06 Jun 2022

CROSBY Research: Crosby Bi-noculars (Bi-weekly Issue 13) - Feature Article: Riding on luxury boom and burgeoning lucrative after-sales market

Since the introduction of 4S store model in China at the end of 20th century as a one-stop auto shop, China’s authorized dealer system has made a shift from single store to corporate operation. The 4S dealership has become the dominant platform for retailing passenger vehicle (PV) in China. According to ASMR report, it expected that the total revenue of PV dealership market in China will increase from Rmb4.4tr in 2019 to Rmb5.5tr in 2023, representing a CAGR of 4.4%.