Recently, researcher Roland Berger of Japan (Roland Berger) and male man wrote a special report on the Chinese auto after-sales market for Nikkei BP. He believes that with the rapid growth of the Chinese auto market, the Chinese auto aftermarket is full of charm.
According to Roland Berger’s speculation, the size of China's auto aftermarket in 2002 was 50 billion yuan, compared with 23 billion yuan in 1997, and the market scale has more than tripled in five years. This growth rate is also unique in the world. China has become the third largest market in Asia after Japan and South Korea. Roland Berger predicts that by 2010, the market size will reach 190 billion yuan, which is second only to Japan in Asia.
Parts repair market can grow
China's auto aftermarket is roughly divided into the repair, replacement parts market and automotive supplies market. There are many factors that affect the repair and replacement of the parts market. They are mainly the total number of cars, the distance to use, the period of use (average age), the durability of the car, the number of accidents, and the provisions of the legal system. In 2001, the total number of cars in China was about 18 million. After that, the annual growth rate of more than one million vehicles was maintained. It can be inferred that the scale of the automobile aftermarket will be further expanded. On the other hand, passenger vehicles in China travel about 20,000 to 30,000 kilometers per year on average. About 10,000 kilometers in Japan, even in the United States of the automobile kingdom is only about 19,000 kilometers, so China's auto use rate is quite high, and the maximum service life of Chinese cars has been extended to 15 years, which will increase the scale of auto aftermarket Quite favorable.
The user's preference does not have any impact on the automotive aftermarket. The greatest impact is on the durability of accessories and the number of traffic accidents that are closely related to the replacement and maintenance of accessories. There is not much problem with the durability of Chinese cars, but the traffic accident rate remains high, far higher than the growth rate of the number of cars, which may drive the maintenance market.
Enthusiasts pull supplies market
As with the repair and replacement parts market, another major pillar of the aftermarket is the automotive supplies market. The main customers of this market are individual users, also known as car enthusiasts, whose typical features are those of the foreign-funded enterprises in the coastal areas with more than 10,000 yuan in annual income. These people are not necessarily out of the country, but are highly educated. Of course, the number of such owners is very limited. Their demand for vehicle personalization and differentiation is quite high.
According to a survey conducted by Roland Berger's China office, most of the individuals who buy a car will purchase car audio or CD car audio at the same time. Among the users who purchase audio, 85% purchase car audio, and the purchase of CD car audio is 15%.
The main items purchased by individual users in the store after purchasing a new car are vehicle accessories, tools, car CDs, safety systems, car waxes, foams, and fragrances. In particular, it is worth mentioning that the safety system has been very popular recently. The reason is that high-grade cars are easy targets for theft, and the security situation is also deteriorating.
Japan's auto parts makers aggressively attacked China
At present, in China, there are 20,000 to 300,000 independent dealers engaged in vehicle repairs, replacement of parts and supplies, and concurrent maintenance and sales. In addition, there are integrated stores such as tire stores and battery stores that integrate products from manufacturers and parts suppliers.
The trend of foreign parts suppliers is worth noting. Japan's largest auto parts dealer, Yellow Hat, plans to open stores in China in the fall of 2004. At that time, the stores in China will be the same as Japan. In addition to the automotive products, the company plans to start selling oil, tires, installing tires, and replacing oil.
In addition, Apollo Service, a distribution subsidiary of Idemitsu Kosan, cooperated with PetroChina, China's largest oil company, and began trial operation in Beijing since February 2003 to provide automotive supplies for sales and replacement of engine oil. The first gas station for car washing and other services. Nippon Oil also plans to carry out the same service, the company intends to carry out supplies sales and carry out a variety of services in order to open the gap with the old gas station.
Japan's accessories manufacturers are not far behind, and Japan Denso has reached an agreement with China's National Automobile Fittings Market Association in terms of sales, strengthening sales in 55 locations in 37 cities in 22 provinces. Yokohama Tire also started to build a tire monopoly network of the company's brand.
Therefore, China's auto aftermarket will become a coveted market due to its size and growth rate. Due to the formal entry of foreign capital and the reorganization of the circulation network, the industrial structure of this market is undergoing dramatic changes. Only companies with long-term vision and long-term strategies can become real winners.
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According to the statistics of TheFreedonia Group, the composition of China's auto aftermarket is as follows: 56% of mechanical parts represented by engine parts and exhaust system parts, 30% of electrical parts such as batteries and car lights, in-car audio and security systems, etc. Electronic components account for 14%.