After the collapse, how can the auto market be reversed by "heavy assets"?

Two things last month brought the auto market back into public view. On November 30, JD.com announced the completion of the acquisition of the Taoshang gear, and will build an integrated platform for the entire industry chain of the automotive aftermarket. On December 1st, the vehicle owner of SAIC Motor Group completed a round of financing of RMB1bn, Ping An. , China Taiping and China Merchants Wealth co-invest.

After the auto market started to attract attention, in 2015, O2O companies such as cloud car washing, Zhifuhui, car 8, e car wash, Boao car maintenance, Kung Fu car wash, etc. were closed. According to statistics from the Traffic Control Bureau of the Ministry of Public Security, as of the end of June 2017, the country’s car ownership was as high as 205 million vehicles, but why the auto market is dead?

The majority of people think that the cause of this round of closing tides is a single business model. Although the “one dollar car wash” to obtain users has enriched the way of getting customers and services, the service capabilities and service quality are limited, and they cannot replace the store model. When incremental users are converted, users who rely on subsidies cannot tap their potential value.

After two years of silence, the major players in the current car market have all entered the middle and late stages. The Tiger Cars obtained D-round financing in 2016; in May this year, Le Chebang was awarded 300 million yuan in Series B financing; in October, the code-raising car was awarded tens of millions of dollars in C+ financing; in December, Che Xiangjia won 10 Billion B round of financing. What they have in common is that they are leaning toward "heavy assets."

Why light to heavy?

At present, there are three types of vehicle after-market services: chain stores represented by car ownership and classic car ownership, B2C e-commerce sales platform represented by Toke Motors, and B2B supply represented by Taoshang. Chain system. Although there are differences in business models, but for low-frequency automotive services, a single vertical service can not improve the user stickiness, so each based on the original business to extend the service chain.

This year, the Tigers have established a strategic cooperation with 3M and have conducted in-depth cooperation on online service systems and customized product customization. Starting with B2C e-commerce, the Tigers have car-raised and cooperated with auto brand owners, helping them to improve their operational efficiency.

Che Xiangjia has already had 1,100 direct-operated stores in 100 cities across the country and has served more than 2 million users. At the B-round financing conference, Che Xiangjia CEO Xia Jun said that from the first phase of heavy assets, heavy operations Has begun to move toward heavy asset-weighted operations;

Dian Dian keep a car is taken to "join + supply system" approach to the development of chain stores in June this year, keeping a car Dian Dian upgrade the stores management system, to provide terminal stores a complete Internet solutions;

In November, JD.com unveiled an unbounded car program and announced that it will transform 100,000 car repair shops into smart repair shops, and plans to launch Jingdong branded car service stores by the end of the year.

A closed loop over the business, as the aggregation point line shop service is always not open around a ring. The traditional offline store services are provided by two parties: 4S stores, with relatively complete services and processes, but the prices are too high; fast repair shops are cheap, but due to the lack of a perfect service system, the quality of services is relatively insecure.

“I personally don’t value the lightness so much.” Wei Qi, the managing director of China Gold, told Titanium Media that “through the online opening of parts stores to achieve diversion, but there is still a lot of need to improve the quality of offline docking services. For those companies It's a lot of constraints for the next step to move forward."

At the time Taotao stalls were acquired by Jingdong, the titanium media author Ni Shu had analyzed the article, and the Taobao stalls launched a new service brand “Taoyun Yunxiu” to enter the auto market O2O in February 2015, but it was repaired at the Taobao cloud. In operation, Yu Yu, the founder, and Xiao Jun, the investor, disagreed: Yu Yu believes that she should adopt a self-supporting model, while Xiao Jun insists on the joining model, and the differences are not tunable, resulting in Yu Hao’s departure.

Joining, self-employed, system upgrades, and the implementation path for offline stores vary, and although light asset models have been falsified by the market, heavy assets are not easy.

According to an official interview with the company's CEO, Fei Bank, the self-support model was too heavy to favor the development model of the 2B platform. The reason why China does not have a large automobile service chain system is that people and services are difficult to standardize. “This is an industry that depends on refined operations. Unlike KFC packages, recipes and ingredients are highly standardized products.”

Although how to “heavy” has not yet emerged from a clear model, Xia Jun believes that direct sales can control the size of the online store and the overall quality of operations. Che Xiangjiao is currently not completely open to the mode of joining. “This phase has not yet reached. Therefore, we did not do it, and it is gradual.” Xia Jun believes that after the formation of capabilities such as systems, technologies, and customer-delivered products, it will become an advantage of cooperation and integration with socialized outlets, reducing the number of outlets that may be operating and serving after joining the brand system. On the risk.

Growth points that grow from below the line

As the owner of the B-Financing Group's FA, Chen Hong, Chairman and CEO of Hanergy Investment Group, revealed to titanium media that investors are interested in the heavy asset model. “The problem of assets is not a phased one. Once you enter the franchise mode or join with strong management, it is not the same as joining a kindergarten. Because many people have real estate, car ownership, and this time for the quality of products and services. Control, the control of the brand is guaranteed."

The reporter had previously reported that Bo Yang had closed down the car a few months before the start of the line to achieve the "light to heavy" transformation, due to the business model to burn money and encountered financing failures, resulting in capital chain breaks. Why is this year's heavy asset model favored by capital?

"The main issue at the time of the 2017 split is that the offline is fundamental, and experience is the essence," Xia Jun said at the 2017 T-EDGE summit of Ti-Media. Interestingly, Chen Hong also mentioned the chain model several times during the interview. “The model of pure online is going to be very difficult to go offline, because the offline resources are actually very difficult to shake.” Massive stores formed a huge The network, which includes listings and customers, has enough contacts to increase transaction efficiency.

The car service line stores will also form a vertical and horizontal extension with one point. For example, with the rise of new construction vehicles, free life-long insurance, free life-long roadside assistance and other offline services, the car offline stores can become the infrastructure; horizontal dimensions are laid in the key points of the user's life path After the cooperation between Chexiangjia and Guoji Zhijun Automobile, the car's online marketing capability will become a shared outlet for sales and delivery of the car after it is officially launched on the market next year; in addition, it also cooperates with real estate developers such as Country Garden. Providing households with home services; cooperation with ETCP is based on a large number of parking resources to achieve connectivity in terms of food, clothing, housing and transportation.

In addition to its own business development, it is worth noting that Che Sai Family B’s round of financing has appeared in Ping An, China Taiping and China Merchants Wealth; Shi Pingjun, deputy general manager of Pingan and P&C, frankly stated that “safety auto insurance customers are nearly 50 million, scattered In all parts of the country, they need services every day. We especially hope that there will be a uniform standard and unified and standardized services available to customers.”

For the importance of standardized automotive services to insurance companies, Yu Ze, general manager of TPI Insurance, understands that “how to make it easier for customers to view the damages on their own will ultimately fall to standard maintenance. Solve the final offline maintenance."

Cooperation with insurance companies is not an example. In February of this year, Shanghai Carmaron Information Technology Co., Ltd., a company affiliated with CarNet, was listed on the New Third Board. This is the first company in China that has maintained the business model of the above doors and is the first company to list new boards. In previous reports by Titanium Media, the business model of this company was not much different from previous maintenance of O2O. However, most of its sales were from insurance companies. Since 2015, they have cooperated with insurance companies and thus sold their institutional customers. The amount has risen sharply.

The main reason why insurance companies cut into the after-market automotive service is that off-line maintenance after-sales outlets are service providers for insurance claims, and they can also play the role of insurance value-added services. In addition, they provide insurance sales with landing scenes.

In addition to the car enjoy home, Ping An also acquired the car home; the Asian Autos who invested in the Tohmatsu car also invested in the vehicle insurance parity tool “best benefits”; the car insurance from the car insurance also plans to open the line to open the store, the goal It is to build a big data platform for automobiles. With the reform to promote commercial auto insurance rates, the insurance industry began upstream and downstream integration.

"Automotive after-market service companies and insurance companies are natural cohesion, so in insurance sales and in-depth maintenance cooperation, this is the most basic physical reaction." Xia Jun told reporters on titanium media that he is more fancy, "the follow-up hope Attempts at service model innovation and user experience, such as full interoperability."

The code-raising car began laying social stores from last year, focusing on the accumulation of stores and data, and based on this value-added services. As the "car sharing" arrangement automotive aftermarket chain service brand, the car home to enjoy in 2020 is expected to open ten thousand stores. The first step of these stores can provide vehicle insurance with scenes of damage management and maintenance. When the data is accumulated to a certain level, the imaginable space can also be extended to used car e-commerce platforms and auto finance, for example, to help second-hand car e-commerce platform testing. a car accident, wading car, a train and other vehicle had insurance records may also provide an effective risk control for car finance.

In the current electricity supplier giants have the layout of new retail, stores the line was given a multi-concept, service aggregation, brokered transactions, data collection. Experienced rainbow night's automobile market, will run out of another chain of home? Time is yet to verify.