Global Auto Sales Have Increased Greatly, And Auto Repair And Auto Maintenance Tools Are So Popular!

Global auto sales have increased greatly, and auto repair and auto maintenance tools are so popular!

At the beginning of the year, affected by the epidemic, the North American International Auto Show was cancelled. Shanghai Auto Show opened as scheduled, becoming the first class a auto show in the world in 2021. As one of the largest exhibitions in China, it has attracted much attention. The covid-19 is still a new crown disease that is still raging. On the one hand, it is a hot domestic car market. From the first quarter sales report of the global automobile market, we can see that the major auto market in the world has largely recovered from the impact of COVID-19, which reveals the business opportunities of vehicle repair and maintenance tools. So in the face of the current developing automobile market, which national and regional markets are worth cultivating for Chinese suppliers?

Global auto sales have increased greatly, and auto repair and auto maintenance tools are so popular!

Who is recovering strongly in the international market

Let's take a look at the global auto sales data. According to the data released by the German automobile industry association (VDA), the global major auto markets showed a growth trend to a large extent in the first quarter of 2021: the sales of new cars in China increased by 76% over the first quarter of 2020; India's auto market increased by 1 / 3; The US market grew by 11%; The Japanese auto market increased by 4%; Sales in the European auto market were basically the same as last year, with sales increasing by 1%.

China is the first major economy to recover from COVID-19 and the most powerful economy to date. In the first quarter of 2021, the sales of new cars in China surged by 76%, an increase of 2 million vehicles over the first quarter of 2020, and exceeded the sales of 5 million vehicles again, making China once again the largest single national automobile market in the world.

According to the data of China Automobile Industry Association, from January to March 2021, the import and export amount of China's automobile commodities increased rapidly. Among them, the import amount of automobile commodities was US $22.74 billion, a year-on-year increase of 35%; The export value of automobile commodities was US $24.1 billion, a year-on-year increase of 53.1%. The top ten automobile export enterprises are SAIC, Chery, Chang'an, great wall, Dongfeng, Geely, BAIC, Jiangqi, heavy truck and Daqing Volvo. The above-mentioned automobile enterprises exported a total of 326000 vehicles.

According to the data released by the Ministry of Commerce, the consumption scale of China's automobile aftermarket has exceeded trillion yuan, and the industry has entered the golden sales period. Check the demand of domestic tools this year. First, the number of imported brands has increased; Second, new tools show a blowout growth trend; Third, there is a strong demand for innovation of finishing tools in the whole store.

India became the only country whose sales exceeded that before the epidemic

According to the data of Indian Auto website autopunditz, the wholesale sales of passenger cars in India increased by 128.0% year-on-year to 320487 in March this year. This is not only the eighth consecutive month of growth in the Indian market, but also the highest single month growth in 20 years, but also the first three digit growth in the period.

Although, behind such a substantial increase is that the epidemic led to the national blockade of India on March 23 last year, which almost halved the sales of passenger cars at that time, giving a low comparison base this year. However, it is undeniable that 320000 vehicles are indeed another great achievement in the Indian passenger car market, because this is the second highest monthly performance in the history of the market, second only to 334000 vehicles in October 2020.

Throughout the first quarter, India's new car sales increased by 36.3%. India's strong recovery made the sales in the first quarter of 2021 higher than that in the first quarter of 2019, becoming the only country in the world whose sales exceeded that before the epidemic.

How can Chinese enterprises profit from the rapidly rising Indian auto market? First of all, we should understand the characteristics of the Indian market. Unlike China, which likes large SUV models, the Indian market is on the contrary, and small cars are popular. We all know that Suzuki withdrew from the domestic market a few years ago, but it is selling well in the Indian market, which is crowded and narrow and likes small cars. India's auto market has great potential. ACMA predicts that the local auto repair parts market (including spare parts and support systems) will continue to grow at a rate of 10.5% in the next two years. Domestic automobile enterprises can expand the Indian market.

European and American electric vehicle consumption intention increased

As Audi and Volkswagen announced to stop developing new fuel engines, car companies including GM, Ford and BMW Mini successively announced the electrification time. This decision is made because of the stricter environmental protection requirements and carbon emission tax and other restrictions implemented by the EU. The "Euro 7" emission standard will be implemented by the end of 2021. The existing models using gasoline and diesel engines will be gradually converted to electric models in the future.

According to the annual survey report of OC & C strategy consulting company, the company surveyed more than 7500 global consumers from December 2020 to January this year, of which the proportion of consumers interested in buying pure electric vehicles increased significantly. In Britain, France and Italy, more than half of consumers said they would consider buying pure electric vehicles, and nearly half of respondents in Germany and the United States also said they would consider buying pure electric vehicles, a significant increase over last year. In Britain and the United States, consumers' willingness to buy pure electric vehicles increased by 81% and 61% respectively.

The report shows that consumers are still cautious about the price of pure electric vehicles. Compared with last year, although people have less concerns about the range and charging infrastructure of electric vehicles, the total cost is the biggest obstacle for consumers to consider buying pure electric vehicles.

At present, European countries have introduced some incentive measures. Under the dual pressure of global environmental problems and energy consumption, the wave of automobile electrification is irreversible. On the supply side, China is undoubtedly a very important part. Are you ready for auto parts and auto maintenance tool enterprises to seize the new energy vehicle market?

The used car market in the United States continues to be hot

From the development law of the automobile market, it generally shows that the more mature the automobile market, the higher the automobile development stage and the higher the economic development level, the more active the second-hand car transaction is. With the strong recovery of the U.S. economy, there is also the popularity of the U.S. used car market. Affected by the shortage of supply and the blowout of demand, the price of used cars in the United States has soared. The Manheim U.S. used car price index, which measures the price trend, soared again to a record high. In the past 12 months, the price of used cars has increased by nearly 10%, the largest increase in more than 10 years.

In developed countries, car owners basically change a car every 3-5 years. Such a high frequency of car change has promoted the prosperity of the used car market. At the same time, the improved consumer confidence, the recovery of the job market, the stimulated cash of the U.S. epidemic relief, the peak tax rebate season and the large amount of savings accumulated during the epidemic have greatly stimulated the demand of the U.S. used car market.

Under the stock market, the overall value center of the automobile industry chain will gradually transfer to the rear market and vehicle service. The automotive aftermarket, with diversified services such as maintenance, automotive beauty and automotive supplies as the core, will become the main source of profit for the automotive industry.