africa drop by around 20% this year over last year, owing largely to policy changes in Algeria and Nigeria. TSAM president and CEO Dr Johan van Zyl says the Algerian government has shifted its support for...
Article contains comments
Business does not support the view that it should absorb the cost of e-tolling, Business Unity South Africa (Busa) said on Friday. "Business has always indicated its willingness to come on board and to explore the funding mechanism [for the improvement of Gauteng's...
More
 
 
Latest News
Updated 5 hours ago The pump prices of both grades of petrol and wholesale diesel, as well as the maximum retail prices of illuminating paraffin and liquefied petroleum gas (LPG), are set to decrease from September 3, the Department of Energy said on Friday. Petrol would drop by 67c/l,...
Updated 5 hours ago The amount owed to municipalities for services has continued to rise, reaching R94-billion by June, compared with the R93.3-billion recorded in December. Households still accounted for the bulk of the aggregate municipal consumer debts; however, this had declined...
More
 
 
Recent Research Reports
Road and Rail 2014: A review of South Africa's road and rail infrastructure (PDF report)
Creamer Media’s Road and Rail 2014 report examines South Africa’s road and rail transport system, with particular focus on the size and state of the country’s road and rail network, the funding and maintenance of these respective networks, and the push to move...
Real Economy Year Book 2014 (PDF Report)
This edition drills down into the performance and outlook for a variety of sectors, including automotive, construction, electricity, transport, steel, water, coal, gold, iron-ore and platinum.
Real Economy Insight: Automotive 2014 (PDF Report)
This four-page brief covers key developments in the automotive industry over the past 12 months, including an overview of South Africa’s automotive market, trade figures, production and the policies influencing the sector.
Real Economy Insight: Construction 2014 (PDF Report)
This five-page brief covers key developments in the construction industry over the past 12 months. It provides an overview of the sector and includes details of employment in the sector, infrastructure and municipal spending, as well as insight into companies’...
Real Economy Insight: Electricity 2014 (PDF Report)
This five-page brief covers key developments in the electricity industry over the past 12 months, including details of State-owned power utility Eskom’s generation activities, funding and tariffs, independent power producers and prospects for the sector.
Real Economy Insight: Road and Rail 2014 (PDF Report)
This six-page brief covers key developments in the road and rail industries over the past 12 months, including details of South Africa’s road and rail network and prospects for both sectors.
 
 
 
 
 
This Week's Magazine
South African State-owned defence industrial group Denel has announced its fourth consecutive year of profits. The group's results for the financial year 2013/2014 were recently announced at its head office in Centurion, south of Pretoria. Revenues grew by 17%, net...
There is little opportunity for JSE-listed infrastructure company Group Five to grow shareholder value in the domestic market, says CEO Mike Upton. He says value can still be found in the private sector, in the renewable and industrial power sector, as well as in...
The National Association of Automobile Manufacturers of South Africa (Naamsa) has announced the event dates of the 2015 Johannesburg International Motor Show (JIMS). The event will take place from October 14 to October 25, 2015, at the Johannesburg Expo Centre, Nasrec.
UK engineering support services provider Babcock is set to deliver the largest order of global truck manufacturer DAF’s truck tractors in Southern Africa to bulk carrier road-based logistics company Ngululu Bulk Carriers (NBC), with 133 trucks to be delivered in...
Digital radio communications in the African local government space can open up the world, but have many challenges to overcome, notes integration and migration of legacy radio communications infrastructure with digital mobile radio company Emcom Wireless head of...
 
 
 
 
 
 
 
 
 
Alert Close
Embed Code Close
content
Research Reports Close
Research Reports are a product of the
Research Channel Africa. Reports can be bought individually or you can gain full access to all reports as part of a Research Channel Africa subscription.
Find Out More Buy Report
 
 
Close
Engineering News
Completely Re-Engineered
Experience it now. Click here
*website to launch in a few weeks