GfK Asia begins measuring Korean Automotive Aftermarket

GfK Asia is expanding its industry sector coverage despite worldwide concerns in the automotive industry. GfK Korea, a subsidiary of GfK Asia, will start Car Tire measurement in 5 key regions, 4,400 shops (Seoul, Inchon, Kyunggi, Kyungbuk, Kyungnam) and explore further to track Engine Oil and other Spare Parts in future. "We see our move as timely and as a long term investment although the industry is facing a difficult period. We anticipate consolidation and changes which will bring about new growth opportunities alongside global economic recovery" quoted Mr. Stanley Kee, GfK Asia Commercial Director.

In Europe, GfK has been tracking the automotive sector since the 1980s, it is therefore natural for GfK Asia to expand similar tracking in Asia. Besides China and Korea, GfK Asia also plans to launch Malaysia, Indonesia, Vietnam and Thailand in the future for Tire and other Automotive Parts measurement. GfK Korea works closely with "Carpos" – which is Korea’s local Car Mechanic Industry Association, set up in 1999, consisting of about 16,000 members across Korea. GfK Asia Commercial Director, Stanley Kee was recently interviewed by "Carpos Magazine" (an affiliated magazine of the association) Chief Editor, during his recent visit to Korea. The content of the interview can be viewed here (in Korean only).
 
GfK aims to be the leader in providing valuable insights to the automotive industry by measuring the demand of key parts such as Tires and Engine Oil consumption by consumers. This information has never before been available to the industry and will help the parts makers to meet and match market demand. Our unique selling point is long term tracking of the market demand; a true representation of the market using point of sale data.

The full press release is available for download in English and Korean.