Core Introduction:
1) In the future, the growth of new car sales will gradually rely on the replacement of old cars; the sales channels of second-hand commercial vehicles will gradually change from single to diversified;
2) Transactional platforms are gradually emerging in the second-hand commercial vehicle market, and in addition, OEMs are also gradually improving the layout of used cars;
3) Platform players are currently highlighting their advantages in terms of vehicle source, database, valuation detection model, after-sales service system, etc., and traditional second-hand car dealers are gradually transforming to platform.
Source | Yunlian Think Tank (ID: tucmedia), author | Meiyan Shi, Editor, | Small L
Compared to the booming passenger used cars, commercial used cars are a bit obscure. However, this trillion-level blue ocean track, who can come out on top, seems to be unknown. Brushing aside the fog, the trading platform has begun to promote the transparency and scale of transactions in the second-hand commercial vehicle market, and traditional second-hand car dealers are gradually transforming into platforms.
1. Market demand drives the second-hand commercial vehicle market to gradually "lively"
Second-hand cars are the products of the development of the automobile industry to a certain stage, which means that the market ownership and consumption concept have reached a certain stage of development; as replacement cars gradually become the growth point of new car sales, second-hand commercial vehicle market traders have also mushroomed, prompting the second-hand commercial vehicle market to gradually "lively".
1.1 Sales in the new car market fell off a cliff, and the replacement of old cars will become the growth point of new car sales
Since the introduction of the National VI emission standards in July, the National V models are no longer allowed to be licensed, and the sales of heavy trucks in July were only 69,000 units, down 50.4% year-on-year, close to "waist chopping", and by November, the sales volume of the heavy-duty truck market was only 48,000 vehicles, which was the seven consecutive months of decline in the heavy-duty truck market since May, which was about 87,600 units less than the same period last year, a year-on-year decline of 65%, and the entire market is entering an era of low increment and high stock.
According to data from the China Automobile Dealers Association, china's second-hand commercial vehicle trading volume has exceeded 3.1 million in 2020, an increase of 14.7% year-on-year, and the transaction volume has exceeded 400 billion yuan. As of October this year, the trading volume of second-hand commercial vehicles in China was 2.2995 million units, of which the trading volume of second-hand trucks was 1.2067 million units, an increase of 17.17% year-on-year.
From the perspective of developed countries, the ratio of used car trading volume to new car trading volume in the United States is 1.5:1. At the same time, 75% of the new heavy-duty trucks in the United States need to rely on second-hand car replacement to achieve sales, and the pure new car increment has been very small. According to the statistics of China Automobile Circulation Association, the ratio of China's second-hand commercial vehicle trading volume to new car trading volume is only 0.6:1, in Shandong, Hebei, Henan, Anhui, Liaoning and other places of heavy truck sales, about 40% is through the second-hand car replacement and the formation of orders, The China Automobile Circulation Association predicts that by 2025 increase to 1:1, which means that China's second-hand commercial vehicles will have huge opportunities.
In fact, with the updating and iteration of China's automobile emission regulations, domestic commercial vehicles have entered the era of stock, and second-hand car replacement has become an important source channel to drive new car sales, and has gradually become an important part of the commercial vehicle industry system.
1.2 Change from single sales channels to channel diversification
At present, a relatively formal sales channel system has not yet been formed in China, but it has evolved from a relatively single channel in the traditional second-hand commercial vehicle trading market to a more diversified channel for Internet platforms and OEMs to participate in transactions.
Traditional second-hand commercial vehicle traders, mainly personal intermediaries "scalpers" and second-hand automobile transport companies, second-hand automobile transport companies trading area characteristics are obvious, Jiangxi Gao'an and Shandong Liangshan are China's famous used car trading places.
With the development and popularization of the Internet, the second-hand car trading platform has gradually emerged, and the platform trading model is to combine online transactions with offline traditional sales, such as Shiqiao used cars, truck tesco and snail trucks.
Under the pressure of the decline in new car sales, OEMs have been successively laying out the second-hand commercial vehicle market. For example, Jiefang, Sinotruk and other car companies.
2. The main player in the second-hand commercial vehicle market
2.1 Traditional traders: mainly "scalpers" and second-hand automobile companies
1) "Scalper": Personal information matchmaker
"Scalper" is also the so-called personal intermediary, in order to earn tea and water fees and information fees, basically through the introduction of acquaintances to complete the transaction, the cost of trust is higher, while there is no after-sales guarantee system, the risk is higher.
2) Second-hand automobile transport company: with Liangshan in Shandong and Gao'an in Jiangxi as the main distribution centers
As the so-called "North Liangshan, South Gao'an", Shandong Liangshan and Jiangxi Gao'an are the distribution centers for large-scale used car truck transactions in China, and second-hand automobile companies in these areas came into being.
Taking Jiangxi Gao'an as an example, the formation of its second-hand car trading market relies on the huge logistics demand of the territory and the high ownership of logistics vehicles, so it has spawned the demand for second-hand car trading. The age of Gaoan second-hand trucks is relatively short, most of the trucks are about two or three years, generally all kinds of brands of dump trucks, tractors and trucks, etc., which are more selective.
Up to now, there are more than 4,300 second-hand automobile transportation companies in Gao'an City; there are more than 200,000 enterprises in the corresponding second-hand car industry chain, which greatly enriches the second-hand car market in Gao'an. Second-hand automobile transport companies play multiple roles, mainly including affiliated companies, guarantee companies, second-hand car dealers, intermediaries, logistics companies and financial service providers, which can provide more comprehensive services for second-hand car transactions. At present, used car carriers are the main traders in the commercial used car market.
2.2 Main engine factory system: gradually improve the layout of the second-hand car market
For OEMs, the sales of new cars are important, but with the gradual development of the commercial vehicle industry, the automotive aftermarket has gradually attracted the attention of the public, and used cars are an important part of the aftermarket. Nowadays, major domestic car companies have begun to lay out the second-hand commercial vehicle market. Sinotruk has already carried out the business of used car certification, and the business of used car certification such as Jiefang, Foton Daimler, Mercedes-Benz, Volvo and Scania is also planned.
In addition, the main engine factory department has also launched second-hand car financial products, such as Jiefang, Dongfeng Commercial Vehicle, Shaanxi Automobile Heavy Truck, Foton Daimler, etc., all of which have corresponding financial institutions to provide specialized financial services such as financing loans for end customers.
2.3 Trading platform: Shiqiao used car, truck Tesco, snail truck
1) Shiqiao used car with financial leasing background
"Born for commercial vehicles" Of Shiqiao, starting from commercial vehicle financial leasing, the services provided so far have covered the entire life cycle of commercial vehicles, and the second-hand commercial vehicle business is an important part of the commercial vehicle field of Shiqiao's layout, based on years of deep cultivation in the whole industry chain of commercial vehicles, Shiqiao has developed into a larger trading platform in the domestic second-hand commercial vehicle market.
From the perspective of the entire transaction chain of Shiqiao used cars, the source of the car is mainly the dealers, logistics companies, affiliated companies and financial leasing companies of mainstream domestic vehicles, of which dealers are the largest source of shiqiao used commercial vehicles. In addition, although Shiqiao does not directly contact end-end customers, end consumers can borrow money from Shiqiao through their second-hand car dealers.
At the same time, Shiqiao has full coverage from front-end vehicle detection valuation to back-end consumer financing. In terms of vehicle evaluation and testing, Shiqiao has trained the industry's first team of appraisers to quickly achieve accurate assessment and pricing of the residual value of second-hand commercial vehicles.
2) Tesco trucks "born" in logistics fleets
Truck Tesco backed by China Nanshan Group, Nanshan Group's wholly-owned subsidiary Chiwan Oriental Logistics has more than 2,000 own tractors and more than 5,000 semi-trailers, with such a background, Truck Tesco to expand the second-hand commercial vehicle market has a natural advantage.
Truck Tesco front-end vehicles with logistics background mainly come from the fleet, and then trade to the terminal's used car dealers or individual retail investors through its truck Tesco platform. In addition, Truck Tesco only does information matching and does not participate in the transaction of funds.
3) Focus on snail trucks at the export end
Snail truck is located in Liangshan, Shandong, one of the largest trading places for used cars in China, which naturally has the advantage of the geographical location of used car transactions; snail terminals pay more attention to exports, and they have a second-hand truck trading market for offline trading.
At present, snail exports are mainly China III models, and mainly china national heavy duty trucks, export countries are Africa. In the first half of this year, the export volume of snail trucks was 1432 vehicles, and the export value was 14.764 million US dollars, ranking first in the country.
Snail has a professional foreign trade team, and has a foreign trade website, in general, after the foreign trade sales staff take the order, and then according to the order to purchase the vehicle required by the customer, so the snail does not need too much inventory, occupy less inventory funds. In addition, for the financing loan needs of end consumers, the scope covered by snails is small, only covering the region where snails are located, mainly because of the inability to accurately control risks.
3. Will the endgame of the trillion-dollar commercial used car market move towards platformization?
After several years of development, the commercial used car market has undergone qualitative changes, and more and more players have entered the market, prompting the entire commercial used car market to become more transparent, honest and fair.
3.1 Compared with traditional traders, platforming can make the transaction chain more transparent and standardized
In the traditional trading mode, there are fewer "scalper" information channels, the car condition only relies on the introduction of the owner and the consumer's own understanding of the car, the transaction risk is high, can not be scaled and there is no corresponding after-sales guarantee system, the transaction process is neither transparent nor standardized; the management of second-hand automobile companies is difficult, the cost is high, the quality of the product is uneven, for consumers have certain regional restrictions, increasing the cost of purchase, although in this mode consumer choice diversification, with a certain product quality assurance and after-sales system, However, the information between buyers and sellers is asymmetrical, which can easily lead to risks.
Platform-based traders do not have the passive choices and regional restrictions of traditional used commercial vehicle trading. At the same time, relying on Internet thinking, we will develop new models online and offline, and at the same time, have professional appraisers to evaluate and test, and certify the test reports; there are corresponding financial product support to improve the entire transaction chain. For example, when the truck Tesco platform was launched, it set standard circulation rules and standardized all transactions and service links in the entire circulation process. Including vehicle certification, monitoring and evaluation (online and offline assessment and testing), financial services and aftermarket services, to ensure that the transaction entity is traceable, guaranteeable and trustworthy in every link.
3.2 Compared with OEMs, platformization is more selective and easier to scale
At present, although OEMs are successively laying out the second-hand car market, the main purpose is to increase new car sales through replacement. Although this kind of transaction model has a relatively strong credibility, it has a single brand and model, which cannot give consumers more choices. In addition, the main engine factory does not directly contact the end customer in the process of second-hand commercial vehicle trading, and needs to rely on authorized dealers, and dealers may still find a platform to deal with the replaced second-hand cars in the disposal of second-hand cars.
The platform has a wide range of vehicle sources, models and brands, which can give consumers more choices. In addition, the platform is a combination of online and offline traders, online can allow everyone to interact quickly, offline can form a trading network, and can be extended and expanded of the whole model, it is easier to form a scale.
3.3 The advantages of platformization have been highlighted, and the corresponding industrial chain layout also needs to be accelerated and improved
Judging from the current market situation, asset-light platform players have emerged. At the same time, second-hand auto transport companies are also integrating front-end and back-end resources to conduct large-scale transactions, and are gradually changing from the era of selling products to the era of selling services. This also means that traditional traders are transforming into platforms and services.
Whether it is the asset-light second-hand commercial vehicle platform traders in the market or the second-hand automobile transportation companies that are transforming to the platform, they need to accelerate the improvement of the second-hand commercial vehicle industry chain and continuously accelerate the depth and breadth of services in order to promote the benign and orderly development of the second-hand commercial vehicle market.