Language

News

Auto parts exports saw steady growth in the first half of this year.

Release time:

2017-08-18

National customs statistics on automobile imports and exports show that in the first half of 2014, the value of imported automobiles was US\$480.10 billion, a year-on-year increase of 28.28%; the value of exported automobiles was US\$400.23 billion, a year-on-year increase of 7.33%. Among them, imports of auto parts reached US\$177.26 billion, a year-on-year increase of 14.81%, an increase of 11.68 percentage points compared to the same period last year; cumulative exports of auto parts reached US\$309.13 billion, a year-on-year increase of 9.78%, a slight increase compared to the same period last year. Data shows that the trade surplus of auto parts reached US\$131.87 billion, but automobiles

　　National customs statistics on the import and export of automotive products show that in the first half of 2014, the import value of automotive products was US\$48.01 billion, a year-on-year increase of 28.28%; the export value was US\$40.02 billion, a year-on-year increase of 7.33%. Among them, the import of auto parts was US\$17.73 billion, a year-on-year increase of 14.81%, an increase of 11.68 percentage points compared to the same period last year; the cumulative export of auto parts was US\$30.91 billion, a year-on-year increase of 9.78%, and the growth rate increased compared to the same period last year.

　　From the data, the auto parts trade surplus reached US\$13.19 billion, but the automotive product trade deficit was nearly US\$8 billion. It can be seen that independent vehicles not only experienced 11 consecutive months of declining sales domestically, but their export performance was also unsatisfactory, but the export value of auto parts increased steadily in the first half of this year.

　　Import value of three categories of products decreased

　　According to the import and export trend chart of auto parts in the first half of 2014, the growth rate of three major categories, namely seat belts, drive axles, and automotive tires, all exceeded 20%, with seat belts reaching 28%. The import value of key parts such as transmissions and engines was relatively large, especially the rapid growth in transmission imports, mainly due to the increasing number of independent brand auto companies gradually adopting imported transmissions. This year, the sales of joint venture brand cars in China have increased significantly, and auto parts related to safety are mainly purchased from abroad.

　　In the first half of this year, the year-on-year growth rate of China's auto parts import business was relatively large. The total import value decreased year-on-year for three major categories of auto parts: engines, electronic fuel injection devices, and inner tubes, by 7.43%, 21.15%, and 73.95%, respectively. Foreign-funded brand cars that generally set up joint ventures in China have engine plants to support the complete vehicles. Electronic fuel injection technology is generally controlled by a few foreign auto parts companies such as Bosch. These auto parts companies are becoming increasingly localized in China, and most of them have their own production bases, which can basically meet local supply. Tireless cars are the trend of car development, and the future demand for inner tubes will decrease, and the import and export value will also decrease year by year. In the detailed list of auto parts imports in the first half of 2014, 366,600 engines were imported, down 4.06% year-on-year, with an import value of US\$1.04 billion, down 7.43% year-on-year; the import value of auto parts, accessories, and bodies was US\$14.92 billion, up 16.03% year-on-year; the import value of car and motorcycle tires was US\$0.35 billion, up 20.51% year-on-year; and the import value of other automotive-related goods was US\$1.41 billion, up 21.51% year-on-year.

　　Low export volume of key components

　　The auto part with the largest import and export surplus is tires, with a surplus of US\$6.76 billion. In the first half of this year, the largest import and export deficit was transmissions, reaching US\$4.75 billion, with slight deficits in engines, airbags, and drive axles. Transmissions, engines, airbags, and drive axles are all core auto parts, generally controlled by foreign companies. China mainly produces auto parts with lower technological content, with fewer companies mastering core technologies, resulting in lower exports than imports.

　　In addition, the exports of electronic fuel injection devices and inner tubes both declined year-on-year, with the former declining by more than 20% and the latter declining by about 9%. Compared with the same period last year, the export value of engines and car and motorcycle tires ended its decline and showed a slight increase, while the growth rate of the other two categories increased. In the first half of the year, 1.7111 million engines were exported, a year-on-year increase of 6.51%, with a cumulative export value of US\$815 million, a year-on-year increase of 8.36%; the export value of auto parts, accessories, and bodies was US\$16.83 billion, a year-on-year increase of 14.40%; the export value of car and motorcycle tires was US\$7.35 billion, a year-on-year increase of 4.59%; and the export value of other automotive-related goods was US\$5.92 billion, a year-on-year increase of 4.43%.

　　Import and export surplus will further increase

　　Overall, the import and export performance of China's auto parts in the first half of 2014 was better than expected. From the import data, the recent growth of China's auto parts imports has been significant. Since this year, joint venture brands have continued to strengthen, and the demand for key parts related to safety has increased, but parts such as engines have gradually achieved localization, and the growth rate of imports has decreased year by year.

　　In the first half of this year, transmission imports remained a major focus, but with more and more joint venture automakers establishing transmission production bases in China, transmission imports will also decrease in the future. A large number of Chinese auto parts companies have gone global and entered the automotive aftermarket in countries and regions such as Europe and the United States. On the one hand, the mature aftermarket in Europe and the United States has a strong demand for low-priced Chinese auto parts; on the other hand, the domestic auto market is fiercely competitive, and the profit margin for auto suppliers providing parts to domestic automakers is shrinking.