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The number of cars on China's roads has reached 120 million, with more than 10 million new vehicles added each year. This rapid growth has created a highly promising outlook for the automotive aftermarket industry in China. According to the latest "Blue Book" on China's automotive aftermarket, the sector is expected to maintain double-digit growth for the next 10 to 15 years. By 2015, the market’s output value is projected to reach 700 billion yuan, making it the world's largest automotive after-sales market.
Since 2009, China has consistently ranked first globally in vehicle sales, with over 10 million units sold annually for three consecutive years. The current car ownership of 120 million vehicles, growing at an annual rate of 14%, is driving demand across various segments such as car repairs, spare parts, detailing, used car trading, and vehicle dismantling. These industries are set to experience significant expansion in the coming years.
The automotive aftermarket refers to all services and activities that occur after a vehicle is sold, including maintenance, insurance, repair, accessories, auto finance, car modifications, used car sales, and online car commerce. It encompasses seven major categories and plays a crucial role in the entire lifecycle of a vehicle.
According to the Blue Book, the Chinese automotive aftermarket has already shown strong growth momentum. In 2005, the market turnover was just 88 billion yuan, but by 2009, it had risen to 240 billion, and by 2012, it reached 500 billion yuan. This represents an average annual growth rate of 26.9%, outpacing the growth of automobile sales itself.
Some developed provinces have begun to recognize the importance of expanding chain-based auto service businesses, aiming to enhance efficiency and brand recognition. Policies have been introduced to support the development of these enterprises, encouraging them to adopt specialized and standardized operations.
However, the Blue Book also highlights challenges. As the market grows rapidly, there is a growing mismatch between the demand for skilled labor and the supply of qualified professionals. This talent gap, along with the fast-paced development of after-sales and sales markets, poses obstacles to the sustainable growth of the industry. Therefore, improving the quality and professionalism of the automotive aftermarket is essential to meet future demands and ensure long-term success.