With the continuous development of Internet, especially mobile Internet technology, automobiles have also begun to run onto the Internet, taxi software, post-market O2O projects, and even intelligent transportation systems, all of which are spreading rapidly with unstoppable trends. In March 2015, Alibaba and SAIC Motor Co., Ltd. jointly established a one-billion-dollar internet automobile fund for the construction of an Internet vehicle development and operation platform. On June 24, Minister of Transport Yang Chuantang stated that it is necessary to promote the implementation of 'Internet + Convenient Transportation' and 'Internet + Efficient Logistics' The action plan encourages and supports various market-based travel and logistics information services based on mobile Internet.
According to statistics, of the existing car ownership in China, less than 10% of cars have car-connected devices installed. Traffic data, after-sales insurance, car maintenance and repair, car owners’ socialization and many other areas all require seamless connection between cars and the Internet. These opportunities that were born on the road have attracted well-known venture capitalists who have poured into this field. Companies including Dachen Venture Capital, IDG Capital and others have long been on the road for a long time. They have been on the line for less than a year and received 10 million dollars. The projects are already commonplace.
Zengshan Venture Capital Partners Guan Dengfeng: Those pits in the car market
One of the logic behind the boom in the auto aftermarket is that China’s current car market is about 130 to 140 million units. Second, China’s auto consumption is also starting to escalate. This has given rise to a very popular auto aftermarket opportunity. Investment opportunities.
I have excerpted the business models of the post-market based Internet innovation in the past few years. These are: 1. P2P rental, which is the concept of sharing economy; 2. O2O parking, everyone thinks this is a high frequency, Just need cutting; 3, used car trading, whether this is a real demand or a mature market, the current situation in the United States, we have always claimed that China's current second-hand car ratio is 2:1, the United States is 3: 4, there is very Large space for improvement, so there are a large number of startup companies and capital gathered here; 4, car wash O2O, entrepreneurial projects that combine the so-called high-frequency needs in the aftermarket and the concept of the most popular O2O in the past year; 5 , On-site maintenance, out of the maintenance needs, of course, some people are also playing the idea of several giants to do refueling. Generally speaking, refueling in the country is a monopoly industry, but some entrepreneurs do; 6, information platform, such as check Violation as a cut-in service.
After the recent cooling of the capital market, news of the closure or transformation of startups has been revealed in these fields. From our perspective, first, the capital market will eliminate some business models or projects. This is normal. Second, from the transition or closure, we can reflect on what is the pit of the project running? How do we avoid in the future? Which may be purely an accidental situation in the capital market changes? It is clear that these are helpful to entrepreneurs and investors.
The first thing is to compare the large pits, the so-called high-frequency hitting low frequencies. Of course, it is typical that in the field of traffic, the whole field of travel should be eaten after the success of the drop. In addition, the concept of parking or car washing is relatively high-frequency, But in fact, in my opinion, these two areas are also pits. Because the premise of high-frequency to low-frequency services is standardized services, but there are many non-standard, post-market service areas, the process of artificial trust. .
With regard to the trickling mode, it itself requires that a platform gathers more vehicle and user matching efficiency. However, in the daily car scene, the user needs to find a point of trust, and later needs can be gathered in this place. It is essential. The application requirements are discretized, so it is rather biased to make the platform bigger under the conditions of user demand discretization.
The second pit is a frenzied subsidy. Last year's Didi mode used a subsidy to pull users, set up a platform, and kill others. There are several big logics in this one that make this possible. One logic is super. Strong self-compatibility, quickness and believing come to an end because there is a huge 'dry up' behind them to support their money-burning, ordinary companies can't do it. Now that the capital market has changed, many investors will consider companies to do How do we see valid users retain money? If money violates the law of economic value, it is a big problem. However, many entrepreneurs or entrepreneurial projects are still immersed in the false prosperity of frenzied subsidies, but they do not look at the real thing behind them. Jingdong's strategy of burning money is correct. The key is to really establish the value after the money is burned out, establish a huge logistics system and efficiently match orders. Before the Chinese retail chain was moved five to six times, but Jingdong only needs to move. 2 to 3 times. Similarly, the crazy subsidies are more typical of drip. After tying up the market, he quickly merged and monopolized the industries in China.
Third, we need to eliminate the intermediate links and shorten the transaction chain. This is the efficiency of the Internet. The most typical car industry is the P2P rental car and the trading of second-hand cars. Essentially, such transactions are the most efficient, but they actually sink. , Many plausible phenomena are often found. Regardless of whether they are P2P or used car transactions, there are many problems. For example, the handling of used car transactions, and the perception of employers, this can not be replaced by the Internet. Often another thing will happen. , The platform that connects buyers and sellers seems to have destroyed the middle link. Actually, the cattle did everything in this matter. In this case, it depends on whether they really improved efficiency. P2P car rental also has problems. First of all, car rental is not high frequency. Secondly, even if there is a large system or strict management, many times they do not dare to rent a high-priced car. Put the user's good car on your platform to ensure Vehicle safety is very difficult.
The fourth, user experience, saving user time, a big pit happened in the refueling session. I talked about several refueling projects. They think that it's inconvenient to refuel now, you have to queue up to drive in, part of it is to wait for fuel to refuel your vehicle, etc. There are also some people who have finished adding invoices and there is a need to pay for the cash. Now make a tool, first look at the gas station around, and secondly, write the amount of refueling. After the car has arrived, , Scan QR code WeChat to pay for it, so that after filling in, the invoice will be sent out, which will enhance the experience. I started to think this thing is very high frequency, and the transaction volume is very large. But in fact this thing looked at It's good, but afterwards, if you think about it incorrectly, in fact, the WeChat payment is basically better. From the high-frequency scene, whether it can be extended to other car markets, the service of the car is still very professional, and the user is hard to recognize. Know to cheer up here, also recommend a friend to this platform, or to wash your car to buy insurance here, so this is a big pit.
Fifth, the competition between severity and mode is also a pit. There are many information platforms that are just needed. In addition, there are many online reviews and shopping guides. We find that there are many problems. For example, offline shops are essentially for their own interests. The deepest pursuit, unless you can strictly control the user experience, or bad user experience will come, if good, he went, the user is to find a place in the market trust, so this model is difficult to retain.
Then, with respect to the automotive aftermarket, the more positive view is:
First, in most areas of the aftermarket, the Internet is not a road, but rather, the Internet can find some opportunities to use tool tools to increase efficiency. But if it is entirely based on this level, put the existing methods in the post market and The business model is overturned and it is relatively difficult.
Second, the greatest opportunity for advancement in the automotive industry comes from technology, not business model, maintenance at home or car washing, and no need for on-site maintenance if pure electric vehicles are used.
Third, technological advancement requires long-term accumulation. Insights into the industry chain and the status quo cannot be simply stuck to the concept. This kind of entrepreneurship is more valuable!
Summary: Now the entire automotive industry is in its infancy. With regard to maintenance and repair, the investment value is very high and there are many opportunities. However, depending on which pits each project has, we should invest in companies that we believe have great potential for future growth. Opportunities in the financial sector are also very high. Of course, the risks are also very high. The investment value of smart devices is also very high. Overall, the investment opportunities in the Internet auto industry are hot, because the investment value in each field is very high, but only investment opportunities. It is less risky. It is also a risky or minor problem. Investment is nothing more than bypassing these links.
