Table of Contents
Overview
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- What you need to know
- Covered in this Report
- Definition
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- Figure 1: Definition of different monthly household income groups, by city tier
- Excluded
Executive Summary
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- The market
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- Figure 2: Best- and worst-case forecast of auto aftermarket value, China, 2012-22
- Companies and brands
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- Figure 3: Top 10 players in automobile aftermarket, by sales value, 2015 vs 2016
- The consumer
- Aging cars and changing maintenance structure
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- Figure 4: Average number of years since purchase, August 2017 vs July 2016
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- Figure 5: Claim rate on ‘I share the responsibilities for this with other family members’, by gender and age, August 2017 vs July 2016
- Thriving independent auto shops
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- Figure 6: Place to get maintenance, by different service providers, August 2017
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- Figure 7: Gap between female and male car owners (benchmark) on the places to get selected maintenance, August 2017
- Three different car maintenance groups
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- Figure 8: Gap between Enthusiasts and all car owners (benchmark) on interested social media information, August 2017
- What we think
Issues and Insights
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- The thriving opportunity for independent auto shops
- The facts
- The implications
- Why online to offline mode is not working in auto aftermarket
- The facts
- The implications
- Which car owner group should service providers focus on?
- The facts
- The implications
The Market – What You Need to Know
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- A market with great potential
- Multiple market factors
Market Size and Forecast
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- A double-digit growing market
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- Figure 9: Best- and worst-case forecast of auto aftermarket value, China, 2012-22
- One of the fastest growing segments among household expenditure
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- Figure 10: Consumer expenditure and growth rate, by selected sector, 2016
- Outstanding growing speed compared to mature markets
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- Figure 11: Market size of auto aftermarket, by selected markets, 2011-16
Market Drivers
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- Supportive regulations
- Increasing car parc
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- Figure 12: Car parc and annual growth rate, by selected markets, 2011-17(est)
- Rising road mileage and density
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- Figure 13: Total road mileage and density in China, 2012-16
- The rise of specialised online platforms
- High maintenance spending contribution per car
- Stepping out of the warranty period
- Stay longer in maintenance
Key Players – What You Need to Know
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- Dealer groups are having diversified development
- Return to offline
- Small but beautiful
Market Share
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- Top players are seizing shares from the rest
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- Figure 14: Top 10 players in automobile aftermarket, by sales value, 2015 vs 2016
- Diverse changes in aftersales revenue
Competitive Strategies
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- Expanding channels to the market
- Expanding customer base
- Focus on offline
Who’s Innovating?
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- Starting a business on WeChat
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- Figure 15: Official WeChat account and mini program of Iyourcar
- Parking slot sharing
- Second-hand car finance
The Consumer – What You Need to Know
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- Tier two and three city families own more cars and stay longer in maintenance
- Females and tier one city car owners are frequent maintainers
- Thriving independent auto shops
- Different types of maintenance service users
Car Ownership and Maintenance Responsibility
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- More tier two and three city families owning more than one car
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- Figure 16: Car ownership, by city, August 2017
- More family members involved in car maintenance
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- Figure 17: Car maintenance responsibility, August 2017 vs July 2016
- Females in their 20s becoming increasingly important
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- Figure 18: Claim rate on ‘I share the responsibilities for this with other family members’, by gender and age, August 2017 vs July 2016
Car Usage Duration
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- Increasing overall ownership length
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- Figure 19: Average number of years since purchase, August 2017 vs July 2016
- A nearer wave of replacement
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- Figure 20: Car usage duration, August 2017 vs July 2016
- 40s in tier two and three cities stay longer in maintenance
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- Figure 21: Car usage duration, by demographic groups, August 2017
Maintenance Frequency
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- On average five times of maintenance per year
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- Figure 22: Car maintenance frequency, by minor and deep maintenance, August 2017
- Female car owners are frequent maintainers
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- Figure 23: Car maintenance frequency, by gender and age, August 2017
- Tier one city car owners are frequent maintainers
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- Figure 24: Gap between tier one city and tier two and three city car maintenance service users (benchmark) on maintenance frequency, August 2017
- Experienced Drivers perform less frequent maintenance
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- Figure 25: Gap between Experienced Drivers and general car owners (benchmark) on maintenance frequency, August 2017
Choice of Service Providers
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- 4S stores remain the default choice for deep maintenance…
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- Figure 26: Place to get maintenance, by different service providers, August 2017
- …but Experienced Drivers are leaving 4S stores more quickly
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- Figure 27: Gap between general car maintainers and Experienced Drivers (as benchmark) on adoption rates of 4S stores on selected maintenance services, 2017 versus 2016
- Independent auto shops are thriving
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- Figure 28: Adoption rate of independent auto shops on selected maintenance services, 2017 versus 2016
- Online platforms seem to fail market test once incentives are withdrawn
- Different preferences between male and female car owners
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- Figure 29: Gap between female and male car owners (benchmark) on the places to get selected maintenance, August 2017
- DIY is about lifestyle
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- Figure 30: Key drivers of choices of service providers, August 2017
Interested Social Media Information
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- Not just about selling a car
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- Figure 31: Interested social media information, August 2017
- DIYers look for more lifestyle information
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- Figure 32: Gap between DIYers and general car owners (benchmark) on the interested social media information, August 2017
- Female car owners pay more attention to driving tips
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- Figure 33: Gap between female and male car owners (benchmark) on the interested social media information, August 2017
Car Maintenance Attitudes
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- Mapping out the different car maintenance service users
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- Figure 34: Segmentations of car maintenance service users, August 2017
- Figure 35: Attitudes towards car maintenance, % of strongly agree, by consumer segmentation, August 2017
- Doubters
- Who are they?
- Maintenance habit
- How to target them?
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- Figure 36: Gap between Doubters and all car owners (benchmark) on interested social media information, August 2017
- Enthusiasts
- Who are they?
- Maintenance habit
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- Figure 37: Car maintenance responsibility, by consumer segmentation, August 2017
- Figure 38: Gap between Enthusiasts and all car owners (benchmark) on interested social media information, August 2017
- How to target them?
- Let-it-be-ers
- Who are they?
- Maintenance habit
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- Figure 39: Car usage duration, by consumer segmentation, August 2017
- How to target them?
Meet the Mintropolitans
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- Higher maintenance frequency
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- Figure 40: Gap between MinTs and Non-MinTs (benchmark) on maintenance frequency, August 2017
- The call of social element
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- Figure 41: Gap between MinTs and Non-MinTs (benchmark) on interested social media information, August 2017
- Skewing towards Enthusiasts
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- Figure 42: Types of car maintainers, by consumer classification, August 2017
Appendix – Market Size and Forecast
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- Figure 43: Total market value of auto aftermarket, 2012-22
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Appendix – Methodology and Abbreviations
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- Methodology
- Fan chart forecast
- Abbreviations
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