·China will become the world's largest automotive aftermarket

The Blue Book of China Automotive Aftermarket, released on October 17, predicts that China's automotive aftermarket will maintain a high-speed growth of more than double digits every year for the next ten to fifteen years. In 2015, the output value of China's auto aftermarket is expected to increase to 700 billion yuan, which will become the world's largest auto aftermarket.

What is "automobile aftermarket"

The aftermarket of automobiles refers to the various services in the process of using automobiles after the sale of automobiles. It is a series of trading activities arising from the various needs and services in the after-sales use of automobiles in the process from the sale to the end of the automobile. General name. The automotive aftermarket includes seven categories: car maintenance, insurance, repair and accessories, auto finance, car modification, used car and car rental, and car e-commerce.

Increase 10 million vehicles per year

The blue book jointly issued by the China Council for the Promotion of International Trade and the professional automobile investigation department said that since 2009, China’s automobile sales have exceeded 10 million, and the number of vehicle sales has been the highest in the world for three consecutive years. The data shows that the current car ownership in China has reached 120 million vehicles, with an annual growth rate of 14%. Car repair, spare parts replacement, refurbishment and beauty, used car trading, scrap car dismantling and other industries will usher in a huge space in the automotive aftermarket.

Aftermarket increased by 26.9%

According to the Blue Book, in the next 10 to 15 years, China's automobile aftermarket will maintain a high-speed growth of more than double digits every year. By 2015, the output value of China's automobile after-sales market is expected to increase to 700 billion yuan, becoming the world's largest automotive aftermarket. In fact, this high-speed growth momentum has emerged in the past few years. The Blue Book quoted China’s consumer network statistics as showing that the “post-market” turnover in 2005 was 88 billion yuan, soaring to 240 billion yuan in 2009 and increasing to 5,000 in 2012. 100 million yuan, the annual growth rate reached 26.9%, exceeding the average annual growth rate of China's car sales.

Industry profits can reach 40%

The automotive aftermarket industry has considerable profits. According to industry insiders, the overall industry profit of the automotive aftermarket can reach 40% to 50%, and individual segments can even reach 100% to 200%. In developed markets, the sales profit of automobiles accounts for about 20% of the profits of the entire automobile industry. The Blue Book also pointed out that every 1 yuan of car purchase will drive 0.65 yuan of car after-sales service, along with the rising level of car consumption, many car owners have improved their understanding of car maintenance knowledge, "three-point repair, seven-point maintenance" to raise The concept of repair is gradually recognized by consumers.

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