Swedish vehicle inspection specialist Opus is hosting a Capital Markets Day today. One of the key messages is that the need and interest for vehicle inspection is increasing globally. The European approach of both safety and emission control is the model that is gaining most ground, according to Opus’ CEO Magnus Greko.
“With increasing wealth in emerging markets, the demand for cars is increasing. Many times, it is used vehicles from North America and Europe that are imported, and they need to be closely monitored in regards to safety and emission control.”
The demand for overall inspection systems, like in Europe, is therefore increasing. The American model, which primarily focuses on emission control, is mainly expanding in parts of Middle- and South America.
The possibilities for a global expansion are therefore large for Opus, according to CEO Greko.
“In Africa, 4 out of 55 countries have some kind of mandatory inspection, in South America there are some countries and urban areas and in Asia it is only parts of China and a few other countries.”
One problem in these countries is corruption, which leads to the demand for advance technology with a large computerization so officials can be in control.
“Our approach is to use the latest technology in order to minimize the risk for corruption. Sometimes we also assist with the legal processes.”
Even in Europe there is room for expansion. Increased demands on emission control, new active safety technology and zero-tolerance for lethal accidents in traffic, create both challenges and huge opportunities, said CEO Greko.