Feb 1, 2021|
JD Auto Report: Car Sales and Auto Aftermarket to Move Online
by Vivian Yang
According to the data from JD, in 2020, the number of car brands that sell cars on JD Auto, JD’s online automotive selling platform, doubled YOY.
The JD Big Data Research Institute and 21st Century Business Herald, China’s leading business media group, co-launched the JD Auto Consumption Ecosystem Report 2021 on Jan. 28, concluding that online platforms’ role in integrating the whole chain of automotive manufacturing, transportation, sales and services is crucial for the development of the auto industry against the odds of the pandemic.
“China’s auto market witnessed a robust bounce back in the second half of 2020 after COVID-19-caused sales to decline earlier in the year, with an increasing amount of car sales and aftermarket services happening via ominichannel,” noted Hui Liu, Chief Data Officer of JD Big Data Research Institute, co-author of the report, during the online report release event.
When it comes to motorcycles, Gen Z and females become the fastest growing consumer groups. JD Auto’s data shows that consumers under 25 years old account for 28% of the overall motorcycle buyers on the platform. The number of female buyers increased by 61% YoY. They represent 39% of the overall motorcycle buyers on JD.com in 2020.
Tires and engine oil topped the list of auto aftermarket product sales, with transaction volume rising 24.8% and 9.7% respectively, reflecting the high speed growth of online market for auto products.
Brands such as Mobil, Shell, Pirelli and Michelin whose engine oil or tires are highly trusted, enjoy stable growth online via JD.com.
As China’s auto market has become increasingly mature. Consumption of car maintenance and insurance on JD is surging. By December 2020, JD Auto Service, JD’s omnichannel car maintenance chain had expanded to over 1,200 stores in 29 provinces, municipalities and autonomous regions across China.
The report also highlighted that consumers from China’s lower-tier cities and owners of new energy vehicles have high demand for arranging car maintenance via online platforms.
Additionally, sales of car-use electronics, cleaning and decoration products experienced rapid growth at the same time, with decorative products reaching 407% YoY sales increase in 2020, said the report.