In 2007, China national macro-economy continued to maintain a rapid growth momentum. A further increase of residents' income and price cut of passenger vehicles stimulated consumption demand to a great extent. Influenced by the factor, the auto industry continued to keep the good momentum of development recorded in the previous year. The year of 2007 witnessed a new record high in both production and consumption of auto, with auto production and consumption reaching 8.88 million units and 8.79 million units respectively.
Rapid development of China's auto industry has provided a broad space for auto parts industry. In recent years, China's auto parts industry has made a great progress and some innovative auto parts producers have grown up rapidly, fully demonstrating the vitality of self-brand producers of auto parts, such as, Wanxiang Group, Shaanxi Fast, Fuyao Glass, Xinyi Glass and Nanjing Aotecar.
With the fast development of auto parts production base in Changchun, capital of Jilin province, Shiyan, a city in Hubei province, Wuhu, a city in Anhui province, Huadu, a city in Guangdong province and Beijing-Tianjin-Hebei Bohai Economic Circle, auto parts industry clusters and regional economic development have undoubtedly become the new hot spots in the recent years. According to incomplete statistics, China has around 1,000 auto parts based industrial parks across the country and among them 100 parks are key regional clusters or development zones.
Export Value of China Auto Parts, 2000-2007
Note: engine and tire not included
Source: China Association of Automobile Manufactures
China's export of auto parts reached CNY14.5 billion in 2007. International auto giants have become more and more confident of the quality of China's auto parts. Sales revenue of China's auto parts producers reached CNY403.5 billion in 2006. It is estimated that the output value of China's auto parts is expected to reach CNY800 billion in 2010.
The data in this report are the authoritative statistics from the China Association of Automobile Manufactures, the Machinery Industry Association, the China Automotive Technology and Research Center, the General Administration of Customs, the State Information Center, and the National Bureau of Statistics. Data about some key auto parts producers are from their financial reports.