Auto Parts Enterprises Explore Financial Road

Recently, Weichai Power introduced the “Walking Together” project in the accessories market, and cooperated with ICBC to issue “Peony Service Shinkansen Card” to Weichai customers. Apart from regulating the market price of accessories, the project also adopted a vigorous pricing policy.

Wang Xiaobin, the main participant of Weichai’s “Walking Together” project, said: “The market share of Weichai in the engine parts market for commercial vehicles is not particularly high, and customers’ perception of us is not high. The launch of this project mainly has three purposes: The first is to guide customers to find formal accessories sales channels, the second is to regulate the market price of accessories, and the third is to use bank cards to settle payments to increase efficiency.” In the context of new car sales tend to be flat and the amount of holdings is increasing rapidly, the profit of after-sales service The proportion will increase significantly and auto parts companies will obtain a relatively long-lasting source of profit from after-sales services. The "car-linked me" project is a powerful layout for Weichai Power's specification of the engine parts market for commercial vehicles. At the same time, adopting financial means is also a brand-new attempt by auto parts companies to force the auto aftermarket.

By "After financial hand" to develop new markets <br> <br> It is understood that the launch of Weichai "car with me" project in Weifang maintaining the original spare parts company, repository, service stations, specialty stores of accessories On the basis of the two-way logistics and capital flow, the capital flow between the original service station, accessories franchise store and users was transferred to the e-commerce platform to achieve the purpose of monitoring suppliers. Wang Xiaobin told the reporter that due to the different timing of card issuance in various cities, the card has not yet been fully issued and it is estimated that sales will be formed in February 2014. However, at present, Weichai has made preparations for all aspects of system development. Once the cards are issued, customers can use them as long as they are activated. "The launch of the 'Peony Service Shinkansen Card' will increase the reputation of Weichai products and at the same time shield counterfeit and inferior products, and help Weichai to achieve its goal of enhancing the competitiveness of the market." Weichai's market service personnel told reporters. “Finance is a means by which Weichai limits the authority of dealers to increase the price of accessories through bank cards, and safeguards the interests of customers and enterprises.” Wang Xiaobin said, “At present, the parts order systems used by Weichai repair stations and regional distributors are all Connected, the use of bank financial payment and company parts order system connection, the future can be based on the development of e-commerce."

Parties' financial hand "attitude <br> <br> different approach to the financial aid of Weichai hand regulate the market, the industry how to treat? The reporter interviewed trade associations, auto parts companies, and banks with questions. Chen Yuanzhi, Director of Parts and Components Department of China Automobile Industry Association, said: “The current auto parts market is too confusing. This practice is a means adopted by companies to standardize the order of the accessories market, in addition to alerting the government to strengthen the construction of standards and regulations in the post market as soon as possible. I think this is also an innovation that can provide reference for other parts and components companies.” Fu Wei, general manager of Zhuzhou Elastica Electromechanical Co., Ltd., told reporters: “Auto parts companies are involved in the financial sector according to their own company characteristics is a new I try to agree with this approach, which may create a new profit model for auto parts companies.” Another head of the parts and components company stated that he has no opinion on the auto parts companies' involvement in the financial sector. When asked if there are plans for this in the future, the responsible person stated that he will not act in this area in the future. Wang Wei, general manager of Minsheng Bank’s auto finance business, put forward his own views from a financial point of view: “The means adopted by Weichai, though not auto parts, are involved in innovative activities in the financial field, but it is a traditional financial business form of commercial banks. To a certain extent, the measure can regulate the price of the accessories market and regulate it effectively. However, there is a problem that although the “Peony Service Shinkansen Card” is in the hands of customers, there is a problem of activation rate.”

Involved in the financial industry still needs "professional search"

According to the prediction of China Association of Automobile Manufacturers, by 2025, China’s auto finance industry will have a market capacity of 525 billion yuan. It can be predicted that the future potential of the auto financial market is huge. This broad and promising market prospect has brought huge development space for the auto finance industry. . In the face of the temptation of the market, not only automobile manufacturers have established financial companies to expand automotive finance business, auto parts companies are ready to extend their reach into the financial sector; at the same time, with the rapid development of the auto industry, banks, car rental companies, etc. Have eyeing auto parts companies. In addition, the China Automotive Industry Financial Collaborative Innovation Platform, established by the China Machinery Industry Federation at the end of 2013, has attracted automotive parts companies that have not been included in the mainstream of auto finance before, and will make great strides for future auto parts companies. The financial sector provides support. From this, we can predict that in the future, auto parts companies will welcome new opportunities for development in the financial sector. The introduction of the Weichai "car-linked me" project may be the "overture" of auto parts companies entering the financial sector. Wang Wei said: "Auto parts companies must innovate when they are involved in the financial sector. In addition to traditional financial measures taken by Weichai, they also need to include more service content and consumption content, and strive to achieve the upper and lower reaches. The parts industry chain is united to carry out cash flow settlement and cash advances, develop more service content and sales areas, and realize the added value of traditional profits.” Although the timing is up to the top, it has a long way to go. It is still necessary for auto parts companies to fully enter the financial sector.

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