BRIEFING: Counterfeit car parts in the global auto industry
The global market for counterfeit vehicle parts has grown exponentially over the last five years to be worth US$16bn worldwide and is growing at an estimated 9-11% a year, as organised crime shifts into counterfeiting over other forms of revenue. With counterfeiters becoming increasingly sophisticated, in not only production but also in marketing (monitoring regional car markets to fill supply gaps), car and other vehicle manufacturers and the authorities are struggling to identify counterfeits and curb the problem in the face of such an onslaught. just-auto reports from a gateway market for these parts - the Middle East; a prime secondary market - North America; and the source of the problem - China.
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