Fake products have been there for decades now, and in the rural and suburban areas, where people prefer the duplicates over the original for the sheer difference in price, they have been immensely popular. But, its recent rise in the automobile market has brought the industry face to face with a new found horror. Not only do the fake auto parts account for 40 percent of after market sales, but also has caused a good number of accidents. Hence, customer goodwill had also lost in this process. Moreover, unlike FMCG or Apparel, where people buy them simply because they are cheap, fake automobile parts are the incentive of dealers as they receive a commission from the fake manufacturers to pass on these products.
A Double Blow to the Companies
So, the current valuation of counterfeit parts amounts for 10,500 crores to 14,000 crores which have been a worrying rise from the recent figure of 8,500 crores. The more the product is involved in the mechanism of the operation, the greater is the chance of an accident. The lack of legal bounds for aftermarket products, where it is possible to pass off fake parts due to the naiveté of the customer, is troubling in the country.
Initially, it was more rampant in the cars and utility vehicles because of the users’ ignorance, but even seasoned drivers of large carriages like trucks are now being fooled. It is a double blow on the revenue as well as customer safety for any brand.
Duplicate products have an unerring power to enter the market and disturb the brand image. As a brand, it is mandatory to create a master plan to combat their adverse effects from the word go or they will put you out of the market. Looking for the master plan, we can help you, to check more information, visit: http://lasersec.in/automobile.html