It’s one of the most dominant industries in the world, but that doesn’t mean it’s invincible. The global automotive industry is worth trillions of USD and shows no signs of slowing down anytime soon, as transportation remains an essential part of life. Every day, nearly every individual across the globe has to get from point A to point B, whether by train, bus, plane or car. Naturally, the owners of cars shouldn’t have to worry about a malfunctioning vehicle. However, unfortunately, that isn’t the reality we live in. Automobile parts are being counterfeited at an alarming rate, with the European Union Intellectual Property Office (EUIPO) stating that roughly €2.2 billion is lost every year due to counterfeiting. That staggering figure doesn’t include the number of jobs lost due to the counterfeiting industry, nor does it reflect the damage counterfeit car parts cause to the innocent public.
An estimated 20% of road accidents are either directly or indirectly related to counterfeit automotive parts. Which indicates that a lot of innocent people are being put in danger due to a corrupt and thriving industry. And that’s exactly why it’s Pointer’s mission to end it.
Ultimately, brands should take responsibility to ensure their customers have cars with authentic, quality parts. It’s the only way to reinforce public safety and protect brand reputation. Fortunately for brands, we’re here to combine forces in a unified anticounterfeiting effort. We offer a variety of online brand protection strategies, tailor-made to every brand and industry. If your brand is at risk, try a free demo to see how we can eliminate your counterfeits together. If you’re curious about learning more about counterfeiting in the automotive industry, you can read our whitepaper here.