New growth points in the automotive aftermarket in the direction of maintenance, auto insurance, and automotive finance

Automobile maintenance - multiple policies have been introduced

In the first half of this year, the field of automobile maintenance and maintenance was developing toward the direction of chain, brand, and information. The excess production capacity was further reduced, and the survival of the fittest accelerated. At the same time, two policies that have relatively influential influence on the industry have been introduced one after another, indicating the future development direction and market opportunities for the industry.

The first was the introduction of the "Automotive Sales Management Measures" on April 14th, which allowed the separation of sales and after-sales; followed by May 12, the Ministry of Communications issued the "Notice on Launching the Construction of Electronic Maintenance Records System for Automobile Maintenance" to further speed up the promotion of vehicle maintenance. The industry and the Internet are deeply integrated and innovatively developed, and the transformation and upgrading of the automobile maintenance industry are promoted to effectively protect the legitimate rights and interests of consumers.

In addition, in the first half of the year, local environmental protection agencies and the Bureau of Industry and Commerce investigated and dealt with maintenance companies that did not meet environmental protection requirements, removing inefficient and redundant production capacity from the automobile maintenance industry, and promoting the upgrading of the environmental protection level of the industry.

It can be predicted that in the second half of this year, China's auto repair industry will accelerate the survival of the fittest. Under the background of “return to rationality” of venture capital, enterprises cannot rely solely on gimmicks and subsidies to develop in the long term. They must combine their own advantages, identify their positioning, and do a good job of customer service.

Car Insurance - Secondary fee reform aggravates industry competition

In the first half of this year, the area of ​​auto insurance could be described as undercurrents. With the advent of secondary fee reform, industry competition has further intensified, and Internet giants have seized the auto insurance market and added fire.

After one year of fees and fees nationwide, the China Insurance Regulatory Commission (CRO) believes that the time has come to continue the deepening of the reforms in accordance with the previous arrangements. The second fee reform has been initiated and the independent channel coefficient has been lowered again. On June 9, the China Insurance Regulatory Commission issued the “Circular on Issues Concerning the Adjustment and Management of Commercial Vehicle Insurance Rate,” which indicated that it would further expand the independent pricing power of insurance companies, cut the lower limit of the floating coefficient of commercial auto insurance rates, and further reduce commercialization through marketization measures. The level of auto insurance rates, which marks the official start of implementation of the second fee reform.

From the policy-oriented perspective, in the second half of this year, all business entities can no longer obtain the market at low prices, but should further explore the difference in auto insurance and human services. Large-scale insurance companies rely on economies of scale to have a strong profitability. The difficulties in the operation of small and medium-sized insurance companies will intensify, which will lead to a further increase in the concentration of the auto insurance industry.

Automotive Finance - Value Restructuring extends throughout the life cycle

In the first half of the year, in the midst of an apparent decline in the growth rate of automobile production and sales, auto finance was a bustling scene. Not only was it buoyed by capital, investment events have frequently spurred many post-market companies to launch financial products based on their own businesses. Obviously, auto finance has become a profit growth point that can't be ignored in the aftermarket because of the continuing rising popularity.

In the eyes of the industry, the future of automotive finance is no longer a simple competition of basic businesses such as inventory financing and consumer credit. Focusing on the upstream and downstream of the automobile industry chain, the auto finance landscape will show a more diversified development pattern. As China's auto market continues to divide and the overall industrial chain undergoes the impact of the new business model of the Internet, the business model of auto finance has gradually undergone many changes. That is to say, the auto finance business entities that have followed the auto companies began to integrate data and sink into the market. Product diversification extends.