The rise of the automotive aftermarket requires integration

Recently, Yu Yuanyu, vice president of the China Automobile Dealers Association, publicly stated that the after-sales service profit is three times that of the vehicle sales. It is expected that the Chinese auto aftermarket will increase to approximately 490 billion yuan by 2012, with a compound annual growth rate of 26.9%. , Consumption in the automotive aftermarket will usher in the peak period.

The so-called auto aftermarket refers to all kinds of services in the process of car use after car sales. It covers all the services that consumers need after buying a car.

"The development trend of China's auto aftermarket is inevitable." In an interview with a reporter from the "China Sankei Shimbun", Li Yuheng, a senior research fellow at China Investment Corporation, pointed out that, first of all, the automotive aftermarket market contains a very rich profit element, from the European and American countries' automotive industry. In terms of profit distribution, China's auto aftermarket has a very wide development space. Second, China's auto market has entered a stable development stage. After the growth of the new car sales market, the aftermarket can truly reflect its advantages. Once again, reasonable consumption habits, used car market, and increased consumption capacity of residents will further expand the profit margin of the auto aftermarket.

It is understood that in some countries where the automotive industry is more mature, the automotive aftermarket has become the main source of profit for the entire industry. As China's auto market enters the "winter" period, the rise of the auto aftermarket will not only contribute to the upgrading of the entire auto industry, the expansion of the industrial chain and the increase in profitability, but will also contribute to the formation of China's unique auto culture.

"Automotive aftermarket is an important driving force for changing the structure of the auto market." Li Yuheng said that from the perspective of the after-sales market's guiding role in the industry, the auto industry chain market will change, and the integration of auto parts manufacturers will be strengthened. The concentration rate of the automobile industry in China will be greatly increased; in addition, the increase in profits of the after-sales market will promote auto sales companies to place more emphasis on after-sales service revenue, which will change the profit structure of China's auto sales companies.

However, it is worth noting that there are certain problems in China's auto aftermarket, such as the used car market, parts sales specifications, and after-sales maintenance, which have become obstacles to the rapid development of China's auto aftermarket.

"The reason for this is that China did not pay enough attention to the aftermarket. The participating companies are small and miscellaneous. They lack relevant regulations and regulations and mature industrial development strategies. The quality of products and services cannot be guaranteed. At the same time, There is no clear division in the sub-market, the level of professionalism is not high, and the automotive aftermarket is lack of rectification and activeness,” said Tie Zhihai, a researcher in the automobile industry at the China Circulation Productivity Promotion Center, in an interview with a reporter from the “China Sankei Shimbun”.

In this regard, Tie Zhihai pointed out that for the development of the automotive aftermarket, first of all, it is necessary to scientifically and rationally divide the market segments, which will help improve the professional level of the industry; secondly, formulate practical and feasible strategic plans for industrial development; again, formulate relevant laws and regulations. , Standardize market behavior, protect consumer rights and interests; Finally, integrate resources and cultivate high-quality enterprises.

Li Yuheng suggested that, first, the government should guide the auto aftermarket into the rectification period through reasonable and perfect administrative measures. Second, we report our hopes for the market consolidation of large companies. A well-funded listed company can play a role in industry rectification. The role of benchmarking, which we recommend the industry to encourage after-sales service companies to market; Third, the importance of market competition determines the market's rectification effect, continue to develop after-market profit margins is to improve and standardize the automotive aftermarket market fundamental approach.