证券时报·2025-10-30 07:22Core Insights - The article highlights the emergence of a trillion-level after-sales market for electric vehicles as over 3 million new energy vehicles are expected to be out of warranty by 2025, with nearly 20 million power batteries projected to exceed warranty periods in the next eight years [1][21]. Group 1: Market Dynamics - The after-sales market potential is attracting various players, including battery manufacturers, OEMs, and automotive service chains, leading to a competitive landscape for the new energy after-sales market [2]. - The shift in profit from manufacturing to services in the new energy sector raises questions about which players can accurately capture the needs of out-of-warranty users and dominate the value reconstruction [4]. Group 2: Key Players and Strategies - CATL is leveraging its technical authority to expand from B2B to B2C through its "Ningjia Service," which focuses on battery technology and data, offering a unique non-destructive testing technology with over 90% accuracy [5][6]. - BYD is building a closed-loop ecosystem from battery production to dedicated repair centers, ensuring quality control and a unified customer experience, although its model is limited to BYD vehicles [7][8]. - Tuhu focuses on the expanding out-of-warranty vehicle service market, utilizing its extensive network of over 7,200 stores and a digital platform to provide services across all brands and regions [9][10]. Group 3: Challenges and Opportunities - The out-of-warranty market for new energy vehicles presents challenges, including limited third-party service options and a fragmented service landscape, which creates opportunities for large chain platforms with digital capabilities [17][18]. - The county-level market is emerging as a new growth point, with lower operational costs and increasing service demand from out-of-warranty vehicles [19]. - The rapid growth of the market is accompanied by risks, as some independent service providers may lack the necessary expertise and compliance, leading to potential service quality issues [22]. Group 4: Future Outlook - The article suggests that as the industry transitions to a "post-warranty diversified service era," companies that can integrate resources, establish standards, and gain user trust will likely achieve significant value growth [25].