China's efforts to boost automotive aftermarket consumption are expected to unlock demand from vehicle owners and create new growth opportunities, as the country's auto sector looks beyond new car sales to services throughout the vehicle ownership life cycle, industry experts said.
The measures, released by the Ministry of Commerce and eight other government departments, cover vehicle modification, recreational vehicle camping, classic cars, maintenance and insurance services, motorsports and car rental. They include 17 policies aimed at removing barriers in the automotive aftermarket, improving standards, expanding consumption scenarios and strengthening service provision.
China's large vehicle ownership base provides a foundation for aftermarket growth. The country has about 370 million automobiles, with passenger cars aged seven years or older accounting for more than half of them, according to the Ministry of Commerce.
Forty cities have been designated as pilot areas for auto circulation and consumption reform, allowing them to explore different approaches based on their industrial strengths and consumer demand.
Chengdu, Sichuan province, will focus on areas including motorsports, classic cars and secondhand vehicle circulation, while Hangzhou, Zhejiang province, will explore measures related to auto purchase restrictions and digital tools for consumption services.
