In recent years, the number of cars in China has continued to rise, and the car culture has become increasingly prosperous, and the automobile aftermarket has continued to heat up. On the one hand, the types of services in the automotive aftermarket are becoming more and more diversified, not only providing services around the vehicle itself, but also extending to services around car owners and their lives, and many emerging services such as personalized vehicle modification, owner life communities, and owner e-commerce platforms have emerged. On the other hand, the background of participants in the automotive aftermarket is also becoming more and more diverse, in addition to traditional car companies, dealers, offline chain brands, Internet companies, technology companies, comprehensive supermarkets, home appliance companies, auto supplies companies, etc. have cut into the aftermarket track and joined the competition.
However, it cannot be ignored that the current automotive aftermarket in China is still in the early stage of industrial development, showing the characteristics of low industrial concentration, although the head brand has appeared but has no obvious advantages, the majority of small, scattered and weak enterprises, uneven service quality, and low market standardization. So, how will the automotive aftermarket develop in the future? What other potential opportunities exist? These issues are undoubtedly the most concerned and important topics worthy of in-depth discussion in the current industry.
In this issue, China Exportsemi will conduct an in-depth analysis of the "2024 China Automotive Aftermarket Annual Development Report (Passenger Cars)". The report, jointly compiled by the China Association of Automobile Manufacturers and H&J Consulting, fully sorts out the business status, participants and potential development trends of each link of the automotive aftermarket industry chain, and hopes to provide a useful reference for automotive aftermarket practitioners to explore the future development trend of the industry.
Definition of China's automotive aftermarket
China's automotive aftermarket refers to the various services around the entire use process of the car after the car is sold. It covers all the services that consumers need after buying a car, including but not limited to car maintenance, repair, parts replacement, beauty decoration, modification and upgrading, etc. To put it simply, in the process of selling to scrapping a car, the general term of a series of trading activities generated around various subsequent needs and services in the after-sales use of the car can be classified into the automotive aftermarket. The China Association of Automobile Manufacturers divides the business of the automotive aftermarket into nine categories, namely auto parts supply, after-sales maintenance services, automotive aftermarket, auto finance, second-hand cars and car rental, automobile culture, automobile scrap recycling and remanufacturing, automobile professional market and others. From the perspective of chivalrous scope, the automotive aftermarket usually refers to the after-sales service of automobiles centered on automobile repair and maintenance.
Figure: Automotive Aftermarket Industry Chain (China Association of Automobile Manufacturers)
China's automotive aftermarket industry chain
China's automotive aftermarket industry chain is a large and complex system that covers all services from after the sale of the car to before the car is scrapped. It mainly includes the following core links:
Car sales: This is the basis of the entire chain, including the sale of new and used cars. With the growth of consumer demand for automobiles, the market size of this segment continues to expand.
Auto Insurance: Provide various car-related insurance services, such as car damage insurance, third-party liability insurance, etc., to provide economic protection for car owners.
Automotive Repair & Maintenance: This is a major service area in the automotive aftermarket, including scheduled maintenance, breakdown repair, and parts replacement. Professional repair stations and 4S shops are important participants in this link.
Auto Parts & Supplies: Supply a variety of auto parts and daily necessities, such as tires, lubricants, detergents, etc. This involves multiple levels, including manufacturers, wholesalers, and retailers.
Car rental and sharing: With the development of the sharing economy, car rental and sharing services have gradually emerged and become an emerging market segment.
Automobile scrap recycling: When a vehicle reaches the end of its useful life or needs to be scrapped for other reasons, there will be a professional scrap recycling company to deal with it, including the recycling of scrap metals.
In the new economic environment, the industrial chain structure of the automotive aftermarket is changing. For example, online platforms are beginning to emerge as a new force in the industry; The government has continuously strengthened the supervision of the industry, and issued a series of laws and regulations to regulate the market order; At the same time, the application of new technologies such as the Internet, big data, and artificial intelligence is changing the service model of the automotive aftermarket. In addition, the diversified and personalized needs of consumers also prompt companies to provide higher quality services to meet market demand.
Related:
Analysis of the 2024 China Automotive Aftermarket Annual Development Report (1)
Analysis of the 2024 China Automotive Aftermarket Annual Development Report (2)
Analysis of the 2024 China Automotive Aftermarket Annual Development Report (3)
Analysis of the 2024 China Automotive Aftermarket Annual Development Report (4)
Analysis of the 2024 China Automotive Aftermarket Annual Development Report (5)
Analysis of the 2024 China Automotive Aftermarket Annual Development Report (6)
Analysis of the 2024 China Automotive Aftermarket Annual Development Report (7)
