Auto Parts Export Information, Come to Understand the Latest Market Dynamics

Auto parts processing is the composition of the whole unit of auto parts processing and service products for auto parts processing. As the foundation of the automobile industry, auto parts are necessary factors to support the sustainable and healthy development of the automobile industry.

In July 2022, China's auto parts exports were 8.94 billion US dollars, an increase of 8.8% month-on-month and 29.5% year-on-year, accounting for 61.4% of the total exports of auto goods. In the main export varieties of auto parts, compared with last month, the export amount of the four categories of auto parts varieties increased, and the growth rate of engines and automobile and motorcycle tires was more obvious; Compared with the same period last year, the four categories of auto parts varieties continued to maintain double-digit rapid growth, of which automobile and motorcycle tires grew faster.

From January to July 2022, China's auto parts exports were 53.03 billion US dollars, an increase of 13.3%, accounting for 62.4% of the total export of auto goods. In the main export varieties of auto parts, compared with the same period last year, the export amount of engines decreased slightly, and the other three categories of auto parts varieties showed growth.

Auto parts industry development prospects

1► The policy is favorable to the development of the industry

In response to the real difficulties faced by auto companies, the relevant departments have acted quickly. A series of industrial policies, such as the Regulations on the Management of Investment in the Automobile Industry, the Strategy for the Innovation and Development of Intelligent Vehicles, and the Development Plan for the New Energy Automobile Industry (2021-2035), have increased support and encouragement for China's automobile and auto parts industry.

Shanghai issued two editions of the Epidemic Prevention and Control Guidelines for Industrial Enterprises to resume work and Production in Shanghai to promote auto parts enterprises to resume logistics and transportation and resume work and production, and help the stable operation of the national auto industry with a chain. The Jiangsu Provincial Department of Industry and Information Technology has set up a special working group for the coordination and supply of the automobile industry chain under the mechanism of the provincial stable key industrial chain supply chain, effectively guaranteeing the supply demand of auto parts inside and outside the province. Zhejiang Provincial Department of Economy and Information Technology quickly launched the emergency working mechanism of automobile industry chain guarantee, and established the "Zhejiang Provincial automobile and parts industry chain supply chain white list" of 214 enterprises.

2► Industrial integration and restructuring were accelerated

With the increasingly fierce competition in the domestic automobile industry, consumers have become more sensitive to the price of automobiles, which puts forward new requirements for the cost control level of auto parts enterprises. Auto parts production has a strong scale and brand economic effect, through large-scale organization of production, transportation can effectively reduce production costs, and enhance product supply ability and brand awareness. Therefore, by integrating internal and external resources, improving the overall scale and reducing production costs will be one of the core competitiveness of auto parts enterprises in the future.

3► Modularity and lightweight drive industrial change

As the competitive pattern of the automobile industry continues to intensify, the requirements of the automobile manufacturing level are getting higher and higher, and new technologies such as "modularity" and "lightweight" are gradually improved and applied to the production link. With the gradual promotion of modular technology, automobile manufacturers will significantly reduce the number of auto parts procurement, while promoting the procurement mode from "single product procurement" to "module procurement". Therefore, a single manufacturer of parts and components products will be integrated in the future or even eliminated by the market. The innovation of the core parts of the car brings development opportunities for the best parts manufacturers, and ultimately helps them achieve corner overtaking.