BETHESDA, Md., April 26, 2017 /PRNewswire-USNewswire/ -- The Auto Care Association has released the first in a series of three reports on emerging international markets with the China Market Report, a comprehensive assessment covering all major aspects of the developing China automotive aftermarket. In collaboration with Solidiance, the China Market Report presents dynamic opportunities for companies looking to expand.
While China's automotive industry has begun to slow in terms of new vehicle sales after over a decade of blistering growth, the parts and repair aftermarket continues to expand more significantly as a result of a larger and older automotive parc. The strong vehicle growth over the last 10 years has created an increasingly sizeable and diverse light passenger vehicle parc which has now reached approximately 139 million vehicles.
"Right now, China is well into its 'aftermarket era' and will continue to close the gap with the U.S. market," said Bill Hanvey, president and CEO, Auto Care Association. "To support this growth, the aftermarket structure and key players will also continue to change and explore new business models to more effectively compete. This China Market Report is just the tool for that."
Presented in an online format, the China Market Report includes the following:
- Insightful and concise snapshot of China's economy, investment environment, entry considerations and related issues.
- Detailed assessment of China's automotive parc in terms of size, vehicle composition, vehicle makes, age and future growth including detailed segmentations and new registration forecasts.
- Summary view of the total parts and service aftermarket, covering size, segmentation, parts types, age, growth and trends.
- Description of the maintenance and light repair service market, including services provided, repair frequency, and pricing. Current and forecasted 2020 value by vehicle and service type is also provided.
- Description of the collision repair market covering the insurance market, accident rates, service providers, repair types/costs, service value, etc. Current and forecasted 2020 value by vehicle type is also provided.
- Description of "general" major and minor repairs covering the engine and other major overhauls as well as minor "spot" repairs. Current and forecasted 2020 value by vehicle type is also provided.
- Evaluation of the parts distribution structure describing value chain at all levels (garage, distribution and parts suppliers), pricing characteristics, distributor types and future dynamics.
- Perspective on key opportunities and challenges facing players in China's automotive aftermarket over the forecast period with recommended key strategic issues to consider.
Auto Care Association members can purchase copies for $2,100. The non-member price is $3100. To order or for more information, visit www.autocare.org/market-intelligence/ or contact market intelligence at 301-654-6664.
About the Auto Care Association
Based in Bethesda, Md., the Auto Care Association has nearly 3,000 member companies that represent some 150,000 independent automotive businesses that manufacture, distribute and sell motor vehicle parts, accessories, tools, equipment, materials and supplies, and perform vehicle service and repair. Visit www.autocare.org.
Solidiance Asia Pacific is a business and growth strategy consultancy with more than 30 years of experience helping clients plan and execute Asia growth strategies. Solidiance assists companies in entering and expanding their business by providing critical market insight, an understanding of business potential and assistance in designing the optimum strategy for success including both organic and acquisition approaches. With 13 offices across 12 countries in Asia, Solidiance has a comprehensive footprint to help clients expand in the region. Please visit our website at http://www.solidiance.com
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SOURCE Auto Care Association