Reexamine The Trend And Statistics Of Automobile After-Sales Market
After sales market has become an important part of the automobile economic sector. It is estimated that the revenue will reach 722 million US dollars in 2020, and the industry is rising. In addition, the emerging trend of the market, technological progress, raw material industry innovation and e-commerce have changed the pattern of the auto parts industry.
According to statistics, drivers spend more time driving vehicles. About 45% of the 10 year vehicles consume more than 1000 dollars annually, showing good maintenance activities. Therefore, preventive maintenance services and aftermarket accessories represent a growing edge. Consumers also ask suppliers to provide the right demand. Drivers usually look for products with better appearance, but the technology makes the supplier do not need a physical address. The market for custom wheels has changed, and once the online look is available, the market leader will soon change.
The following are some quick facts and trends about the automotive aftermarket industry.
Older vehicles are increasing
The automaker’s annual sales increased by 6%. This means that 17 million new cars and light trucks were sold last year. But this does not mean that the after-sales market industry is shrinking. The average age of the American team is 11 years. This represents a 17 per cent increase over the past 10 years. About 44 million vehicles are between 16 and 24 years old. Vehicle ownership time increased by 60% on average compared with 10 years ago.
In addition, this trend has accelerated significantly in the past few years, and there is no intention to stop it. It is estimated that in the next few years, the ownership of vehicles over 12 years old will increase by about 12%. Therefore, vehicles are currently the long-term assets of owners. This is the result of the improvement of vehicle quality, and also the mainstream of the recovery technology of aging riding facilities. With the decline of the waste rate, there is a huge market opportunity for profitable after-sales market business.
Market after the E-commerce Revolution
In order to comply with the trend of the global market, the after-sales service industry is listed. Parts, dealers and automotive services have been updated and converted through e-commerce. The top priority for these vendors is to optimize websites through new and fixed content.
The pattern of the automotive aftermarket has completely changed. The growing demand for parts and services has shifted to the digital world. At present, the service/seller is dominated by the maintenance station(only 25% of the car maintenance dealers complete it), but the larger segment of the industry is the wheel and tire website.
This is an example of how e-commerce transformation has a great impact on aftermarket transactions. The important marketing strategy of these businesses is SEO optimization. Four fifths of consumers use search engines before buying. More than half of the searchers only focus on the first link, so the top ranking is the main way to increase sales. SEO becomes part of the digital marketing strategy.
Setting goals is also a very important part of this process. Compared with new cars, they need more “service for me”(DIFM) repairs, and their owners will prefer physical stores. However, the old amusement facilities can be maintained and repaired directly(DIY). DIY owners pursue better transactions, convenience and delivery. As a result, strategies such as online shopping and special discounts and website optimization for glamorous content provide the best experience and improve continued brand loyalty.
When it comes to the influence of Internet tycoons and merchants, Amazon and eBay have remained intact. The after-sales market is particularly affected by them. In order to maximize the use of this situation, the wise strategy is to transfer the online platform to their field and use their marketing influence and distribution network.
Hybrids are rising
Automobile e-commerce is developing and automobile technology is changing. With the increase of hybrid electric vehicles and electric vehicles, the after-sales market products and services are expected to increase. The rise of this type of vehicle compared with traditional gasoline vehicles has forced the after-sales industry to develop new methods to meet their needs. From the new injection system to the new turbocharger, many projects are needed to strengthen these power units. In addition, these vehicles also require specific services such as cylinder stop. Providing these products will have a significant impact on the market.
The emerging digital automotive technology has brought challenges and opportunities to the aftermarket industry. Hybrid vehicles are more efficient vehicles with less exhaust emissions and better fuel. The possibility of obtaining motor and combustion preferences for old amusement facilities opens up huge potential for market penetration. Upgrading hybrid electric vehicles or traditional vehicles to hybrid electric vehicles will reduce the impact of ground vehicles on the environment and change the automotive aftermarket industry.
Nevertheless, the complexity of innovation will be another opportunity for the aftermarket industry to continue to demonstrate its ability to successfully adapt to change. In addition, the future of the industry depends on the ability to identify trends in advance. By innovating, adjusting, and taking full advantage of the opportunities provided, you will achieve continuous success.