The analysis of auto parts industry points out that the auto industry is a multi-level integrated industry, which can reflect the economic development and operation of the country to a certain extent. According to the statistics of China Automobile Association, China's automobile production and sales were growing from 2011 to 2018. In 2019, China's automobile output was 27.809 million and automobile sales was 28.081 million, ranking first in the world for ten consecutive years.
Independent parts are relatively backward and have a large growth space. The current situation of the auto parts industry points out that in 2019, the main business income of China's auto parts industry reached 3.88 trillion yuan, with a year-on-year increase of 4.9%, and the total profit was 301.26 billion yuan, with a year-on-year increase of 5.4%. The market space is huge. In 2019, the global automobile sales volume was 92.65 million, and China's automobile sales volume was 28.88 million, accounting for about one third. It is the world's largest automobile market. However, China has no large domestic auto parts enterprises that can match it.
Geographically, parts enterprises in Jiangsu, Zhejiang, Shanghai and other places have a solid foundation for development, accounting for more than 60%. Enterprises in Henan, Shaanxi, Sichuan and other places have sprung up. On the whole, the parts industry is gradually advancing to the central and western regions, the number of enterprises accounts for more than 20%, and the parts enterprises in the central and western regions continue to rise.
In terms of sales revenue, the top three regions of China's auto parts manufacturing product sales revenue in 2019 were Jiangsu Province, Zhejiang Province and Shanghai, accounting for 11.93%, 9.88% and 9.12% of the industry's revenue respectively. The total sales revenue of the top ten provinces accounts for 72.43% of the whole industry, indicating that the regional development concentration of China's auto parts manufacturing industry is high.
The current situation of auto parts industry points out that China's auto parts are mainly exported to countries and regions with developed auto industry such as the United States, Japan and the European Union, and are gradually developing emerging markets such as Latin America. From 2009 to 2014, China's auto parts export increased rapidly, from US $25.474 billion in 2009 to US $64.615 billion in 2014, with an average annual compound growth rate of 20.49%. Since 2018, China's auto parts export has declined slightly, but it still reached US $60.25 billion in 2019.
