Supported by National Bureau of Statistics, Commerce Department, China Automobile Dealers Association and Automotive Accessory Standard Committee of AQSIQ, Huidian Research released Research and Prospect of China Automotive Aftermarket, 2013-2017. Firstly, the report makes a summary about integral development of China's automotive aftermarket; secondly, specialized analysis on each market segment is conducted; lastly, it also conducts a predictive analysis on the application of new technologies to automotive aftermarket as well as future development. This report presents a decision-making reference for customers to have an understanding of the latest development of automotive aftermarket in China.
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Turnover of China's automotive aftermarket harvested nearly CNY 500 billion as of 2012, with annual growth rate reaching 26.9% which exceeded the average annual growth rate of 25% in China's automobile sales volume. According to State Information Center's prediction, China's automobile market will remain high growth rate in the next decade. The development of automotive aftermarket is determined by market capacity. Profits determine the quality of this industry. According to related data, the profits of overall automotive aftermarket industry can achieve 40% to 50%, and profits in several market segments can enjoy 100% to 200%.
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There are gaps between China and foreign countries in the aspect of automotive aftermarket, so now many domestic enterprises are learning the service modes of foreign counterparts. For example, some transnational corporations has marched into China and conducted exploration and attempt in the aspect of extended warranty service for new cars and used cars. As for other aspects, including automobile finance, automobile beauty and automobile clubs etc, become more and more specialized and increasing number of enterprises engage in these fields. Huidian Research holds a view that automotive aftermarket will enjoy a more promising prospect and potential than automobile manufacturing and sales.
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