What is it? An aftermarket part is any part of an automobile that is not obtained from that car's manufacturer. For parts that are direct replacements, the vehicle's warranty will stay intact.
Many companies nowadays make auto parts designed to operate very similar to the original, and in some cases even better. Most performance parts are manufactured by aftermarket companies because they are specialized experts in that particular field.
Pros & cons? Whereby aftermarket auto parts are considered to be less pricier and widely available, they certainly boast a greater choice of auto parts to choose from with quality that's equal to the stock parts or OEM (Original Equipment Manufacturer) parts if not always better! The greatest con of aftermarket parts is the lack of warranty. Also if the car owner is not familiar with a variety of available brands, the selection could be tremendous. The quality of auto parts can also vary with each maker.
What is currently available? Drivers can opt for aftermarket parts which can convert their cars into exclusive machines. Options range from aftermarket engine components to car body styling; car owners do not have to endure the car manufacturers' installations anymore. Aftermarket auto parts can be employed for three distinct reasons: boosting performance, altering the look and feel of the vehicle, increasing the vehicle's efficiency.
To cater to any or all of the purposes of the car owner, market offers a variety of aftermarket auto parts for use in brakes and suspension, electronics, engine, exhausts, lubricants, gauges, interior, exterior, wheels and much more.
Some of the most sought-after parts for the above categories include catalytic converters, cat-back and turbo-back exhausts, headers, muffler's, fuel filters and pumps, torque converters, gaskets and seal sets, spark plugs, throttle bodies, alignment kits, gauges, lights and lamps, chrome accessories, transmission fluids, shock absorbers, seat and steering wheel covers etc.
Future of aftermarket auto parts? Although the aftermarket industry is packed with auto upgrades, entertainment items and vehicle flair, an increased competition from OEM dealerships coupled with the economic climate, increases in gas prices and fewer miles driven is influencing the vehicle owner's behavior. As more and more vehicle owners are transitioning to do-it-yourself repairs to save costs, OEM dealerships are also becoming aggressive for post-warranty service work.
However, the demand and sales report forecasts that the light vehicle aftermarket is projected to rise 3.2 percent annually to reach $85.5 billion by the next couple of years and the dominant aftermarket auto parts market will outpace the do-it-yourself segment by all means.