Car boom is happening for real in India. India car market sales estimate that two million units of cars will be sold by 2010. Presently, only eight among 1000 persons owns a car in India. Almost two third of the car market is made up of small cars. Premium cars make up only about 3 per cent so far.
With this increase, auto component business is also set to rise by US$ 5.9 billion in 2008-09 and is slated to hit US$ 20 billion in seven years time.
But do you know that fake auto part business is also rising exponentially with this boom. The fake auto component business is estimated to be around 47 percent. These fake components have even reached the European and US market.
The auto-component industry is roughly worth Rs 41,000 crore, of which fake market worth between Rs 15 crore to Rs 19 crore.
These fake products are packaged as the original equipment and sold to unsuspecting customers. After sale car component are in high demand and counterfeiters knows that they can fool people with cheaper goods.
The common selling parts among the components are the air filters, spark plugs, brake pads, wipers and car interior accessories. Most of the fake components are sold at 40–45 per cent lesser value than the original equipment market rate. Some even sell at 70 per cent lower rate. These parts are easily available in roadside garages. Customers are easily attracted by the price factor and there is high demand for them everywhere.
The cheaper alternatives not only affect the OEM (Original Equipment Manufacturer) profit margins but also put the vehicle in grave potential danger. Fuel efficiency also suffers as engine performance drops.
How to avoid buying fake car components?
Avoid going for discount salesMost discount sales offer counterfeit car parts for sale. Most car part dealers who go for discount sale are trying to push sales of counterfeits. Duplicate car part manufacturers resort to cheap quality material to cut down costs. The result is a weaker car part which does not give desired results. Failure of brake parts or wheel parts could put the car in potential danger of accident. Counterfeiters sell their products using popular car manufacturer brands. They may also duplicate the packaging. These products are always sold at prices lower than OEM’s price.
The best way to avoid being duped is to check the cost of original product with an authorized car dealer. Also check if the company is offering any discount on the product. Then compare the prices with the discounted product and the OEM. Make proper inquiries with other dealers before buying vital car parts.
Impulsive buying could result in huge looses later. However not all unauthorized dealers and roadside garages are there to con you. They could be victims of counterfeiters as much as you are.
Check the literature on packaging
Check online in OEM website
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