China's auto parts production value of 4000 billion yuan parts growth is expected to exceed the entire vehicle

Ministry of Industry and Information Technology on December 1 news, according to incomplete statistics, the current total output value of automotive products in China has exceeded 400 billion yuan, of which exports accounted for 50%.

According to the Ministry of Industry and Information Technology, the overall situation of China's auto parts products exports is good, and the global market share continues to increase, and there is a clear shift in the export of auto parts and components to higher-tech products. In the future, we should pay special attention to and prevent foreign anti-dumping investigations encountered by the auto industry.

Global share continues to increase The export situation of auto parts and components products is good this year. The export value of 8708 auto parts and components of the customs has reached US$9.29 billion, an increase of 21.66% over the same period of last year.

According to the data from the China Association of Automobile Manufacturers, in recent years, the share of China's auto parts products in the global market has continuously increased. Despite experiencing the world financial crisis in 2009, the global export market dropped sharply, and the total export volume of auto parts and components in China has declined, but the decline rate is far less than the global market decline. Therefore, the market share of China's auto parts has increased, from 4.93% in 2008 to 5.74% in 2010.

Among them, some auto parts products show strong market competitiveness. According to the statistics of the customs code of 8708 products, the global market share of major parts and components such as wheels and parts, brakes, friction plates, radiators, and shock absorbers in China has increased year by year, being 25.22%, 11.84%, and 11.94%, respectively. And 10.02%. Among them, the wheel market share ranks first in the world, showing a strong market competitiveness.

In addition, the total output value of automotive products has exceeded 400 billion yuan, and exports account for approximately 50% of the total output value.

However, anti-dumping investigations have also become an important issue facing China's auto industry's exports. The Ministry of Industry and Information Technology indicated that steel wheel products have been repeatedly investigated by the United States in recent years. From the perspective of anti-dumping products in the automotive industry in recent years, products with large global market share have been subject to foreign anti-dumping investigations. Special attention should be paid and prevented.

The growth rate of parts and components will be worth noting that the trend of China's auto parts exports to high-tech products is significant. Among them, the export of steering devices has increased by 37.96% year-on-year, with the highest growth rate; transmissions, power axles, etc. Product exports exceeded 20% year-on-year. In the future, the country will continue to focus on improving the performance, reliability, and longevity of auto parts, and promote the technological level of auto-innovation parts. Exports and import substitution are the market opportunities for parts and components.

In recent years, the country has continuously introduced policies to promote the upgrading of industrial technology and localization of key components. On November 25 this year, the Ministry of Industry and Information Technology issued the “Twelfth Five-Year Development Plan for Machinery Basic Parts, Basic Manufacturing Processes, and Basic Materials Industry”, among which the automobile engine timing chain and the automatic transmission HVAC chain and continuously variable transmission Continuously variable transmission chain, engine fasteners, high-end suspension springs for automotive and construction machinery, valve springs and stabilizer bars, high-precision automotive powder metallurgy parts, powder metallurgy oil-retaining bearings and other mechanical basic parts as development priorities to improve performance and reliability Sex and life are the main directions, and strive to make it reach or approach the international advanced level.

Minsheng Securities research shows that at present, some parts and components companies in China have entered the global vehicle support system, and the export business has become a very important part of the main business income. At the same time, due to the national requirements for the localization rate of joint venture vehicles, the trend of localization of parts and components has been promoted, and a small number of parts and components companies have also possessed certain high-tech product research and development capabilities, and they have acquired import substitution competitiveness.

In 2012, with the return of the cost of raw materials for parts and components companies, the gross profit margin will rebound, and if the export growth trend continues, Minsheng Securities expects the growth rate of auto parts will be higher than the growth rate of the entire vehicle.