The automotive aftermarket and spare parts industry are on the verge of entering a digital transformation. Its current value of 369 Billion USD is expected to grow 3.9% over the next five years (Grand View Research, 2019). With consumers demanding increased transparency, sellers that adopt a digital approach stand to see significant fiscal gains.
Starter recognizes the inevitable digitization of the industry as led by the virtual automotive marketplaces found throughout the US and Europe. “There are an overwhelming variety of vehicles on the roads today, each demanding routine service and repairs. Guessing and hoping for a fair repair price is an unwelcome norm for vehicle owners who are kept hidden from the true cost,” says Ilan Bar, Founder, and CEO of Starter.
Starter is expecting the independent price comparison engine to increase competition and reduce the excessive costs of car maintenance. “Giving drivers transparency in the cost of their parts empowers them to shop around for fair estimates.” Bar states, “as consumers who have been taken for a ride by our mechanics, we are focused on a marketplace which is simple, fast, and easy to use.”
Currently, there is no unified marketplace to find auto parts from reputable dealers. Online bid sites are geographically limited with unreliable sellers. The average consumer is intimidated by the thought of being taken advantage of by their local mechanic.
This negligence has led to vehicles hazardously operating on local roads and highways with check engine or airbag warning lights on. This public danger results in monetary losses due to highway closures by broken down cars or fatal accidents after a car’s safety feature failed to engage.
Starter’s proprietary algorithms will relieve consumer stress by quickly identifying their vehicle and region. With real-time inventory services, sellers have direct access to in-demand buyers. This first of its kind marketplace offers consumers and local garages a competitive edge by allowing them to penetrate new regions.
Encouraging sellers to enhance their buyer’s experience, Starter offers an easy store-creation feature within their platform. Currently, Starter is operating in select regions with a full launch planned for March 2020.