Analysis of Market Status and Development Trends in China's Automotive Parts Industry
As the foundation for the development of the automotive industry, the automotive parts industry has become a solid support for helping China's independent automotive industry grow bigger, stronger, and better.
Publish Time:
2021-06-13
China's auto parts industry enters a high-quality development stage, with industrial transformation imminent
The auto parts industry, as the foundation of the automotive industry's development, has become a solid support for the growth and improvement of China's independent auto industry. For 60 years, China's auto parts industry has grown steadily, experiencing rapid development driven by reform and opening up, joint ventures and cooperation, and market dividends from explosive domestic production and sales. The industry has entered a high-quality development stage, and the transformation of the parts industry is imminent.
1. Slowdown in China's auto sales
After nearly two decades of development, China's auto industry has shifted from a period of rapid growth to a stage of high-quality development. The growth rate of China's auto sales showed a sharp decline in 2010, and the sales growth rate failed to rebound in the following years. In 2018, affected by the overall cooling of the macroeconomic environment, the global auto industry was affected to varying degrees, and China's auto sales growth rate showed negative growth for the first time. As of August 2019, China's auto sales reached 16.104 million units, a year-on-year decrease of 6.94%.
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