Counterfeit Auto Parts Market Value: $12 Billion
Counterfeit Auto Parts is the selling of unauthorized parts to be used in the repair and maintenance of an automobile.
The counterfeit auto parts market is a $12 billion market worldwide.
Source: “Fake parts reportedly cost Ford $1B,” CNNMoney.com, January 22, 2007, (accessed: September 25, 2007).
China accounts for $9 billion of counterfeit auto parts loses
Sources: Associated Press, “U.S. firms fighting the flood of fakes,” MSNBC.com, July 7, 2006,(accessed: July 10, 2006).
37 percent of auto parts sold in India are counterfeit
Source: Automotive Aftermarket Suppliers Association, “Counterfeiting-FACTS,”(accessed: May 1, 2006).
$200 million in lost sales for Hyundai due to parts from China
Around $200 million is lost in sales of auto parts to South Korean auto manufacturer Hyundai due to counterfeit parts made in China.
Source: “Chinese Imitations Undermining Korean Exports,” The Chosum Ilbo, January 15, 2007,(accessed: January 24, 2007).
Counterfeit auto parts in Kenya
Motor dealers in Kenya lost 65 percent of their market share to counterfeits in 2006, up from 50 percent in 2005. In addition, over 80 percent of Toyota parts in Kenya were found to be counterfeit.
Source: Roselyne Obala and Jane Akinyi, ” Revenue authority to investigate sale of counterfeit Toyota parts,” The Standard (Kenya), April [...]
US loses $3 billion to counterfeit auto parts
Source: Automotive Aftermarket Suppliers Association, “Counterfeiting-FACTS,”(accessed: May 1, 2006).
Ford Motor Company loses $ 1 billion to counterfeit each year
Source: “Fake parts reportedly cost Ford $1B,” CNNMoney.com, January 22, 2007,(accessed: September 25, 2007).
