BETHESDA, Md. – The Auto Care Association’s recently released Digital Auto Care Factbook 2015 and the Digital Auto Care Factbook & Lang Annual 2015, feature an updated view of key factors driving China’s light passenger vehicle auto care market.
China’s light passenger vehicle parc reached a new milestone in 2013 breaking the 100 million unit level, ushering China into its “auto care era,” according to the Association. Strong new vehicle sales in 2013 of nearly 19 million light passenger vehicles continued to add fuel to their expanding auto care industry, which grew 19 percent over 2012.
While new vehicle sales have slowed from the past year’s explosive double-digit growth rates, general vehicle aging has occurred, the Auto Care Association points out. As a result, middle-aged vehicles between four and nine years old have grown rapidly. This age shift is accelerating opportunities for general repairs typically done between 50,000 and 100,000 miles, balancing the historically significant regular maintenance and light repair volume. This shift notwithstanding, China’s parc is still very young at an estimated average age of 4.2 years, compared to 11.4 in the United States.
Auto Care Association members have received a complimentary copy of the Digital Auto Care Factbook 2015 as a member benefit, along with three guest passes. While members can purchase additional copies at $200, the non-member price is $500. The Digital Auto Care Factbook & Lang Annual 2015 also is available for $650 to Auto Care Association members and $1,300 for non-members. To order any of these digital publications, visit www.autocare.org/market-intelligence/ and download the order form or contact member services at 301-654-6664.
