Investment Rating - The report rates the new energy vehicle after-sales service industry as a high-growth sector with significant investment opportunities due to rapid market expansion and technological advancements [4]. Core Insights - The new energy vehicle after-sales service industry encompasses full lifecycle services, with its importance increasing alongside market expansion. Technological innovations are driving service model upgrades, such as Tesla's OTA updates and NIO's battery swap system. The market is experiencing rapid growth due to the increase in vehicle ownership and changes in maintenance demand structure. Comprehensive policies are empowering the industry, pushing for higher market concentration as regulations require automakers to establish their own after-sales systems, which pressures small and medium enterprises [4][20][21]. Summary by Sections Industry Definition - The new energy vehicle after-sales service refers to a range of services including maintenance, repair, parts supply, charging infrastructure construction and operation, and battery recycling throughout the vehicle's lifecycle [5]. Service Content Classification - Services can be categorized into maintenance and repair, charging services, battery swap services, roadside assistance, and remote services [6][7][8]. Service Object Classification - The industry can be segmented into battery repair, motor repair, electronic control system repair, and charging pile repair [10][11][12][13][14]. Service Operation Model Classification - The service operation models include self-operated services and outsourced services, with self-operated models enhancing customer loyalty and brand trust, while outsourced models reduce operational costs and improve service efficiency [16][17]. Industry Characteristics - Key characteristics include technological innovation leading service model upgrades, rapid market growth, significant structural changes, and comprehensive policy support [18]. Development History - The industry has evolved through three stages: initial phase (2010-2015), rapid development phase (2016-2020), and maturity phase (2021-present), with each stage marked by different challenges and advancements [22][24][27]. Industry Scale - The market size of the new energy vehicle after-sales service industry grew from 1.063 billion to 16.249 billion from 2019 to 2024, with a compound annual growth rate of 72.53%. It is projected to reach 150.195 billion by 2029, growing at a rate of 45.4% [45][46]. Competitive Landscape - The competitive landscape is characterized by a tiered structure, with leading companies like BYD, NIO, and CATL in the first tier, followed by Tesla and Xpeng in the second tier, and third-tier players like Tuhu and JD Yiche [53][54]. The industry is witnessing a shift towards a "manufacturer-led + differentiated third-party" competition model, with various players entering the market [58].

Core Viewpoint - The article emphasizes the need to improve the repairability of electric vehicles, establish transparent repair standards, expand authorization scope, and develop second-hand vehicle residual value management to truly lower ownership costs and enhance convenience, thereby promoting consumption and creating a sustainable automotive ecosystem [1][5]. Group 1: Industry Challenges - The after-sales repair sector for electric vehicles has revealed significant vulnerabilities, with multiple unauthorized repair shops facing lawsuits from automakers over software and data ownership issues [2]. - Automakers impose restrictions on repair choices through user agreements, leading to higher maintenance costs for consumers who feel they lack the right to choose where to repair their vehicles [2][3]. - The monopolistic behavior of automakers in the after-sales service sector is a point of contention, raising questions about market dominance and consumer rights [2][3]. Group 2: Market Dynamics - The combination of technological barriers and automaker operational needs has led to a monopolistic control over after-sales services, with many automakers expanding their repair scope to include non-critical repairs that could be handled by more cost-effective service providers [3]. - Tesla stands out as an exception in the market, having a different approach to after-sales service due to its early market entry and design that lowers repair complexity [3]. Group 3: Market Growth and Regulatory Environment - By the end of 2024, the number of electric vehicles in China is projected to reach 31.4 million, accounting for 8.9% of the total vehicle population, indicating that the industry has moved past its initial growth phase [4]. - The need for a comprehensive and diverse after-sales service system is critical for the continued growth of the electric vehicle sector, as highlighted by regulatory guidance from the Ministry of Transport and other agencies [4]. Group 4: Future Directions - The article calls for electric vehicle manufacturers to align with consumer demands for safety, affordability, and convenience by enhancing repairability, establishing public repair standards, and improving second-hand vehicle management [5]. - There are signs of progress, with companies like BYD beginning to open up repair permissions and share maintenance information, suggesting a potential shift towards a more collaborative and innovative after-sales service model [5].

Core Viewpoint - The controversy in the after-sales service of new energy vehicles (NEVs) highlights the industry's vulnerabilities, particularly regarding software and data ownership, leading to legal disputes and customer dissatisfaction [1][2][3] Group 1: Legal Disputes and Customer Rights - Several unauthorized repair shops have been sued by major automakers like NIO, BYD, and Xiaopeng for repairing their NEVs, raising questions about customer rights to choose repair services [1][2] - The lawsuits focus on the ownership of software and data, with automakers imposing restrictions that limit customers' options for maintenance and repair, resulting in higher costs [1][2] Group 2: Market Dynamics and Operational Needs - The formation of this "soft spot" in the industry is attributed to both objective and subjective factors, including technological barriers and the operational needs of automakers to generate revenue from after-sales services [2][3] - The price war in the NEV market has led automakers to rely on after-sales services for survival, creating a monopolistic environment in the repair sector [2] Group 3: Industry Growth and Service Gaps - By the end of 2024, the number of NEVs in China is expected to reach 31.4 million, accounting for 8.9% of the total vehicle population, indicating significant growth in the sector [3] - There is a pressing need for a comprehensive and diverse after-sales service system to support the growing NEV market, as current service gaps could hinder future development [3][4] Group 4: Recommendations for Improvement - To meet customer demands for safety, affordability, and convenience, NEV manufacturers should enhance vehicle repairability, establish transparent repair standards, and expand authorized repair options [4] - Some companies, like BYD, have begun to relax repair restrictions, signaling a potential shift towards a more open and competitive after-sales service environment [4]