On the eve of New Year's Day 2024, we will conduct a comprehensive review of the development of China's automotive aftermarket in 2023.
This year, coinciding with the reform of epidemic prevention and control policies, the three-year lockdown policy will be completely removed in 2023, and the market will usher in the opening up. In 2023, we have witnessed the transformation of the market, and we have also witnessed the continuous innovation and change of enterprises in the midst of challenges. The market is good or bad, each has its own considerations, no matter what the economic environment is, moving forward is the only direction, looking back on the past, continue to move forward.
The rise of new energy vehicles and the transformation of traditional maintenance business
With the rapid expansion of the new energy vehicle market, the demand for related maintenance is increasing. In 2023, the penetration rate of new energy vehicles will further deepen, which will bring great challenges to the traditional automobile maintenance business. In order to adapt to this trend, many auto repair companies have begun to transform to provide repair and maintenance services for new energy vehicles.
In terms of the repair and maintenance of new energy vehicles, the maintenance and replacement of batteries has become a key business area. As battery technology continues to advance, so does the need for services such as battery testing, charging, and replacement. Many maintenance companies have begun to introduce professional battery testing and charging equipment and train professional and technical personnel to meet the needs of the new energy vehicle market.
In addition, with the continuous innovation of new energy vehicle technology, the upgrading of related parts and components has accelerated, which also puts forward higher requirements for the technical capabilities and parts chain of maintenance enterprises. In order to keep up with the pace of technological updates, maintenance companies need to constantly update their own technical equipment and knowledge system, and maintain close cooperation with new energy vehicle manufacturers to ensure the timeliness and accuracy of accessories.
The application of digital and intelligent technologies in the automotive aftermarket is expanding
In 2023, the application of digital and intelligent technologies in the automotive aftermarket has received widespread attention. Emerging service models such as intelligent diagnostics and remote technical support provide more efficient and convenient technical solutions for maintenance companies. The application of digital technology enables maintenance enterprises to achieve information management and improve operational efficiency. By establishing a digital platform, enterprises can grasp the status of vehicle maintenance and spare parts inventory in real time, and optimize the management process. In addition, the digital platform can also provide customer management functions to personalize customer services and improve customer satisfaction.
The application of intelligent technology improves the maintenance quality and service experience. For example, the intelligent diagnosis system can quickly and accurately determine the cause of the fault through the analysis of vehicle data and improve maintenance efficiency. Remote technical support allows experts to remotely assist maintenance personnel to solve problems and provide customers with more professional services. In the future, the threshold for car repair and maintenance will be raised.
The development of the second-hand car market driven by policies
In order to promote automobile consumption and circular economy, the state has introduced a series of policy measures to encourage the healthy development of the second-hand car market. Driven by the policy, the second-hand car transaction volume has shown a steady growth trend.
* A series of incentive policies have been introduced, such as canceling the second-hand car restriction policy and simplifying the second-hand car transaction process, which has created a good policy environment for the development of the second-hand car market. In addition, it has also strengthened the supervision of the second-hand car market, standardized the market order, and protected the rights and interests of consumers. Driven by policies, the boom in the second-hand car market has not only stimulated the vitality of the automotive aftermarket, but also provided consumers with more choices. Consumers can buy more affordable vehicles through the second-hand car trading platform or the offline second-hand car market to meet different travel needs.
However, at the same time as the rapid growth of the second-hand car market, new energy vehicles bring a new problem in the second-hand car industry, that is, the product update iteration is too fast, and the difference between the old and new cars is too large, for example, a new energy vehicle with a price of more than 300,000 yuan in 2 years is the same as the new car of 200,000 this year in terms of vehicle configuration, and the risk of inversion has appeared in the new energy second-hand car market.
The capital battle in the car maintenance market continues
2023 witnessed the successful listing of Tuhu Motors in the A** market, which marks a new stage of development for China's automotive aftermarket, and the listing of Tuhu Motors further accelerates the integration and optimization of the automotive aftermarket. In addition, in 2023, ByteDance will officially launch its own car maintenance brand in the automotive aftermarket, so far, China's car maintenance market has covered Alibaba, JD.com, Didi and other Internet manufacturers, plus the traditional car maintenance chain, the future competition will be more intense.
Looking back at China's automotive aftermarket in 2023, we see a dynamic and transformative industry. With the advancement of technology and the strengthening of policy support, we have reason to believe that the automotive aftermarket will continue to maintain an innovative and development trend. In the future, we will continue to pay attention to industry trends, explore new opportunities and challenges, and jointly promote the prosperity and development of China's automotive aftermarket.