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YCP Solidiance Collaborates on 2022 Auto Care Factbook

Despite the global downturn in many sectors, the automotive industry recovered quickly and is expected to become a USD 477 billion industry by 2024.

15 July 2021

Maryland, July 2021 – YCP Solidiance is proud to be part of the AutoCare Association’s 2022 Auto Care Factbook, a multi-awarded report that publishes in-depth data and analysis on different segments in the auto care industry. The 2022 edition of the Factbook delves into the current landscape of auto care as it deals with the effects of the COVID-19 pandemic.

Despite the global downturn in many sectors, the automotive industry recovered quickly and is expected to become a USD 477 billion industry by 2024. Our Managing Partner, Pilar Dieter, provided her insights and research for the following sections on auto care’s global performance:

The Aftermarket E-Commerce Ecosystem in China

China’s robust and rapidly evolving aftermarket e-commerce ecosystem is considered the global blueprint for how other countries fashion their own growth. Key to China’s ecosystem are three core stakeholders that are integrating legacy players such as garages, workshops, insurance providers, and auto parts manufacturers and distributors into the overall structure:

  • B2C: Auto Parts E-Commerce Platforms
  • O2O: Auto Service E-Commerce Platforms
  • B2B: Auto Supply Chain Platforms 

These three platforms are able to simplify the purchase and information process for consumers, offer convenience in vehicle maintenance, and help modernize the business operations of auto service centers.

Vietnam’s Auto Care Industry

The growth of passenger vehicle sales in Vietnam is now at 18.3% year-on-year—a noticeable shift in a country where two-wheel vehicles are still the dominant mode of transportation. With more consumers purchasing passenger vehicles, the demand for aftermarket parts and components has also increased. However, most sales of these components are only through offline distributors or wholesalers in Vietnam’s metropolitan areas, with online distribution only at a low 2%—a stark contrast to the thriving aftermarket e-commerce sectors of countries like China.

The distinction in these two countries’ aftermarket industries is explored in the Factbook, along with a deeper dive into the auto care industries of the United States, Mexico, and Chile. A full copy of the official 2022 AutoCare Factbook is available for download here.

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