Development status and characteristics of overseas auto parts markets in 2023

First of all, the development of the overseas auto parts market is always in a state of growth. With the rapid development of the global automobile industry, the demand in the auto parts market is also increasing. Currently, Europe and North America are the world’s largest auto parts markets, followed by the Asia-Pacific region. Among them, the North American market is famous for its huge car ownership and high level of car culture, while the European market is famous for its high-end car brands and high-quality auto parts. The market in the Asia-Pacific region is mainly driven by the automobile market in developing countries.

Secondly, the overseas auto parts market is characterized by tight supply and demand, which is reflected in fierce market competition and large price fluctuations. Participating in the market competition are automobile manufacturers, auto parts manufacturers and auto parts dealers, and many parties are constantly seeking innovation to improve their competitiveness.

In addition, overseas auto parts markets are also affected by policies and regulations. Government regulations and policies can affect the supply and demand in the auto parts market, thereby affecting market prices. For example, the European market has higher requirements for environmental protection and safety, so the threshold for entering the market is high. At the same time, automobile manufacturers and parts manufacturers in the market have high quality control costs.

Development and trends of Chinese auto parts companies in overseas markets

“Auto parts going overseas” will take off in 2023, and the development and trends of Chinese auto parts companies in overseas markets have attracted much attention. What are their developments and trends?

It can be seen that the current development situation of Chinese auto parts companies in overseas markets is relatively optimistic. According to statistics, Chinese auto parts companies have entered more than 100 countries and regions around the world, involving automobiles, machinery, electronics and other fields. For example: Fuyao Glass Industry Group Co., Ltd., Wanxiang Group Co., Ltd., Shanghai Volkswagen Auto Parts Co., Ltd., etc. In developed countries such as Europe and the United States, Chinese auto parts companies have become one of the important suppliers of the local automobile manufacturing industry. In some emerging markets, Chinese auto parts companies are also rising rapidly and become an important force in the local automobile manufacturing industry, especially in countries and regions along the “One Belt, One Road” initiative. Chinese auto parts companies are strengthening cooperation with local companies to improve the adaptability and adaptability of their products. Competitiveness. According to data from the General Administration of Customs compiled by the China Association of Automobile Manufacturers, from January to November 2023, the cumulative value of China’s exports of automotive goods to the “Belt and Road” countries reached US$106.83 billion, a year-on-year increase of 44.9%, accounting for 55.8% of the total exports of automotive goods.

In addition, as Chinese auto parts companies continue to improve their technical level and product quality, they are also currently entering the high-end market. “Brand rise” has become one of the overseas development strategies of most Chinese auto parts companies. At the same time, building overseas warehouses has also become a development direction explored by China’s auto parts chain platforms.