Industry Overview
As the foundation of the auto industry, auto parts are necessary factors to support the sustainable and healthy development of the auto industry. In particular, the current independent development and innovation in the auto industry that is being carried out vigorously and in full swing requires a strong parts system to support it. Vehicle independent brands and technological innovation require parts and components as the foundation, and independent innovation of parts and components has a strong driving force for the development of the vehicle industry. They influence and interact with each other. There is no independent brand of complete vehicles, and a strong parts system. The R&D and innovation capabilities of the company are difficult to burst, and without the support of a strong component system, it will be difficult for independent brands to become bigger and stronger.
According to the "Foresight of China's Auto Parts Manufacturing Industry Market Demand and Investment Forecast Analysis Report" data statistics, from January to December 2005, all auto parts and accessories manufacturing enterprises in China achieved a cumulative industrial output value of 383,800,952,000 yuan, an increase over the same period of the previous year 18.67%; realized cumulative product sales revenue of RMB 375,265,815 thousand, an increase of 20.21% over the same period of the previous year; realized total cumulative profit of RMB 21,462,002 thousand, a decrease of 9.09% over the same period of the previous year.
From January to December 2006, all China's auto parts and accessories manufacturing enterprises achieved a cumulative total industrial output value of 539,704,996,000 yuan, an increase of 34.35% over the same period of the previous year; realized a cumulative product sales income of 527,234,933 thousand yuan, an increase of 34.71% over the same period of the previous year; The total profit realized was RMB 32,605,652,000, an increase of 46.79% over the same period of the previous year; as of the end of December 2006, the number of enterprises above designated size in the industry was 6,142.
From January to November 2007, all China's auto parts and accessories manufacturing enterprises achieved a cumulative total industrial output value of 683,525,503 thousand yuan, an increase of 37.34% over the same period of the previous year; and realized a cumulative product sales income of 663,529,269 thousand yuan, an increase of 37.45 over the same period of the previous year. %; The total realized profit is 48,487,363 thousand yuan, an increase of 68.61% over the same period of the previous year; as of the end of November 2007, the number of enterprises above designated size in the industry was 7,171.
Judging from the industry operation from January to October 2010, the total profit of the auto parts industry is still growing, but the growth rate is slowing down; the import and export volume has also increased, but the imported products are high-profit and high-profit such as gearboxes and engine parts. Value-added, high-tech products are the main products, and the export products are mainly labor-intensive and resource-consuming types with low entry barriers and low profits such as tires and electronic instruments. The downstream vehicle industry has overcapacity for a certain period of time. Although there was an unconventional high-speed growth in 2010 under various national stimulus policies, in 2011, the growth rate of production and sales slowed down and the pressure of overcapacity increased. Affected by this, parts and components The industry may be under pressure from greater profits in the second half of the year. The main problem facing the industry is that the upstream and downstream are squeezed, and the industry is facing double pressure. The parts industry is a squeezed industry and lacks bargaining power for the upstream and downstream. The upstream raw materials are mainly steel, rubber, plastics, fabrics, etc., whose prices are ultimately determined by the prices of bulk commodities such as steel, petroleum, and natural rubber. Auto parts companies can only avoid risks by judging the trend of upstream commodity prices. At the same time, downstream vehicle manufacturers are mostly large enterprises and groups, and they are in a strong position in the interest game with parts manufacturers, and they have strong negotiating capabilities and can pass cost pressures to the auto parts industry. Therefore, parts are actually at two ends. Squeezed "sandwich" sandwich status.
In 2011, China's auto parts sales output value exceeded RMB 2 trillion, and will continue to increase by more than 20% in the next few years. It is estimated that by 2015, the scale output value of China's auto parts industry can reach RMB 2.5 trillion. Since 2002, China's automobile production and sales have maintained rapid growth for nearly 10 years, and the automobile industry has developed into a pillar industry of the Chinese economy. In 2009, China's automobile production and sales both exceeded 13 million, ranking first in the world. By 2011, China's automobile production and sales exceeded 19 million, ranking first in the world for three consecutive years.
As competition in the auto parts industry continues to intensify, mergers and acquisitions and capital operations among large auto parts companies are becoming more frequent. Excellent domestic auto parts manufacturers are paying more and more attention to the research of the industry market, especially the development environment and In-depth study of changes in customer demand trends. Because of this, a large number of excellent domestic auto parts brands have risen rapidly and have gradually become leaders in the auto parts industry!
Domestically-made parts are mainly used in self-owned brand cars, and the market share is low. According to data from the Ministry of Commerce, foreign capital controls most of the market share of auto parts. Foreign-funded auto parts manufacturers account for more than 75% of the entire industry. Among these foreign-funded suppliers, sole proprietorships account for 55%, and Sino-foreign joint ventures account for 45%. Local parts are mainly used in self-owned brand cars and have a low market share. In the high-tech fields such as automotive electronics and engine parts, the market share of foreign capital is as high as 90%. Among them, the output of core components such as electronic fuel injection systems, engine management systems, ABS and airbags, automatic transmissions, etc. The proportions are 100%, 100% and 91%, 69% respectively.
It is becoming a global trend for auto parts manufacturers to break away from vehicle companies and form specialized parts groups. Almost all internationally renowned automobile and parts companies have established joint ventures or wholly-owned enterprises in China, and more than 1,000 technological joint ventures have been introduced. A number of domestic auto and parts companies with high technology content, good efficiency and large scale have gradually grown up. As the international automobile industry begins to implement the "global procurement" strategy of parts and components and the international multinational automobile companies implement the localization strategy, there will be a huge gap in parts and accessories in the domestic market. By 2010, the domestic output value of China's auto parts will reach around 700 billion yuan.
In a certain period of time, despite the overall global economic decline, according to actual procurement practices in the past four to five years, the results of Chinese procurement are not as optimistic as a large number of companies have predicted. Almost 80% of companies have not reached their procurement volume and procurement decline. Cost target. With the appreciation of the renminbi and the decline in export tax rebate rates, China's procurement is facing greater pressure, and international buyers have simultaneously shifted their sights to Vietnam, India, Thailand, Australia and other countries and regions. From the above point of view, China's auto parts industry will continue to accelerate growth under the current financial crisis.