China's new car production provides development space for the development of China's new car parts supporting market. At the same time, with the increasing car ownership, the demand for parts for automobile maintenance and refitting is also growing, which promotes the continuous growth of China's auto parts industry.
In 2019, under the influence of the decline of the overall automobile market, the decline of subsidies for new energy vehicles and the gradual rise of emission standards, parts enterprises are facing unprecedented pressure. However, China's auto parts manufacturing industry still shows a stable growth trend. According to the statistics of 13750 auto parts enterprises above Designated Size by China Automobile Industry Association, the annual cumulative main business income was 3.6 trillion yuan, a year-on-year increase of 0.35%. It is preliminarily estimated that the owner's business income of China's auto parts manufacturing will be about 3.74 trillion yuan in 2020.
