A Closer Look: Korean Market Now has Access to CAPA
The Korean market will now have access to CAPA parts as an alternative to OEM.
24 March 2014
The Certified Automotive Parts Association (CAPA) is the first organization to operate a certification program for independently produced aftermarket auto parts in the United States. This program helps auto body repair shops and consumers know that any replacement parts on their vehicles fit, operate to the specifications, and are as safe as those manufactured by the automaker.
Due to the acceptance by the insurance companies, the program has been very successful in the United States as there are currently more than 58 million CAPA certified parts available. But in other regions, specifically Korea, this type of program was only recently just launched.
As a result of recent negotiations, the Korean market will now have access to CAPA parts as an alternative to OEM (Original Equipment Manufacturer, or the automaker) aftermarket parts. But what does this mean and what is the direct impact to the Korean auto market? These alternative aftermarket parts can now enter Korea. Repair shops in this region can maintain quality and safety of vehicles while keeping the pricing lower for insurance companies by offering third-party replacement parts that meet the original manufacturer specifications.
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Today’s expert blogger is Tim Hubbard, Intertek’s Senior Vice President for Transportation Technologies. Tim provides strategic direction for Intertek’s consumer and commercial manufacturing industries, including automotive, electric vehicles, rail, aerospace, marine and construction. Tim is based in the Kentwood, Michigan office.