1. In the first quarter of 2024, the output value of the aftermarket increased by 1% year-on-year, and the number of units entering the factory increased by 2% year-on-year. The growth rate was slightly weak.
2. In the first quarter, the number of repair and tire business increased by 5% and 3% respectively year-on-year. The spraying and maintenance were basically close to the levels of the same period last year, while the demand for flexible consumption such as beauty and boutique products was still declining.
3. In the first quarter, the unit price of body spray and beauty business increased by 2% and 4% respectively year-on-year, while the unit price of other businesses fell by 2% year-on-year.
4. In the first quarter, sales of shock absorbers and batteries increased by 4% and 1% respectively year-on-year. Passenger car tires were the same as the same period last year, while automatic transmission oil dropped by more than 10% year-on-year.
5. In the first quarter, in addition to a slight increase of 4% in shock absorbers in third-tier cities, the sales of many categories such as engine oil, passenger car tires, and brake pads declined year-on-year. The overall performance was slightly worse than that of other city levels.
6. Domestic brands will continue to exert their efforts in 2024. The sales volume of domestic engine oil will increase by 2 percentage points compared with the same period last year, and the sales volume of domestic passenger car tires will increase by 3 percentage points.
7. In the first quarter, among the major car brands, BYD (002594) sales increased by 18% year-on-year, followed by Changan and Chery, with year-on-year growth rates of more than 5%, while Kia fell by 7% year-on-year.
8. In the first quarter, the number of traditional vehicles entering the factory was the same as the same period last year, while the number of new energy vehicles increased year-on-year, with extended-range electric vehicles leading the way with a year-on-year growth rate of 181%.
9. In the first quarter, among the major new energy brands, AITO's number of units entering the factory increased significantly year-on-year, reaching 3.3 times, followed by GAC Aion, Lideal, and Leapmoon, with year-on-year increases of more than 1 times.
10. Compared with the same period last year, in the first quarter of 2024, the proportion of repair and tire business visits to the factory increased by 0.9% and 0.3% respectively, while the demand for beauty and boutique businesses both declined, and the general trend of "rational" consumption has not changed.
11. In January 2024, the aftermarket output value continued the growth trend in December 2023. However, it fell sharply in February due to the Spring Festival. It rebounded in March, but was only the same as the same period last year. It is predicted that future output value will grow "moderately"
