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EXECUTIVE SUMMARYIpsos Business ConsultingRISING CAR AGE BRINGS STEADILY GROWING AFTERMARKET VALUE IN CHINA As a consequence of new car sales con nuing to slow, the average age of passenger vehicles in China is projected to hit 5.5 years by2023, compared with 4.6 years in 2018 China automotive aftermarket is expected to grow steadily at 8% p.a. in next 5 years, reaching 1.93 trillion CNY in 2023 The propor on of repair & accident parts in the aftermarket is expected to grow gradually, owing to rising average car ageDIVERSIFIED, DIGITALISED, STANDARDISED MARKET STRUCTURE A diversified, digitalised and standardised a ermarket is being formed, owing to top-down government interven on and growing needs from endconsumers From an end-channel perspec ve, IAM (independent a ermarket) will overtake 4S stores within the next 5 years, with branded workshops / O2Oservice being a significant growth driver ( 35% CAGR from 2018-2023) High-level digitalisation and standardisation in a ermarket are on the way, with poten al to further op mise distribu on efficiency and enhanceservice quality O2O pla orms are being widely adopted by consumers, especially for consumable/ wearable parts B2B2C is an emerging business model, with the involvement of internet giants2consul ng.bc@ipsos.comSource: Ipsos Business Consul ng analysisBuild · Compete · Grow


Ipsos Business ConsultingAFTERMARKET OVERVIEWChina’s new car sales are expected to further slow; with average car age rising,the after-sales auto business is transi oning into a major revenue sourcePV (passenger vehicle) sales volume (2018-23F)PV popula on and car age distribu on (2018-23F)Unit: million vehiclesUnit: billion vehiclesCAGR 6%23.6Average carageCAGR -1%4.4SedanSUVMPV46.10.1110.110.547%30%18% 5% ng.bc@ipsos.com0.199.711.6Source: Yiche; CAAM; CPCA; Ipsos Business Consul ng analysisNote: Due to rounding, percentages may not always appear to add up to 100%5.50.2622.619.811.74.6201549%26%20%6%201835% 3 years26%4-6 years30%7-10 years9% 10 years2023FBuild · Compete · Grow

Ipsos Business ConsultingAFTERMARKET OVERVIEWChina’s after-sales market will grow steadily, with the repair and maintenancesegment reaching CNY 1 trillion by 2023; contribu on of repair & accident partsis expected to grow gradually owing to rising average car ageParts repair & maintenance market value breakdownby parts type, 2018Market value of China’s automo ve aftermarket (PV, 2018-23F)Unit: CNY trillion100% CNY 0.77 trillionOther a ermarket servicesParts repair &(e.g. 2nd-hand car, insurance & loan, maintenance servicesba ery recycling, car beau fica on)20180.520.772019FConsumable parts (e.g. lube and filter)Wearable parts (e.g. tire and storage ba ery)Repair parts (e.g. engine and generator components)1.29Accident parts (e.g. lights, door and bumper 93consul ng.bc@ipsos.com116%1.93Source: Tuhu X Tencent a ermarket whitepaper; Mob Research Ins tute; Ipsos Business Consul ng analysis34%Build · Compete · Grow

Ipsos Business ConsultingKEY TRENDS INTERPRETATIONA diversified, digitalised and standardised aftermarket is being formed, owing totop-down government interven on and growing needs from end consumersIAM to grab market share from OESPV parts repair & maintenance market value split by channelUnit: CNY trillion vehicles “Maintenance Management Regula on” wasimplemented in 2016 to en tle car owners takingmaintenance/ repair service freely in IAM within thewarranty period IAM business will grow along with rising average carage, given that lower prices drive consumerpreference for IAM when out of warranty6consul ng.bc@ipsos.comSource: Ipsos Business Consul ng analysis0.771.03CAGR43%23%17%35%3%4S store50%Branded workshop/ O2O5%Independent workshop45%40%20182023FBuild · Compete · Grow

KEY TRENDS INTERPRETATIONIpsos Business ConsultingA diversified, digitalised and standardised aftermarket is being formed, owing totop-down government interven on and growing needs from end consumersB2B & B2C e-commerce lead to digitalised andmore efficient IAMIncreasing transparency will improve marketstandardisa on In addi on to aftermarket specialists (Tuhu, Carzone),internet giants (e.g. Alibaba, JD) are also stepping into theauto aftermarket All the 4S stores/ workshops have been required to uploadtheir service records to a nationwide database since 2017,in an effort to reduce over-maintenance/ fraud (thisini a ve is s ll in a nascent stage) Workshops show strong demand for be er procurement/logis c services to survive Those born from 1980-1999 account for 50% of all a ermarket customers, and have a high preference for O2O*7consul All parts manufacturers have been required to print ‘productcodes’ on spare parts since 2015, enabling accountabilitytracing after accidents, and weakening the competitivenessof counterfeit partsNote: *O2O model refers to ‘placing orders online and taking repair/maintenance service in an appointed offline store’Source: Ipsos Business Consul ng analysisBuild · Compete · Grow

KEY TRENDS INTERPRETATIONIpsos Business ConsultingParts suppliers should increase investment in IAM, and cooperate with / leveragediversified channel players to seize growth opportunitiesIAM IAM channels should be a strategic priority, and deserve more effort and investment from autosuppliers to seize opportunities and fulfill evolving consumer demandsRegula ons Regulation-enabled market standardisa onis s ll on the way. More interven on from governmentis expected to further protect consumer interests and create a fairer market environment for OE/will-fit parts suppliersB2B/B2C/O2O E-commerce The penetra on of B2B/B2C e-commerce platforms will accelerate Coopera on with B2B e-commerce platforms are a must-have,but such efforts should be prudentin order to avoid harming exis ng distributors’ interests Partnership with key B2C e-commerce/O2O players is impera ve to capitaliseon the trend8consul ng.bc@ipsos.comSource: Ipsos Business Consul ng analysisBuild · Compete · Grow AUTOMOTIVE AFTERMARKET OVERVIEWDIVERSIFIED DISTRIBUTION CHANNELS AND DISRUPTIVE PLAYERSIMPLICATIONS FOR AUTO PARTS SUPPLIERS IN IAM (INDEPENDENT AFTERMARKET)ABOUT IPSOS BUSINESS CONSULTINGBuild · Compete · Grow

Ipsos Business ConsultingROUTE TO MARKET STRUCTUREHigh-level aftermarket digitalisa on and standardisa on are on the way, withpoten al to further op mise distribu on efficiency and enhance service qualityEmerging flowRoute-to-market structure of automo ve partsRising a ermarket channelsAutomotive parts manufacturer1st er distributorFor nationalKA* onlyWholesaler/ ResellerIn-houseWS** offleetFor national KA only(mainly branded WSand O2O platform)1B2B e-commerce platform3B2C e-commerce 2(pure retail model)OEMBranded WS(tradi onal offline model)4WorkshopO2O app self-owned/franchised/ authorised WSIndependent WS4S storeConsumer10consul ng.bc@ipsos.comNote: *KA refers to key account with high purchasing volume**WS refers to workshopSource: Ipsos Business Consul ng analysisBuild · Compete · Grow

Ipsos Business ConsultingSUMMARY OF RISING CHANNELSBoth B2B and B2C players are reshaping IAM dynamics, as they improve marketefficiency and customer experienceProduct/Service OfferingKey AdvantageB2B E-COMMERCEOperate platforms that purchasefrom parts manufacturer/distributor and sell to workshops Price transparency in B2B market Larger geographical coverage, with faster delivery thantradi onal distributors/wholesalers Customer analy cs driven by Big DataBRANDED WORKSHOP(TRADITIONALOFFLINE MODEL)Offer offline repair/maintenanceservice to consumers More standardised repair & maintenance service comparedwith tradi onal independent workshopsSell parts to consumers onlinewithout offline service Price transparency in B2C marketSell parts to consumers online andappoint specific workshops (selfowned or franchised or authorised)to offer offline service Price transparency in B2C market More standardised repair & maintenance service comparedwith tradi onal independent workshopsB2C E-COMMERCE(RETAILER)O2O PLATFORM11consul ng.bc@ipsos.comSource: Ipsos Business Consul ng analysisBuild · Compete · Grow

Ipsos Business ConsultingB2B E-COMMERCEB2B e-commerce has built a strong market presence in recent years; Carzone andAutozi are key representa ves for asset-heavy and -light strategies respec velyIntroduc on of key types of B2B e-commerceBUSINESS MODELResellerMainly generates profit byprice mark-up on top ofpurchased priceMarketplaceMainly chargescommission, supply chainfinance, logistic servicefees on parts supplierswho operate a store onthe platform12consul ng.bc@ipsos.comTOP PLAYERS & GMV* IN 2018 (UNIT: CNY BILLIONS)Carzone0.9Tuhu0.8AutoziBaturuCass Started from consumable/ wearableparts to quickly build customer base Gradually raised the share of repair/accident parts for higher profit ang1.8CATEGORY FOCUS Wide coverage of both consumable/wearable parts and repair/ accidentparts due to asset-light strategy Less control on product qualitycompared with reseller modelNote: *GMV (gross merchandise value). The business model classification is based on the source of majority GMV of eachplayer. Some players utilise both reseller and marketplace modelsSource: Official website of B2B e-commerce pla orms; Ipsos Business Consul ng analysisBuild · Compete · Grow

B2B E-COMMERCEIpsos Business ConsultingB2B platforms can be a partner to reach more workshops, but the benefits oftradi onal distributors should be protected to avoid cannibalisa onStrengths compared with tradi onal distribu onmodelsOp mise parts distribu on efficiency throughadvanced database and intelligent enquiry/ order dispatchingsystemsCooperate with B2B pla orms to enlargesales coverage but at a prudent pace.Most brands hold a conserva ve a tudeon this prac ce, in case tradi onaldistributors interests are impactedOffer value-added services (e.g. big data analy cs, fasterEnsure an appropriate hierarchy pricingstructure in case distributor loses controlpower to B2B platforms, especiallyplatforms with reseller modelsEnlarge geography and category coverage of partsRetain accessibility of customer (i.e.workshop) data when coopera ng withB2B platforms, in prepara on for longterm growth strategydelivery, micro credit, technical and sales training) toworkshopsdistribution, combining own warehousing & shipping capacitywith third-party logis cs services13How should auto parts manufacturers leverage?consul ng.bc@ipsos.comSource: Ipsos Business Consul ng analysisBuild · Compete · Grow

BRANDED WORKSHOPS (TRADITIONAL OFFLINE MODEL)Ipsos Business ConsultingIndependent branded workshops excel in traffic genera on while parts suppliers/OEM sub-brands provide superior technical capabilitySnapshot of different types of branded workshops using a tradi onal offline modelWORKSHOP TYPEIndependentbrandedREPRESENTATIVES 800*OUR VIEWHigh traffic volume but limited to consumable/wearable parts955230 200647* Number of outlets of self-owned &franchised stores Usually leverages own app with O2O services to bring online traffic tooffline, then generate profit on offline orders from repeat customers Hard to offer core services due to technical limita onsRelatively new model with a questionable future outlookOEM sub-brandSub-brand of partssuppliersSub-brand of dealergroups14consul ng.bc@ipsos.comInvested by 1,900 SAICMOTOR Investedby SAICGM 529300 108 1,500 7S ll in exploratory stagesIndependent procurement for spare partsU lises O2O service modelLeverages OEM reputa on and technical capability to win in IAMStronger technical capability and wider category coverages;weaker in traffic generation due to lack of ‘internet genes’ Bosch Car Service is expanding service coverage from quick service tocore parts (e.g. engine repair, brake inspec on) Dealer group sub-brand WS can leverage their own technical capabilityto offer the same level of repair service at a lower price than 4S storesSource: Official website of branded workshops; Ipsos Business Consul ng analysisBuild · Compete · Grow

Ipsos Business ConsultingO2O PLATFORM & B2C E-COMMERCE (RETAILER)Various O2O platforms and B2C e-commerce services have developed nichebusiness models for their offeringsB2C PLAYER TYPEO2O platformREPRESENTATIVESPROVIDER OF OFFLINEREPAIR/MAINTENANCE SERVICEREVENUE MODEL (FOR ONLINE ORDERSONLY)Generates profit by price mark-up andrepair/maintenance service chargeswith self-ownedworkshopSelf-owned store*O2O platformWorkshop franchised**/ authorised*** O2O pla orm generates profit by price mark-upby O2O pla orm but owned/ operatedfor self-owned products and charges commissionby third party (e.g. 天猫 站 authorised & ads fee for supplier-owned products Repair/ maintenance service charges belong toby Tmall, Tuhu’s franchised andworkshopauthorised workshop)cooperating withfranchised orauthorised workshoppure retailer modelwithout offline serviceNo appointed workshops Generates profit by price mark-up for selfowned products Charges commission and ads fee for supplierowned productsDoor-to-doorservice providerStaff from B2C pla orms offer D2DserviceCharges D2D service feeB2C e-commerce15Note: *Self-owned stores are 100% owned and operated by Tuhu with Tuhu’s store sign**Franchisedworkshops are supervised by Tuhu, using Tuhu’s procurement & service system, but owned and operated by franchiseesconsul***Authorised workshops are owned and operated by 3rd party without Tuhu store sign. They are cer fied by Tuhu to serve users placing online orders on Tuhu AppBuild · Compete · Grow

Ipsos Business ConsultingO2O PLATFORM & B2C E-COMMERCE (RETAILER)O2O platforms coopera ng with franchised/authorised workshops are expected toincrease market presence due to scalability and convenient user experienceB2C PLAYER TYPESCALABILITY ON GEOGRAPHICCOVERAGEUSER EXPERIENCEQUALITY CONTROL ON PRODUCT/SERVICEO2O platformConsistent experience fromonline order placement tooffline repair/maintenanceHigh CapEx requirementsrestrict expansion speedOffers the best assurance on product andservice quality through its self-ownedmodelO2O platformConsistent experience fromonline order placement tooffline repair/maintenanceCan quickly expand a er audi ngworkshop qualifica ons Strict workshop audi ng mechanism to ensureservice quality Centralised procurement from manufacturer/distributor to control product qualityConsumers have to find offlinepure retailer modelworkshops by themselveswithout offline serviceOnly need to address warehousing andlogis cs for geographic expansionNo control on offline service at allDoor-to-doorservice providerHard to expand coverage due toshortage of labourReliant on sub-contractor in serviceofferingwith self-ownedworkshopcooperating withfranchised orauthorised workshopB2C e-commerce16Rather limited to simpleservices such as car washingconsul ng.bc@ipsos.comSource: Ipsos Business Consul ng analysisGreat performancePoor performanceBuild · Compete · Grow

FUTURE TRENDS OF AUTOMOTIVE E-COMMERCEIpsos Business ConsultingBoth B2B and B2C leading players are adop ng an asset-light strategy forexpansion and transforma on; B2B2C is evolving as a winning ecosystem withcomprehensive service for workshops1Asset-Light StrategyDue to limita ons on cash flow, human resources, andover-supply of workshop number in the aftermarket, selfoperating models (e.g. self-owned workshops of B2Cplatforms, reseller model of B2B platforms) face challenges2B2B2C EcosystemWith internet giants such as Alibaba and JD entering the aftermarket,a B2B2C one-stop business model that connects parts suppliers,workshops and consumers is emergingAlibaba’s ecosystem as illustration AutoZi transformed from reseller to marketplace modelin 2018 Carzone has not turned a profit with its reseller modelfor 10 years Tuhu is unlikely to meet its vision of opening 2,000 selfowned and franchised stores by 2020 (it had only 800by the end of 2018)17consul ng.bc@ipsos.comSource: Ipsos Business Consul ng analysisParts supply via B2BParts manufacturer/ distributorOffer cer fica on/ endorsementto third-party workshopBring online traffic tooffline via B2CConsumerWorkshopBuild · Compete · Grow AUTOMOTIVE AFTERMARKET OVERVIEWDIVERSIFIED DISTRIBUTION CHANNELS AND DISRUPTIVE PLAYERSIMPLICATIONS FOR AUTO PARTS SUPPLIERS IN IAM (INDEPENDENT AFTERMARKET)ABOUT IPSOS BUSINESS CONSULTINGBuild · Compete · Grow

Ipsos Business ConsultingNext steps for auto parts suppliers in China’s after-sales marketplace Review current value proposi ons and prepare for emerging opportuni es brought byObjec vesnew trends (diversifica on, digitalisa on and standardisa on)and Challenges Iden fy the variety of challenges in the new era19consul ng.bc@ipsos.comChannels Diagnose current route-to-market structure and evaluate the necessity of a revamp tocatch up with market trends Ac vely cooperate with new channel partners (e.g. B2B and B2C e-commerce, O2Opla orms, branded workshops)Products &Services Iden fy the core needs of emerging end-channel/ consumers and tailor the offering bycustomer segment Explore the possibility of offering value-added service and bundle-sales Empower tradi onal channel partners to enhance their service quality and capabilitySource: Ipsos Business ConsultingBuild · Compete · Grow AUTOMOTIVE AFTERMARKET OVERVIEWDIVERSIFIED DISTRIBUTION CHANNELS AND DISRUPTIVE PLAYERSIMPLICATIONS FOR AUTO PARTS SUPPLIERS IN IAM (INDEPENDENT AFTERMARKET)ABOUT IPSOS BUSINESS CONSULTINGBuild · Compete · Grow

AUTHORSWijaya NgHead of Consul ng,Greater China21Kate GaoAssociate Consulting Director,ShanghaiNeil SunSenior 86 21 2231 9598 86 21 2231 9627 86 21 2231 9644Build · Compete · Grow

OUR GLOBAL AUTOMOTIVE AFTERMARKET TEAMGREATER CHINAWijaya NgHead of Consul ng – ShanghaiE. china.bc@ipsos.comT. 86 (21) 2231 9988SSAOscar YuanPresident – USAE. us.bc@ipsos.comT. 1 (212) 265 3200Santosh KurianHead of Consul ng - SubSaharan AfricaE. africa.bc@ipsos.comT. 27 (11) 709 7800UNITED ARAB EMIRATESINDIAEUROPEBhasker CanagaradjouHead of Consul ng – MumbaiE. india.bc@ipsos.comT. 91 (22) 6620 8000Colin KinghornChief Opera ons OfficerE. europe.bc@ipsos.comT. 44 (20) 3059 5000JAPANTHAILANDMasatoshi ShiodaHead of Consul ng – JapanE. japan.bc@ipsos.comT. 81 (3) 6867 800122NORTH AMERICAKarthik RamamurthyHead of Consul ng – UAEE. uae.bc@ipsos.comT. 971 (4) 4408 980Chukiat WongtaveeratHead of Consul ng – Thailand,Laos, and MyanmarE. thailand.bc@ipsos.comT. 66 (2) 088 0100INDONESIAJosua SiahaanCountry HeadE. indonesia.bc@ipsos.comT. 62 (21) 527 7701MALAYSIA PHILIPPINESStay Connectedconsul ng.bc@ipsos.comwww.ipsosconsul ng.comKiranjit SinghHead of Consul ng – MalaysiaE. malaysia.bc@ipsos.comT. 6 (03) 2289 3000LinkedIn: Ipsos Business Consul ngSINGAPOREWeChat: ipsos bcPer-henrik KarlssonHead of Consul ng – SingaporeE. singapore.bc@ipsos.comT. 65 6333 1511Twi er: IpsosBCSOUTH KOREAJennifer HaHead of Consul ng – KoreaE. korea.bc@ipsos.comT. 82 (2) 6464 5100Build · Compete · Grow

Local knowledge with a global reachIpsos Business Consul ng HubsIpsos OfficesLondonParisBeijingNew YorkDubaiNew DelhiMumbaiLagosNairobiWuhanBangkokKuala LumpurSeoulShanghaiHong KongManilaTokyoHo Chi Minh CitySingaporeJakartaJohannesburg23consul ng.bc@ipsos.comBuild · Compete · Grow

About Ipsos Business Consul ngBuild · Compete · GrowWe are a purpose-driven consultancy that believes knowledge empowersyour organisa on and enables you to create opportuni es and generategrowth in your chosen markets. We provide you with this knowledgethrough a structured set of sales and marke ng strategy solu ons that drawupon on our network of market specialists and consultants who haveunparalleled on-the-ground knowledge and extensive experience in keyestablished, emerging and fron er markets around the world.At Ipsos Business Consul ng, we focus on maintaining our posi on as a leadingprovider of high-quality consul ng solu ons for sales and marke ng professionals. Wedeliver informa on, analysis and recommenda ons that allow our clients to makesmarter decisions and to develop and implement winning market strategies.Here at Ipsos Business Consul ng we are united and driven by our mantra“Build Compete Grow” — three words that encapsulate who we are andwhat we do.Through specialisa on, we offer our clients a unique depth of knowledge andexper se. Learning from different experiences gives us perspec ve and inspires us toboldly call things into ques on, to be crea ve. BuildEstablish firm founda ons for new lines of business that matchclient resources to the strongest opportunity within their chosen market. Compete Devise winning business models that will outperform thecompe on. GrowImprove top-line growth for developed and emerging markets.By nurturing a culture of collabora on and curiosity, we a ract the highest calibre ofpeople who have the ability and desire to influence and shape the future.Established in 1994, Ipsos Business Consul ng is part of Ipsos, founded inFrance in 1975, and s ll managed and controlled by research and consul ngprofessionals. They have built a solid Group around a mul -specialistposi oning. Ipsos is listed on Eurolist – NYSE Euronext. The company is partof the SBF 120 and the Mid-60 index and is eligible for the DeferredSe lement Service (SRD). ISN code FR0000073298, Reuters ISOS.PS,Bloomberg PIS:F24consul ng.bc@ipsos.comWe believe that our work is important. Security, simplicity, speed and substance applyto everything we do.Our Solu ons:· Go-to-Market· Business Unit Strategy· Compe tive Intelligence· Partner Evalua on· Innova on Scou ng· Op mal Channel Strategy· IPO Consul ng· Market Sizing· Pricing· Forecas ng· Brand Strategy & Value· Sales Detector· B2B Customer Segmenta onBuild · Compete · Grow

CONTACT USGREATER CHINAFRANCEJAPANNIGERIASOUTH KOREAUKBEIJING12th Floor, Union PlazaNo. 20 Chao Wai AvenueChaoyang District, 100020Beijing, ChinaE. china.bc@ipsos.comT. 86 (10) 5219 8899PARIS35, rue du Val de Marne75013 ParisE. europe.bc@ipsos.comT. 91 (22) 6620 8000Hulic Kamiyacho Building4-3-13, ToranomonMinato-ku, 105-0001Tokyo, JapanE. japan.bc@ipsos.comT. 81 (3) 6867 8001Block A, Obi VillageOpposite Forte OilMM2 Airport Road, IkejaLagos, NigeriaE. africa.bc@ipsos.comT. 234 (806) 629 980512th Floor, Korea EconomicDaily Building, 463 Cheongpa-RoJung-Gu 100-791Seoul, South KoreaE. korea.bc@ipsos.comT. 82 (2) 6464 51003 Thomas More SquareLondon E1 1YWUnited KingdomE. europe.bc@ipsos.comT. 44 (20) 3059 5000KENYAPHILIPPINESTHAILANDAcorn House97 James Gichuru Road LavingtonP.O. Box 6823000200 City SquareNairobi, KenyaE. africa.bc@ipsos.comT. 254 (20) 386 2721-331401-B, One Corporate CentreJulia Vargas cor. Meralco AveOrtigas Center, Pasig City, 1605Metro Manila, PhilippinesE. philippines.bc@ipsos.comT. 63 (2) 633 399719th Floor Empire Tower, 1South Sathorn Road YannawaSathorn Bangkok, 10120ThailandE. thailand.bc@ipsos.comT. 66 (2) 088 0100SINGAPOREUAE3 Killiney Road #05-01Winsland House I, S239519SingaporeE. singapore.bc@ipsos.comT. 65 6333 15114th Floor, Office No 403Al Thuraya Tower 1P.O. Box 500611Dubai Media City, UAEE. uae.bc@ipsos.comT. 971 (4) 4408 980SHANGHAI31/F Westgate Mall1038 West Nanjing Road 200041Shanghai, ChinaE. china.bc@ipsos.comT. 86 (21) 2231 9988WUHAN10F HongKong & Macao Center118JiangHan RoadHanKou Wuhan, 430014Wuhan, ChinaE. china.bc@ipsos.comT. 86 (27) 5988 5888HONG KONG22/F Leighton CentreNo 77 Leighton RoadCauseway BayHong KongE. hongkong.bc@ipsos.comT. 852 3766 2288INDIAMUMBAILotus Corporate Park1701, 17th Floor, F WingOff Western Express HighwayGoregoan (E),Mumbai – 400063, IndiaE. india.bc@ipsos.comT. 91 (22) 6620 8000GURGAON801, 8th Floor, Vipul SquareB-Block, Sushant Lok, Part-1Gurgaon – 122016, HaryanaE. india.bc@ipsos.comT. 91 (12) 4469 2400INDONESIA6th Fl. Mega Plaza,H.R. Rasuna Said, Jakarta 12920,IndonesiaE. indonesia.bc@ipsos.comT. 62 (21) 5296 4388MALAYSIA23rd Floor, Centrepoint North,MidValley City,Lingkaran Syed Putra,59200 Kuala LumpurE. malaysia.bc@ipsos.comT. 6 (03) 2289 3000SOUTH AFRICAWrigley Field The Campus57 Sloane Street BryanstonJohannesburg, South AfricaE. africa.bc@ipsos.comT. 27 (11) 709 7800USACHICAGO222 South Riverside Plaza, 4th FloorChicago, IL 60606E. us.bc@ipsos.comT. 1 (312) 526 4000NEWYORK360 Park Avenue South17th FloorNew York, NY 10010E. us.bc@ipsos.comT. 1 (212) 265 3200VIETNAMLevel 9A, Nam A Bank Tower201-203 CMT8 Street, Ward 4District 3HCMC, VietnamE. vietnam.bc@ipsos.comT. 84 (8) 3832 9820The informa on contained herein is of a general nature and is not intended to address the circumstances of any par cular individual or en ty. Although we endeavour to provide accurate and mely informa on, there can be noguarantee that such informa on is accurate as of the date it is received or that it will con nue to be accurate in the future. No one should act upon such informa on without appropriate professional advice after a thorough examina onof the par cular situa on. 2019 Ipsos. All rights reserved. Contains Ipsos’ Confiden al and Proprietary informa on and may not be disclosed or reproduced without the prior wri en consent of Ipsos.

In addi on to aftermarket specialists (Tuhu, Carzone), internet giants (e.g. Alibaba, JD) are also stepping into the auto aftermarket Workshops show strong demand for be er procurement/ logis c services to survive Those born from 1980-1999 account for 50% of all a er-market customers, and have a high preference for O2O*

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