BETHESDA, Md. (July 31, 2014) — The Auto Care Association (ACA) recently released its Digital Auto Care Factbook 2015 and the Digital Auto Care Factbook & Lang Annual 2015 that includes 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 and ushering China into its “auto care era,” the Bethesda-based trade association said.
Strong new vehicle sales in 2013 of almost 19 million light passenger vehicles continued to assist in the growth of the auto care industry, which grew 19 percent over 2012.
Since last year’s explosive double-digit growth rates, the new vehicle sales have slowed, with general vehicle aging occurring, according to the ACA. Thus, middle-aged vehicles between four and nine years have grown rapidly. The study shows this age shift is accelerating opportunities for general repairs that are typically done between 50,000 and 100,000 miles. This shift notwithstanding, China’s parc is still young—at an estimated average age of 4.2 years—in comparison to the U.S. at 11.4 years.
ACA members received a complimentary copy of the factbook, along with three guest passes. To order a copy, visit the ACA’s website.