On January 26, at a press conference held by the State Council Information Office, Minister of Commerce Wang Wentao said that the Ministry of Commerce will designate 2024 as the "Year of Consumption Promotion" to promote consumption from post-epidemic recovery to continued expansion. The Ministry of Commerce will work with relevant departments and parties to organize various consumption promotion activities to create a consumption atmosphere and enhance the rebound momentum of the consumer market.
Wang Wentao said that promoting the replacement of old cars with new ones will be a focus of promoting consumption in 2024. my country's cars have entered the "era of equal emphasis on increases and stocks" from a pure "incremental era". In 2023, my country's car ownership will be about 340 million, updated There is great demand and potential for replacement. He pointed out that car trade-in is a systematic project that requires coordinated linkage and comprehensive policies among production, supply and marketing, upstream and downstream, government, enterprises and citizens, online and offline. So, what are the benefits for the automotive aftermarket?
The impact of automobile trade-in on the automobile aftermarket
Each segment of the automotive industry has a light or heavy relationship with each other, influencing each other and restricting development. The trade-in of old cars for new ones may have the following impacts on the automotive aftermarket:
Drive automotive aftermarket demand:
The car trade-in policy encourages consumers to exchange old cars for new ones, thereby promoting the growth of car sales (including new car and second-hand car sales), which will drive demand for the automotive aftermarket, including auto parts, repair services and after-sales maintenance.
Automobile aftermarket upgrade:
The trade-in of old cars for new ones will promote the upgrading of the automobile aftermarket. After consumers replace their cars with new ones, the demand for accessories and services will also increase due to the continuous improvement of new car manufacturing technology. The automotive aftermarket will need to provide more high-quality, high-performance accessories and repair services to meet consumer demand.
Promote innovation and technological upgrading:
The car trade-in policy encourages consumers to buy new energy vehicles or more environmentally friendly cars, which will promote the development and promotion of new energy vehicle technology. The automotive aftermarket will need to adapt to the advancement of new technologies and provide accessories and services related to new energy vehicles.
Promote online and offline collaborative development:
The automobile trade-in policy requires the coordinated linkage between production, supply and marketing, upstream and downstream, government, enterprises and the public. The automobile aftermarket also needs to establish closer cooperative relationships with automobile manufacturers, relevant government departments and consumers to jointly promote the development of the automobile aftermarket.
