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Replacement Parts for the Automotive Industry Gain Greater Attention

The transition to technologies for visibility, location and Blockchain as electronic validation needs to be deployed as quickly as possible.

According to Wall Street Journal article, Americans are keeping their cars longer. In fact, the total number of vehicles in operation has risen about 10% since 2013.

The impact of longer product life cycles in tandem with a growing product population naturally extends to a discussion centered on increased maintenance servicing and replacement parts demand. A portion of the conversation should be centered on how today’s technological capabilities can improve the evolving business model.

Extending the useful life of a vehicle can provide the opportunity for a greater financial return to the owner. However, in this case, the search for financial reward isn’t the entire story.

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