The industry is generally optimistic about China's auto market
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“In the 21st century, China’s auto consumption market has continued to heat up, and the number of private cars has increased significantly, directly stimulating the rapid development of the auto market.†Recently, at the China Automotive Aftermarket 2013 Development Forum, the China Automotive Technology and Research Center was chief Huang Yonghe, an expert, said that the development of China’s auto aftermarket has great potential and is a “golden industry†with stable profit sources in the automotive industry chain.
It is understood that the automobile aftermarket generally refers to the market formed by the various services required by consumers in the use of vehicles after the sale of automobiles. The scope of the automotive aftermarket mainly includes automobile finance and insurance, auto parts supplies, car repair and modification, used car and car rental, auto scrap recycling and dismantling.
In 2012, the retail sales of Chinese automotive products reached 2.38 trillion yuan. “The increase in the number of private cars in China will certainly drive the development of the automotive industry in the downstream of the industry chain, such as maintenance of automobiles and modification of leases.†Huang Yonghe said that the profits of the automotive aftermarket account for approximately 60%-70% of the total profits of the automotive industry chain. And the profit is relatively stable.
In this regard, Ning Xiaoyang, chief engineer of China Auto Parts Industry Co., Ltd. shared the same feeling. He said that from the perspective of the industry, the sales revenue of auto parts companies has increased by an average of 28.25% annually, which is higher than the average growth rate of auto-vehicle products by 26%. “The increase in vehicle ownership is a part of the reason, and the main reason is the consumption. As they gradually mature, their demands for auto parts and maintenance are increasing, and they hope to obtain cost-effective professional services."
“After the implementation of the scheme for exempting small passenger car tolls on major holidays, it can obviously feel that it is a boost to the car rental market.†Yang Jisheng, general manager of China Import & Export Automobile Trading Co., Ltd. stated that it is expected that by 2015, China’s autos The demand for vehicles in the leasing market will reach 350,000-400,000 vehicles. However, by the end of 2012, the largest car rental company in China has only 40,000 vehicles, which shows that there is much room for future development.
Huang Yonghe said that the size of China’s auto aftermarket will exceed that of the United States in 2015, becoming the world’s largest automotive aftermarket country, and seeing the huge business opportunities in China’s auto aftermarket include many overseas companies.
Since 2005, the Japanese company Hat, which provides comprehensive automotive services, has started to enter China. In 2013, eight chain stores have been established and are planned to increase to 15 in 2015. Currently, Bosch in Germany has also established coverage in China. The company has a network of parts and components distributors nationwide and owns about 500 distributors; Aiyi Xing, a car repair and maintenance company from Taiwan, also owns nearly 100 chain stores in the mainland.
“Although in this area, foreign direct investment is increasing, and local companies are constantly emerging, but compared with mature markets abroad, the proportion of China’s auto aftermarket in the entire automotive industry is obviously small, and the industry’s standard The entry threshold is low, the standard regulatory system is not perfect, and the government also lacks corresponding supervision and guidance.†Ning Xiaoyang said his worries.
Ning Xiaoyang believes that the shortage of maintenance technicians in China is a key factor that restricts the development of the industry. “The educational background of the maintenance technicians in developed countries is 40% in universities and above, while China is only about 10%, and it should be considered with automotive manufacturers. Establish a training base."