In the first three quarters of 2012, there was a negative growth of 1% for imported parts and components ; while the growth rate of Auto Parts for export remained at a stable level of around 13%, and the import and export of automobile parts and components showed differentiation. However, the growth rate of auto parts exports slowed down in the third quarter, only 3%, and there was a clear contrast between the export of auto parts and auto parts and the export of auto parts.
Statistics show that the total imports of auto parts in the first three quarters of this year were 24.149 billion U.S. dollars, a year-on-year decrease of 0.95%. Of the imported auto parts, the engine import amount was 1.603 billion U.S. dollars, a year-on-year decrease of 33.6%; the value of other zero-usage imports was 22.546 billion U.S. dollars, an increase of 2.64% year-on-year. In the first three quarters of this year, the total auto parts exports were USD 43.767 billion, an increase of 12.79% year-on-year. Among the export auto parts, the engine export amounted to 1.151 billion U.S. dollars, a year-on-year decrease of 12.51%; the value of other zero-point attachments was 42.616 billion U.S. dollars, a year-on-year increase of 13.68%.
This year, the importing countries of auto parts are still concentrated in Japan, Germany and South Korea. The three countries accounted for 76% of the total imports, and imports from Germany and the Czech Republic have increased rapidly. This year, the growth rate of China's auto parts sub-projects is basically lower than the export growth rate. In particular, the engine's imports have fallen significantly, reflecting the fact that overseas parts and components companies are building domestic factories to accelerate the acceleration of domestic production.
In 2012, the exporter of auto parts was mainly the United States, Japan, and South Korea, which accounted for 41% of the export share. The biggest risk of auto parts exports is the United States. Other countries have a relatively small trade deficit with China, and the overall automobile trade deficit against Europe is serious. In the first three quarters, auto parts exports accounted for 81% of the total import and export volume of automotive products. Exports are still the bulk of the parts and components industry, with a surplus of 19.6 billion U.S. dollars. Among them, the biggest surplus item is car tires , with a surplus of US$10 billion. The automobile wheels also achieved a surplus of US$3.2 billion, which also led to “double counter investigations†in the United States. The export trade surplus of automotive electronics is relatively large, reaching 6 billion U.S. dollars.
In recent years, the influx of foreign capital has expanded the export capacity of auto parts. The cost of manufacturing automotive parts in developed countries is high, and multinational companies are shifting labor-intensive products in the auto parts industry to low-cost countries and regions. The competitive advantage of low labor costs in China has become the best choice for overseas component suppliers to transfer production bases to China. Many foreign auto parts companies go to China for joint ventures or wholly-owned factories. On the one hand, the introduction and absorption of production technology and processing capacity of large multinational companies have strengthened the competitiveness of Chinese auto parts exports; on the other hand, the global procurement system of multinational companies has provided an export platform for domestic auto parts and expanded the scale of foreign exports. At the same time, it has restricted the import of auto parts and caused the current situation in which auto parts are being imported and exported.
However, relevant statistics show that as the growth rate of auto parts exports slowed down from the third quarter, the growth of auto parts exports will slow down to below 10% this year. In the future, external factors of China’s macroeconomic environment will undergo some changes that are worthy of attention; lower raw material prices and labor costs are the inherent advantages of China’s auto and auto parts exports, while the prices of raw materials continue to increase recently, and at the same time, the cost of foreign exchange exchange through RMB appreciation increases. The resulting reduction in the profit rate of auto parts exports. Therefore, domestic auto parts and components do not have the core competitiveness, raw material market prices generally rise, corporate production costs increase, industry cost pressures increase, will have a significant challenge for the future auto parts export market.
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