Opportunities & Challenges in China’s Automotive Aftermarket Compared to Thailand and Indonesia

Build · Compete · Grow
1
Opportunities &
Challenges in China’s
Automotive Aftermarket
Compared to Thailand
and Indonesia
May 2017

Build · Compete · Grow2 consulting.bc@ipsos.com
About Ipsos Business Consulting
Customized Market Research Company in Southeast Asia
Customized Market Research Company Globally
The only market research company with a business
consulting division
A global presence of more than 40 years,
with over 20 years in Southeast Asia
A strong presence in 87 countries with
more than 16,000 employees globally
#1
#3
>40

3 Build · Compete · Grow
About the Speaker
Natee Ruengjirachuporn
Head of Consulting
Natee.Ruengjirachuporn@ipsos.com
+66 2 088 0106
Natee is Head of Consulting with Ipsos Business Consulting,
responsible for Thailand and the Indochina sub-region.
He has extensively assisted major global and local players in
the automotive sector in their growth strategy
development. His clients include OEM, tier 1 and tier 2 part
suppliers as well as raw material suppliers. He specializes in
business model generation, pricing strategy and growth
strategy.
Some of his recent studies include:
• Developing an understanding of the automotive parts
in the aftermarket channel for passenger vehicle and
commercial vehicle segments in Thailand and Indonesia
• Market assessment of automotive battery products in
the ASEAN and China markets
• Evaluation of automotive part distributor partners in
ASEAN
• Identification of unmet needs and opportunities in the
Thai heavy truck market
• Developing a business model for a leading lubricant
manufacturer in the automotive and industrial
segments

1. Automotive Industry Overview
2. Understanding the Aftermarket Distribution Channel
3. Car Owners’ Attitudes Toward Parts Origin
4. Implications of ASEAN-China Free Trade Agreement to Parts Manufacturers
5. Our Recommendations to Automotive Aftermarket Players

Among the three selected countries, China is projected to continue its
lead in PV sales and population over the next 3 years
1.21.01.21.21.1
0.8 0.8
2014
17.9
1.3
2012
15.7
1.4
2011
14.4
0.8 1.0
2015
21.1
19.7
0.9
2013 2020F
27.9
ChinaThailandIndonesia
PV sales in China, Thailand and Indonesia,
2011 – 2020F
CAGR
CN: 10.0%
TH: -1.6%
IN: 5.7%
CAGR
CN: 5.7%
TH: 5.8%
IN: 4.5%
PV population in China, Thailand and Indonesia,
2011 – 2020F
14.7
10.29.58.57.56.7
11.3
2011
77.5
2014
133.6
13.2
244.4
2013
116.1
12.5 13.9
10.1
2012
152.4
93.2
18.2
2020F2015
ChinaThailandIndonesia
CAGR
CN: 18.4%
TH: 8.2%
IN: 11.1%
CAGR
CN: 9.9%
TH: 5.5%
IN: 7.7%
Unit in millions Unit in millions
Source: Ipsos Business Consulting analysis

Among three countries, Indonesia’s PV market remains relatively
underdeveloped even in its tier one city, based on ownership data
PV ownership per 1,000 population, 2015
Indonesia
ThailandChina

A significant number of PVs are and will be out of warranty now and in
2020, which indicates promising demand for the aftermarket
10
70%
30%
14 79% 21%
152 61% 39%
PV Population by Warranty vs. Out of Warranty in China, Thailand and Indonesia
Unit in millions
84%16% 18
24432% 68%
1577%23%
2015 2020
CAGR of out-
of-warranty PV
12.3%
6.5%
10.5%
Out-of-warranty In-warranty

Among out of warranty PVs, Japanese makes dominate the Thai and
Indonesian markets, while Chinese makes are most popular in China
24%
88%
92%
22%
12%
9%
23% 31% 94
100%
11
7 Others include European make, Chinese
make and American make, etc.
Out of Warranty Population by Regional Brands, 2015
Others include mainly American make
Others include US make and
European make, etc.
Chinese Make OthersEuropean MakeJapanese Make
Total number of out-of-warranty PV
Unit in millions

In China, due to an evolving distribution channel, auto parts
manufacturers will need to develop new strategies to capture
opportunities in the independent aftermarket
POSITIVEIMPACT
Distribution channel of aftermarket parts in China
Auto parts manufacturers Online
Brand Executive Shop Self-Owned
Online Shop
B2B E-commerce B2C E-commerce
End Consumers
4S dealers Independent / Chain Stores
offline
O2O
O2O
Distributors
Evolving channel Traditional flow Evolving flow
 B2B e-commerce platforms are perceived as ‘game changers’ as they directly supply parts to workshops
 B2C e-commerce platforms are evolving towards both parts and service providers as most of them are either building internal
service capabilities or cooperating with offline workshops to provide O2O services
 Some parts manufacturers have also entered into distribution groups, leveraging on both online and physical executive shops

In Thailand, OEMs either distribute genuine parts through authorized
dealers, or via authorized OEM parts suppliers who further supply parts
to independent aftermarket channels or end-users
Original Equipment Service
(OES) Channel
Independent Aftermarket Channel
 Genuine parts are normally
distributed via authorized vehicle
dealers or authorized OEM parts
suppliers.
— In minor cases, OEMs may only
distribute genuine parts via
authorized dealers (3S/4S), such as
Honda and GM
— Toyota on the other hand, mainly
distributes their parts through
authorized OEM parts suppliers
 Replacement parts manufacturers
(REMs) rely on parts distributors to
penetrate the market.
— These distributors have an extensive
distribution network, and
relationships with major part
wholesalers/retailers/workshops
across the nation
OES Parts Manufacturers
Vehicle OEMs
Replacement Parts Manufacturers (REMs)
Parts Retail Shops / Wholesalers
End-users
Authorized
Dealers (3S/4S)
Authorized OEM
Parts
Distributors
Branded
Workshops
Uncertified
Independent
Workshops
End Channel Workshops
Certified
Independent
Workshops
Parts Distributors
(e.g. authorized REM parts distributors,
general distributors)
Primary Channel Secondary Channel

In Indonesia, authorized OEM parts distributors are assigned to
distribute OEM genuine parts nationwide through authorized dealers
and parts distributors
OES Channel
OES Parts Manufacturers
Vehicle OEMs
Authorized
Dealers
(2S/3S)
Parts Distributors
(e.g. authorized REM parts distributors,
general distributors)
Parts Retail Shops / Wholesalers
End-users
Uncertified
Independent
Workshops
Branded
Workshops
Primary Channel Secondary Channel
Authorized OEM Parts
Distributors
End Channel Workshops
Certified
Independent
Workshops
Independent Aftermarket Channel
Evolving Channel
Replacement Parts Manufacturers (REMs)
 For OEM genuine parts, authorized
dealers (2S/3S) / sub-dealers (2S/3S) in
dealer groups are the main end-
channel to supply parts to vehicle
owners in the aftersales market
 Another channel for genuine parts
distribution is parts distributors in the
independent aftermarket channel.
OEMs leverage this channel to
penetrate other end-channels (i.e.
workshops)
 For replacement parts manufacturers
(REMs), they closely follow the
traditional practice by distributing the
parts through multi-layered distribution
channels
— Some REMs (e.g. Bosch) actively
explore opportunities to sell to end
channel workshops directly
Sub-dealers
(2S/3S) in
Dealer
Group

Across three countries, 4S/3S is favored by PV owners, due to the
comprehensive and quality services it provides
4S/3S Branded workshop
Certified independent
workshop
Uncertified independent
workshop
China
 Most comprehensive
services from
maintenance to repair
 Availability of OEM
genuine parts
 Consistently high repair
quality
 Experienced
technicians and best
repair capability
 Advanced equipment
for testing and repairs
 Most favored channel
by owners in both
warranty and out of
warranty periods
 Good availability of OEM
genuine parts
 Reasonable price
 Specialized services
 High level of efficiency
 High service quality
 Lower price
 Convenient locations
 Ease of making an appointment
 High level of efficiency
Thailand
 Primarily affiliates of tire
manufacturing companies
 Mostly focus on changing
consumable parts
 Standardized services with
various promotions
 Convenient locations and short
waiting time
 Two major types: car
painting workshops and
bodywork workshops
 Second highest repair
capability after 4S/3S
 More reliable than
uncertified independent
workshops
 Low coverage
 Limited service offerings
compared to other
channels
 Highest geographic
coverage and lowest
price
 Least reliable channel
due to unstandardized
service and parts offering
Indonesia
 Most specialized in one type of
service (e.g. AC repair, tire
changes)
 High availability for specialized
parts types
 Perceived as a fast-growing and
reliable channel
 Most specialized in body
repair
 Fewer than 10% of
workshops can provide a
wide range of service
 Mainly stock parts for body
repair
 Generalist that provides a
wide range of services
(e.g. tune-up to overhaul)
 Cheaper service fees
compared to 4S/3S
 Mostly carry fast moving
parts

To remain competitive in the local market, different value chain
players have been implementing various strategies, which are also
observed in the China market
OEM
 To transform from a manufacturer to a service
provider
 To establish or invest in parts supply centers
and workshop chains
 To optimize the cooperation strategy with parts
suppliers
Parts Distributors
 To expand product portfolios so as to broaden
coverage and aim to establish regional
distributor alliances and partnerships
 To explore and leverage e-commerce for
broader reach
4S Stores
 To achieve more independence from OEMs,
and transform away from a service orientation
to become more customer-centric
 To optimize supply chain cost in order to close
the pricing gap relative to IAM workshops
Independent Channels
 To improve technology, service levels, and
ultimately credibility through establishment of
brand reputation (potentially joining chains /
franchise networks)
 To capitalize on e-commerce by leveraging O2O
service models

OEM parts are preferred by PV owners, primarily due to a perception
of reliable quality and performance
19%
51%
46%
66%
36%
42%
15%
11%
12%
2%
0%
0%
Source: online surveys among out-of-warranty drivers and Key Opinion Leader interviews; Ipsos Business Consulting
OEM unless it’s too expensive
NO PREFERENCE
OEM ONLY
ALWAYS PREFER NON-OEM
PV Owners’ Preference for OEM Parts vs. Non-OEM Parts
 Consumers in three countries have a great preference for genuine parts in both warranty and out of warranty
periods. This tendency is mainly attributed to a perception of higher product quality, suitability and price
assurance.
 This preference for genuine parts has a negative correlation with the car as it ages, which means that customers’
preference for genuine parts could reduce as the car age increases, especially after 5 – 7 years.
 In China, relatively small portions of car owners show an interest in non-OEM parts, which presents a challenge
for non-OEM parts brands to grow in this market.

1. Automotive Industry Overview
2. Understanding the Aftermarket Distribution Channel
3. Car Owners’ Attitudes Toward Parts Origin
4. Implications of ASEAN-China Free Trade Agreement to parts
manufacturers
5. Our Recommendations to Automotive Aftermarket Players

ASEAN-China Free Trade Agreement requires member countries to
reduce tariffs significantly, including tariffs on auto parts
Normal track:
0% - 10% tariff
E.g.
 Textile materials
 Certain types of apparel (e.g. gloves, mittens and mitts)
Differenttracksfortradeingoods
Sensitive track:
Reduce tariff to 0 – 5% by 2018
E.g.
 Toys
 Certain types of apparel (e.g. footwear, ski boots)
 Auto parts (e.g. tires)
Background:
 ASEAN-China Free Trade Agreement (ACFTA) established in 2010
 Sequential approach to reduce tariffs step by step. The average tariff rate on Chinese goods sold in ASEAN countries has
decreased from 12.8% to 0.6%, and tariffs on ASEAN goods sold in China decreased from 9.8% to 0.1%
 China has become ASEAN's largest trading partner and ASEAN has emerged as China's third biggest trading partner
What implications
does this have for
auto parts
manufacturers in
China, Thailand and
Indonesia?
Highly sensitive track:
Tariff is 50%
E.g.
 Tobacco
 Most auto parts (e.g. engines, rear view mirrors, suspension
shock-absorbers)

After the launch of ASEAN-China Free Trade Agreement, the trade
value of auto parts between selected countries increased gradually
Before ACFTA
ACFTA - Now
Future
756
324
202
20152014
+93%
2016
 High tariff among countries
 Thailand and Indonesia
mainly focused on exporting
low value added products to
China, e.g. agricultural
products (Thailand), and
fossil fuel (Indonesia)
 Auto parts trading was
active in grey market
How to increase each
country’s trading and
collaboration within
the auto parts
business?
Auto parts export from Thailand to
China (million USD)

 Insufficient R&D capability and
investment
— Chinese companies currently
invest ~1.4% of total sales revenue
in R&D, as opposed to ~6.5%
among international players
 Lack of core/advanced technology
 Only a limited number of players are able
to compete with international players,
especially players from mature markets
— Only small number of players can
offer system / systematic solutions
for PVs, or focus and perform well
in niche markets
— A large number of players are
small-sized, encountering
problems such as standardized
products, low profit, and low value
added potential
 Over-capacity issues appear in some
auto parts factories
Limited numbers of Chinese auto parts players are active in the
Thailand/Indonesia market, and this situation could be improved
Domestic Parts manufacturers
development in China
Chinese players’ performance in
Thailand and Indonesia
 Limited number of players active in
the Thailand and Indonesia markets,
mainly due to:
— Lack of understanding of the
local market in terms of culture,
business environment and
demand
— Perception that the local
market demand is limited
— Insufficient knowledge of the
benefits brought by the Free
Trade Agreement
 Currently major players from China’s
automotive industry are still auto
OEMs instead of parts manufacturers
— Few OEMs enter new markets
by either exporting vehicles or
building manufacturing plants
in the target countries
How to win in the Thailand and
Indonesia markets
⇨ Understand the local market,
local customer needs, and
expectations toward parts
⇨ Improve parts manufacturers’
awareness of the FTA, and
understanding of the benefits
of the FTA
⇨ Increase exposure in the local
market to build a brand image
among distributors as well as
car owners
⇨ Educate the market to improve
the consumer image where
“Made in China” equals cheap
and poor quality products
⇨ Explore partnership or M&A
opportunities with
aftermarket players to have
direct contact with the end
channels (e.g. branded
workshops, certified
independent workshops)

To compete with foreign players, local players in Thailand should focus
on improving brand awareness, enhancing partnerships with relevant
distributors, and prioritizing high-growth regions
1 2 3Parts Branding Channel Development Geographical Landscape
64% of surveyed customers are
comfortable with using non-OEM
parts, due to:
• Lower product price
• Quality is perceived to be
equivalent to OEM parts
Brand awareness is closely linked to
quality perception
Develop a targeted and relevant value
proposition to ensure brand
awareness in the emerging
independent aftermarket
Workshop equipment suppliers will
benefit from branded service providers
and independent workshop equipment
upgrade demand, while independent
aftermarket parts and accessories
brands will need to closely follow the
development of this channel to benefit
from its development
Track the development of the channel,
identify relevant distributors and
develop partnerships with them
With large populations, low average
household income, low overall vehicle
ownership rates and high second hand
car transactions, the North and
Northeast will be the key regions
outside of Bangkok driving demand for
independent aftermarket services
Prioritize the development of
distribution coverage in regions where
demand growth is expected to be
highest

1 2 3Distribution Optimization Competition in IAM Consumer Purchasing
Challenges faced by parts players:
• Identifying qualified distributors to
partner with
• Tracking and controlling
distributors’ channels for
purchases and sales
Stabilize and identify relevant partners
to become distributors through
standardized screening procedures
Grow modern channels to generate
opportunities for direct selling and
enforcing greater control on product
sales channels
Consumers’ preference shift towards
OEM genuine products
• Perceived to be higher quality and
reliable products
• End channels enjoy higher
margins and turnover
• Localize and re-assess product
offerings
• Redefine price positioning
• Enhance branding and
communications with end
channels and users
Consumers’ level of parts knowledge is
highly influenced by workshop
mechanics
• Mechanics prioritize genuine
products for parts critical to
vehicle engine and usage
• Consumers remain loyal to trusted
and reliable mechanics and
particular brands
• Consumers show minimal
willingness to learn or try new
brands
Target promotional strategies toward
mechanics to ensure that they
recommend specific parts brands
Players in Indonesia should focus on retail channel coverage,
navigating the growth of OEM genuine parts and targeting workshop
mechanics as consumers’ key influencers

Parts manufacturers/distributors, aftermarket service providers and
auto insurance companies are the key stakeholders in the automotive
aftermarket value chain
AUTOMOTIVE VALUE CHAIN
• 1st Tier
• 2nd/ 3rd Tier
• Car
manufacturers
• OEM parts
suppliers
• Authorized
vehicle
dealers
• Independent
vehicle
dealers
• Parts producers/
distributors
• Aftermarket
service
providers
• Auto insurance
companies
• Second-hand
car dealers
• Vehicle
recycling
service
providers
• Car leasing
companies
• Car financing
companies
Raw Material
& Parts
Manufacturing
Financial
Services
Aftermarket
Used Car
Sales
RecyclingNew Car Sales
AUTOMOTIVE AFTERMARKET KEY STAKEHOLDERS
Aftermarket service
• 3S/4S
• Branded workshops
• Independent workshops
⁻ Certified
⁻ Uncertified
Parts distribution
• Parts manufacturers
• Authorized dealers for genuine
parts
• Sole distributors and general
distributors for aftermarket parts
• Parts retail shops
Related services
Auto insurance companies:

M&A Opportunities in The Automotive Aftermarket
Synergy Benefits
‣ Increase credibility and reliability
of independent workshops
‣ Facilitate and provide greater
convenience for aftermarket
service
‣ Boost the growth of the motor
insurance market as a whole
‣ Decrease the operational cost of
both workshops and insurance
companies due to economy of
scale if consolidated
‣ Maximize resources utilization
with well-established sources for
vehicle owners who seek service
from independent workshops
Synergy Benefits
‣ Decrease operational cost of
workshops and increase
profitability due to lower spare
parts cost
‣ Ensure parts availability and
shorten lead time delivery,
thereby improving service and
reducing customers’ waiting time
‣ Increase credibility of workshops
as counterfeit issue is minimized
‣ Increase the growth of the
automotive parts market as a
whole
‣ Match the supply and demand
needs for automotive parts
INDEPENDENT
WORKSHOPS
INSURANCE
COMPANIES
PARTS
DISTRIBUTORS/
MANUFACTURERS

About Ipsos Business Consulting
Ipsos Business Consulting is the specialist consulting division
of Ipsos, which is ranked third in the global research industry.
With a strong presence in 87 countries, Ipsos employs more
than 16,000 people.
We have the ability to conduct consulting engagements in
more than 100 countries. Our team of consultants has been
serving clients worldwide through our 21 consulting "hubs"
since 1994. Our suite of solutions has been developed using
over 20 years of experience working on winning sales and
marketing strategies for developed and emerging markets.
There is no substitute for first-hand knowledge when it comes
to understanding an industry. We draw on the detailed industry
expertise of our consultants, which has accumulated through
practical project execution.
Founded in France in 1975, Ipsos is controlled and managed by
research and consulting professionals. We have built a solid
Group around a multi-specialist positioning. Ipsos is listed on
Eurolist - NYSE-Euronext. The company is part of the SBF 120
and the Mid-60 index and is eligible for the Deferred Settlement
Service (SRD).
ISIN code FR0000073298, Reuters ISOS.PA, Bloomberg IPS:FP
At Ipsos Business Consulting we focus on maintaining our position as
a leading provider of high quality consulting solutions for sales and
marketing professionals. We deliver information, analysis and
recommendations that allow our clients to make smarter decisions, and
to develop and implement winning market strategies.
We believe that our work is important. Security, simplicity, speed and
substance applies to everything we do.
Through specialization, we offer our clients a unique depth of
knowledge and expertise. Learning from different experiences gives us
perspective, inspiring us to boldly call things into question, and to be
creative.
By nurturing a culture of collaboration and curiosity, we attract the
highest caliber of people who have the ability and desire to influence
and shape the future.
Our Solutions:
Go-to-Market Market Sizing
Business Unit Strategy Pricing
Competitive Insights Forecasting
Partner Evaluation Brand Strategy & Value
Innovation Scouting B2B Customer Segmentation
Optimal Channel Strategy Sales Detector

Proven track record in the automotive sector Our Clients
Other Vehicle Related Products
• Tires
• Lubricants
• Accessories
• Paints
• Charging stations
PV OEM
• Luxury vehicles
• Mass market
Vehicle Parts Including
• Filters
• Propeller shaft
• Air bags
• Starters
• Alternators
• Batteries
• Turbocharger
CV OEM Off-Highway
• Excavator
• Bulldozer
• Forklift
• Dump truck
CV OEM On-highway (Truck and Bus)
• Light duty
• Medium duty
• Heavy duty
2 Wheeler, 3 Wheeler
• Luxury motorcycles
• E-Scooters
• ATV / SSV
Other Vehicle Related Services
• Fuel Management Solutions (CV)
• Connected cars - Innovative auto service model
development
• Intellectual property strategy
• Automotive finance and leasing
OUR EXPERTISE AND CAPABILITIES

Regularly published thought leadership showcasing our automotive
industry expertise
PROVEN TRACK RECORD IN THE AUTOMOTIVE SECTOR
TRENDS IN CHINA’S AUTOMOTIVE
COMPONENT MANUFACTURING
INDUSTRY
CONNECTED CARS -
DEVELOPMENT OF ALTERNATIVE
REVENUE STREAMS
TRENDS AND OPPORTUNITIES IN THAILAND
AND INDONESIA’S EMERGING AFTERMARKET
THE BOOM OF
CHINA’S
AUTOMOTIVE
AFTERMARKET IS
IMMINENT

AUSTRALIA
Level 13, 168 Walker Street
North Sydney 2060
NSW, Australia
E. australia.bc@ipsos.com
T. 61 (2) 9900 5100
GREATER CHINA
BEIJING
12th Floor, Union Plaza
No. 20 Chao Wai Avenue
Chaoyang District, 100020
Beijing, China
E. china.bc@ipsos.com
T. 86 (10) 5219 8899
SHANGHAI
31/F Westgate Mall
1038 West Nanjing Road
200041
Shanghai, China
T. 86 (21) 2231 9988
WUHAN
10F HongKong & Macao
Center
118JiangHan Road
HanKou Wuhan, 430014
Wuhan, China
T. 86 (27) 5988 5888
HONG KONG
22/F Leighton Centre
No 77 Leighton Road
Causeway Bay
Hong Kong
E. hongkong.bc@ipsos.com
T. 852 3766 2288
INDIA
MUMBAI
5th, 6th and 7th Floor, Boston
House
Suren Road, Andheri (East) 400-
093
Mumbai, India
E. india.bc@ipsos.com
T. 91 (22) 6620 8000
NEW DELHI
801, 8th Floor, Vipul Square
Sushant Lok, Part 1
Gurgaon-122016, Haryana
E. india.bc@ipsos.com
T. 91 (12) 4469 2400
INDONESIA
Graha Arda, 3rd Floor
Jl. H.R. Rasuna Said Kav B-6,
12910
Kuningan
Jakarta, Indonesia
E. indonesia.bc@ipsos.com
T. 62 (21) 527 7701
JAPAN
Hulic Kamiyacho Building
4-3-13, Toranomon
Minato-ku, 105-0001
Tokyo, Japan
E. japan.bc@ipsos.com
T. 81 (3) 6867 8001
KENYA
Acorn House
97 James Gichuru Road
Lavington
P.O. Box 68230
00200 City Square
Nairobi, Kenya
E. africa.bc@ipsos.com
T. 254 (20) 386 2721-33
MALAYSIA
18th Floor, Menara IGB
No. 2 The Boulevard
Mid Valley City
Lingkaran Syed Putra, 59200
Kuala Lumpur, Malaysia
E. malaysia.bc@ipsos.com
T. 6 (03) 2282 2244
NIGERIA
Block A, Obi Village
Opposite Forte Oil
MM2 Airport Road, Ikeja
Lagos, Nigeria
T. 234 (806) 629 9805
PHILIPPINES
1401-B, One Corporate Centre
Julia Vargas cor. Meralco Ave
Ortigas Center, Pasig City, 1605
Metro Manila, Philippines
E. philippines.bc@ipsos.com
T. 63 (2) 633 3997
SINGAPORE
3 Killiney Road #05-01
Winsland House I, S239519
Singapore
E. singapore.bc@ipsos.com
T. 65 6333 1511
SOUTH AFRICA
Wrigley Field The Campus
57 Sloane Street Bryanston
Johannesburg, South Africa
T. 27 (11) 709 7800
SOUTH KOREA
12th Floor, Korea Economic
Daily Building, 463 Cheongpa-Ro
Jung-Gu 100-791
Seoul, South Korea
E. korea.bc@ipsos.com
T. 82 (2) 6464 5100
THAILAND
21st and 22nd Floor,
Asia Centre Building
173 Sathorn Road South
Khwaeng Tungmahamek
Khet Sathorn 10120
Bangkok, Thailand
E. thailand.bc@ipsos.com
T. 66 (2) 697 0100
UAE
4th Floor, Office No 403
Al Thuraya Tower 1
P.O. Box 500611
Dubai Media City, UAE
E. uae.bc@ipsos.com
T. 971 (4) 4408 980
UK
Minerva House
5 Montague Close
SE1 9AY
London, United Kingdom
E. europe.bc@ipsos.com
T. 44 (20) 3059 5000
USA
Time & Life Building
1271 Avenue of the Americas
15th Floor
New York, NY10020
United States of America
E. us.bc@ipsos.com
T. 1 (212) 265 3200
VIETNAM
Level 9A, Nam A Bank Tower
201-203 CMT8 Street, Ward 4
District 3
HCMC, Vietnam
E. vietnam.bc@ipsos.com
T. 84 (8) 3832 9820
www.ipsosconsulting.com

Opportunities & Challenges in China’s Automotive Aftermarket Compared to Thailand and Indonesia

Empfohlen

Empfohlen

Weitere ähnliche Inhalte

Was ist angesagt?

Was ist angesagt? (20)

Andere mochten auch

Andere mochten auch (14)

Ähnlich wie Opportunities & Challenges in China’s Automotive Aftermarket Compared to Thailand and Indonesia

Ähnlich wie Opportunities & Challenges in China’s Automotive Aftermarket Compared to Thailand and Indonesia (20)

Mehr von Ipsos Business Consulting

Mehr von Ipsos Business Consulting (9)

Kürzlich hochgeladen

Kürzlich hochgeladen (20)

Opportunities & Challenges in China’s Automotive Aftermarket Compared to Thailand and Indonesia