The automotive aftermarket industry is experiencing a significant surge, with companies increasingly listing their products and services. This trend is seen as a boon by many dealers, although some view it as a double-edged sword.
Summary: The automotive aftermarket industry is witnessing a notable rise in enterprises listing their products and services. While many dealers see this as a positive development that could boost sales and market reach, a few remain cautious, considering it a double-edged sword. This article delves into the perspectives of various dealers across China, highlighting the potential benefits and challenges of this trend.
The automotive aftermarket industry, which includes parts, equipment, and accessories for vehicles after their initial sale, is on an upward trajectory. According to a report by Grand View Research, the global automotive aftermarket size was valued at USD 390.10 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 3.8% from 2021 to 2028.
A dealer from Wuhan highlighted the forward-thinking nature of Caska, a prominent player in the industry. He noted that Caska is at the forefront of innovation, unlike some other companies that are still trying to capture market focus. This proactive approach is seen as a significant advantage in the competitive landscape.
In Xiamen, a dealer praised Caska's robust research and development (R&D) capabilities and its proprietary factory. This strong foundation in R&D is crucial for maintaining a competitive edge and ensuring the production of high-quality products.
A dealer from Quanzhou expressed the need for benchmark-oriented enterprises in the automotive market. He emphasized that consumers need to understand the industry better, and having a well-known enterprise like Caska could help bridge this knowledge gap. He also mentioned that Caska's potential listing would require substantial preliminary preparation, indicating the company's strength and market thrust.
A Chengdu dealer pointed out that for Chinese listed companies, financial performance often takes precedence over pricing. He criticized the lack of real technical content in many listed companies, describing them as "garbage companies." However, he acknowledged that if Caska were to list, its market share and brand recognition could make it a welcome addition to the market.
Most dealers agree that listing aftermarket enterprises will positively impact product sales. A dealer from Xinjiang mentioned that listing would increase product visibility, lower prices, and expand the buying population. Similarly, a Quanzhou dealer noted that the audience for the product would grow, and prices would decrease, making the products more competitive.
A dealer from Xiamen echoed the sentiment that overall prices would drop post-listing, enhancing competitiveness. However, a Wuhan dealer had a more nuanced view, stating that while sales might improve, the lack of standardization in the automotive electronics industry could lead to chaotic market conditions.
The rise of auto aftermarket enterprises listing their products and services is reshaping the industry landscape. While many dealers see this as a positive development that could enhance sales and market reach, some remain cautious about the potential challenges. As the industry continues to grow, driven by innovation and consumer demand, it will be crucial for companies to maintain high standards and adapt to the evolving market dynamics.
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