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The survey agency conducted in-depth interviews with 50 domestic and foreign auto industry suppliers and automakers in the auto industry and conducted in-depth research on the Chinese auto industry. Although the global auto market is shrinking in 2009, the Chinese market is growing strongly. The products of auto parts companies are always in short supply. Although the prices of steel, copper, rubber and other products are at historically high levels, the low human resource prices in China have just offset, making the profit margin of component companies generally maintained at 8%-10%. Double the average.
"This profit level is also 2 percentage points higher than that of the whole vehicle company. In 2009, the average profit rate of the automobile industry was 6%-8%." ​​Authoritative investigation agency said. In 2009, the profit margin of China's auto parts suppliers was significantly higher than the global counterparts who were still losing money at the time.
“Because of the high market demand in 2009, OEMs are willing to accept prices that are not acceptable at all, and the relationship between supply and demand leads to high profitability of auto parts,†analysts said.
At the same time, several heavyweight local auto parts companies in China have also entered the field of vision. “Some companies such as Wanxiang Group and Weichai Power have already entered the top 100 in the world.â€
Wanxiang Group's 2009 annual report shows that in 2009, the sales revenue was 51.48 billion yuan, an increase of 13%; the profit and tax was 5.72 billion yuan, an increase of 48%.
Lu Guanqiu, Chairman of the Board of Directors of Zhejiang Wanxiang Group, is also very proud of this achievement. "In the most ups and downs of the year, the company has created the best performance and calmly completed the fourth 'Struggle for a decade.' â€
The latest “2010-2015 China Auto Parts Industry Investment Analysis and Prospect Forecast Report†issued by China Investment Consulting Co., Ltd. also coincides with the data conclusions released above.
The report pointed out that the existing strength of the automotive industry and the strong strength of the manufacturing industry are potential advantages for the development of the auto parts industry. China has gradually become the focus of the global automobile and parts giants layout, which will bring continuous and good development opportunities for the development of China's auto parts industry. It is estimated that in 2010, the domestic output value of China's auto parts will reach 700 billion yuan. With the improvement of the global economic situation, China's parts exports will increase by about 10% from 2010 to 2011.
At the same time, the survey report shows that the main challenges facing Chinese auto parts manufacturers in 2010 are: “In addition to rising raw material prices, price pressure from OEMs and price competition between suppliers will increase. The difficulty of operating parts manufacturers."
700 billion: the market value of auto parts is highlighted
A recent research report said that the strong growth of the Chinese market has made the products of auto parts companies always in short supply. In 2009, the profit margin of auto parts enterprises generally remained above 8%-10%. It is twice the global average.