Frost & Sullivan Names ZF European Automotive Aftermarket Company of the Year 2018
- Awarded for excellent leader & partnership skills, vision and preparation for future mobility
- Criteria measured against Visionary Innovation & Performance and Customer Impact
- Presentation made at Frost & Sullivan Best Practices Awards Banquet in London
London/Schweinfurt, Germany. ZF has been named as Frost & Sullivan’s European Automotive Aftermarket ‘Company of the Year’ 2018. Independently measured against a list of criteria under the headings ‘Visionary Innovation & Performance’ and ‘Customer Impact’, ZF Aftermarket beat off stiff competition to take the title. The award was presented at Frost & Sullivan’s Excellence in Best Practices Awards Banquet on October 4th, 2018 at the Royal Garden Hotel in London.
“Against a competitive and challenging market backdrop, ZF Aftermarket’s industry leader and partnership skills in the field of advancing mobility make it a true and worthy winner of the title `European Automotive Aftermarket Company of the Year’,” explains Benson Augustine, Senior Research Analyst Frost & Sullivan.
“With proven examples of being first to market with new solutions, we believe the business expertly combines delivery of best practice; in terms of growth, innovation and leadership – maximizing customer value and experience – with the art and science of futureproofing its offer.”
Excellent Standard of Competition
ZF Aftermarket beat off stiff competition from across Europe to take the title. Frost & Sullivan analysts independently evaluated two key factors: Visionary Innovation & Performance and Customer Impact. These were measured against a list of criteria which included: addressing unmet needs; visionary scenarios through Mega Trends; best practice implementation, financial performance, price & performance value, customer and service experience and brand equity.
Across the board ZF Aftermarket achieved a point score of 9 out of 10; the next best scores of other companies in the running being 8 and 7 respectively.
A detailed report prepared by Frost & Sullivan paid particular attention to a number of key areas in which it believes ZF Aftermarket excels. In a competitive and crowded market place, the businesses forward thinking ethos was praised. Of particular note, how it leverages value-added customer benefits from the ZF Group, and properly aligns its associated distributor partners in the aftermarket value chain to adapt to changing market trends.
Furthermore, the commentary explains how ZF Aftermarket has embraced a growing appreciation for, and acceptance of: shared mobility concepts, urban mobility platforms, rising hybrid technology, e-mobility and autonomous driving. It states how ZF Aftermarket clearly understands rising hybrid technology and the quantum of impact electric vehicles (EVs) and autonomous cars will have on the general aftermarket, and how it has aligned its goals to prepare for the impact.
The article commends the solutions and component expertise under the brand portfolio: Lemförder, Sachs, TRW, and Boge. Furthermore it applauds the company’s exposure to different industries such as wind technology, rail with respect to urban mobility, and construction, and how this helps it share and leverage technology borrowed from different avenues for downstream business as well as implement best practices across verticals. Frost & Sullivan appreciates that these far-reaching tactics make the company stand out as a key supplier in the European aftermarket by offering niche capabilities and investing in future technologies by strategically channeling its wide business portfolio.
Upon receiving the award, Ben Smart, Director Global Marketing & Communication ZF Aftermarket commented: “We are extremely proud of this award. It recognizes the hard work, vision and dedication of our global aftermarket team.
“We also applaud our customers, whose daily choices to support the organization contribute in a meaningful way to its future.”