China’s car parc is second only to the USA in size and it is only a matter of time before China is the largest aftermarket in the world. With growth in the repair business exceeding 16% annually, China offers opportunities for aftermarket companies at all levels of the value chain. But the current market is highly fragmented and inefficient and in need of consolidation. This session will characterize China’s light vehicle aftermarket in terms of size, vehicle make-up, distribution and growth trends. It will compare China’s development to that of the U.S. to look for clues as to how China’s market will evolve and consolidate. Areas of opportunity and challenge will be highlighted as well as some principles of success.
Attendees will learn:
- A basic understanding of the nature and scope of China’s aftermarket
- A comparison of China and the U.S. in terms of market development
- Outlook for China’s aftermarket evolution
- Resultant opportunities for Western firms
- Some key success factors of a winning strategy