The rise of auto parts industry

- Jul 04, 2019-

It is understood that a number of Chinese export-oriented enterprises with auto parts exports are emerging. In 2009, the total export volume of China's complete vehicles and parts and components reached US$19.7 billion.

Among them, auto parts, body and accessories accounted for 43% of related products, up 51% year-on-year. Due to rising raw material prices, the profit of the whole vehicle has declined, and the overall level of China's parts and components industry has improved, reaching international standards. International auto giants have procured Chinese-made auto parts.

As of the end of 2009, at least 70% of the world's top 100 auto parts suppliers have operations in China. Although the situation is gratifying, in the long run, auto parts companies should strengthen technological innovation, improve research and development, and strive to create high value-added, high-tech products. For example, engines, batteries, air conditioning compression, car navigation systems, shock absorbers, brakes and other automotive products have higher added value and should have a lot to offer.