A Nio Firefly with rally-style wheels and body kit at the Guangzhou auto show in November. QIN ZIHANG/FOR CHINA DAILY
China has revealed a sweeping package of measures to relax longstanding restrictions on car modifications, motorsports and classic-car collections, as authorities seek to unlock growth in the country's trillion-yuan automotive aftermarket amid slowing new car sales.
The policy, jointly issued by the Ministry of Commerce and eight other central government departments, introduces 17 specific measures across six areas including vehicle modification, recreational vehicle camping and car rental. It aims to break down institutional bottlenecks weighing on the country's massive vehicle aftermarket and cultivate fresh consumption scenarios amid strong demand for customized automobiles.
According to data from the MoC, as of June, the number of automobiles in China reached 370 million, with passenger vehicles over 7 years old accounting for more than half. This underpins a shift from basic mobility to personalized, experience-driven consumption, opening a potential multi-trillion-yuan aftermarket opportunity.
Currently, the domestic vehicle modification market stands at around 160 billion yuan ($22.1 billion). It grew 23.5 percent year-on-year in the first quarter of this year, outpacing the growth in vehicle sales by a wide margin, according to industry data.
