The latest statistical data released by the China Association of Automobile Manufacturers shows that the national automobile sales in June reached 2.3 million units, an increase of 4.8% month on month and 11.6% year on year, reaching a new historical high in the same month. It is understood that after the sale of automobiles, various services during the use of automobiles, such as maintenance and repair, have generated a aftermarket of 1.2 trillion yuan. Choosing professional automotive after-sales stores has become a consumption trend among some car buyers.
Faced with the huge automotive aftermarket, internet companies such as Alibaba, Tencent, and JD.com have also entered the automotive aftermarket industry. After a large amount of capital is focused, what changes will it bring to the entire industry in the future?
Industry insiders have analyzed that many internet companies entering the automotive aftermarket across industries have accelerated the transformation and upgrading of the entire industry. These internet companies' huge online traffic, strong warehousing and logistics capabilities, financial resources, and even brand advantages are the underlying support for their layout in the automotive aftermarket.
Chen Min, CEO of Tuhu Yangche, introduced that such a large market requires larger and more leading enterprises to work together to regulate the market. Only competition can bring more prosperity and standardization to the market.
In June of this year, Tuhu Yangche made its first commitment to a maximum 10-year warranty for the engine and gearbox, paying in advance for the uncertain future maintenance expenses of the car owner.
Regarding the original intention of Tuhu's launch of this service, Chen Min stated that the core components of traditional fuel and hybrid vehicles are the engine and gearbox. After more than three years of the vehicle, major faults mainly occur in these two areas. Tuhu's maintenance and upkeep is aimed at solving the real pain points for users. Even without the original warranty and even without maintenance at a 4S store, consumers can still have a very reassuring maintenance channel for their cars.
Mr. Liu, a car owner with 18 years of driving experience, was quite impressed by this. After driving 80000 kilometers, his second beloved car made a strange noise. After going for an inspection, it was found that the main problem was in the engine or gearbox. The maintenance personnel mentioned that the cost of dismantling and inspecting alone could reach tens of thousands of yuan in five figures, and it did not include the cost of repairs. At that time, Mr. Liu was in a dilemma, Faced with such expensive inspection fees and unknown repair costs, the cost is too high. If it's not repaired, it's a bit regrettable that we can only replace the old car with a new one and discard it.
Data shows that as of July 7th, more than 110000 car owners nationwide have obtained the "engine transmission warranty" rights for free. After the launch of the "Engine Transmission Warranty", consumers have received enthusiastic responses. For the majority of car owners, the attraction of the "engine transmission warranty" of Tigo Yangche lies in solving some of the pain points of consumption, receiving it for free without additional burden, and the endorsement of well-known insurance companies, making consumers more confident and without after-sales concerns.
It is reported that the "Engine Transmission Warranty" launched by Tuhu Yangche guarantees the entire power component of the car's engine and gearbox, which is covered by Ping An Property Insurance Shanghai Branch of China. It is free to collect, quick to settle claims, and can be covered for up to 10 years/300000 kilometers.
As long as the vehicle is registered for no more than 5 years and has a total mileage of no more than 100000 kilometers, users can receive a free warranty service when enjoying designated maintenance services at the Tuhu Maintenance Workshop. When placing an order, the user can check the relevant service in the "Order Confirmation" step or consult the store technician to activate it.
In terms of quick claims settlement, users who enjoy maintenance services at the Tuhu Maintenance Workshop can receive warranty services if they identify engine and gearbox malfunctions caused by maintenance. After confirming the fault and passing the designated third-party testing agency's inspection and recognition, the owner can claim compensation for engine maintenance costs and necessary auxiliary material costs incurred during the repair.
Therefore, consumers can enjoy a 6-month and a 24-month warranty for the engine and transmission after a single maintenance. As long as users regularly maintain their vehicles according to the recommended maintenance intervals or manufacturer's maintenance manual in the Tigo Maintenance App, they can continuously receive the "Engine Transmission Warranty" service, with a warranty period of up to 10 years/300000 kilometers. From the current consumption habits of Chinese people, a 10-year or 300000 kilometer warranty almost covers the entire life cycle of car owners.
From the big data of the automotive aftermarket, the confusion of car owners mainly focuses on the following points: first, "I dare not leave the 4S store for maintenance", second, "I don't know if the maintenance is done well", and third, "I'm afraid of improper maintenance and malfunctions". In fact, apart from 4S stores, it is unclear whether maintenance and upkeep are reliable in the market, whether the technical process is standardized and reliable, and whether the recurrence of faults is related to improper maintenance and upkeep. The innovative measures launched by Tuhu Yangche are also aimed at reducing consumers' doubts.
As early as May 2015, Tuhu Yangche and Zhongan Insurance launched the first tire insurance in China, filling the gap in the field of tire insurance. Currently, over 4 million car owners nationwide have obtained tire insurance coverage.
Tires are one of the most easily worn parts of cars, and the difficulties in reviewing and paying compensation in previous after-sales claims have also become a problem for some car owners. With providing high-quality services as the core, "Tuhu Tire Insurance" directly hits the pain point and innovatively explores tire insurance compensation. It proposes a compensation plan for tire blowout and bulge: users who purchase tires on the Tuhu platform and install them in the Tuhu Gate store will receive free tire insurance protection services; In the event of a tire blowout or bulging accident within the warranty period (within one year), 80% of the initial purchase price of the tire can be compensated in the form of vouchers. Users who meet the claims requirements can apply for claims online by following the Zhong'an Insurance WeChat platform, and then upload photos according to the requirements to quickly obtain claim vouchers.
Chen Min stated that improving the service guarantee in the automotive aftermarket is the direction of Tuhu's exploration, and introducing insurance is one of the paths. "We provide insurance for our services, strengthen consumer after-sales protection, and at the same time, this also urges us to improve service quality