Automotive industry: vehicle exports will increase

The recovery and growth of export markets are of great significance for the balanced and sustainable development of China's auto industry. In the past few years, China’s auto exports have grown at an average annual rate of nearly 50%, and exports account for more than 10% of China’s total automobile consumption. This is an important component of China’s auto industry. Since the second half of 2008, affected by the financial crisis, the export market has continued to slump and has experienced serious declines, which contrasts sharply with domestic demand. Recently, the Ministry of Commerce, the National Development and Reform Commission, the Ministry of Industry and Information Technology, the Ministry of Finance, the General Administration of Customs and the General Administration of Quality Supervision, Inspection and Quarantine jointly issued the "Opinions on Promoting the Sustainable and Healthy Development of China's Automobile Products Exports." The introduction of this opinion and subsequent related measures will help promote the recovery and growth of China’s auto exports, which is of great significance to the balanced and sustainable development of China’s auto industry.

The "Opinions" put forward the adjustment and transformation of the development goals and export structure of China's auto exports in the next decade. From 2009 to 2011, it strives to achieve an average annual growth of 10%; by 2015, exports will reach 85 billion U.S. dollars, with an average annual growth of 20%; by 2020, it will achieve a strategic target of 10% of the total global auto product trade volume. At the same time, it actively promoted the overall export structure of automobile vehicles from commercial vehicles such as trucks and chassis to the equal emphasis on economical cars, passenger cars for large and medium-sized passenger cars, and commercial vehicles, and promoted the export of parts and components to be mainly based on machinery. The transformation of electromechanical and electronic products is a major change; the vehicle export market has gradually shifted from the low-end and middle-end markets of developing countries to the mid-to-high-end markets; the parts and components export market has shifted from the aftermarket and maintenance markets to the transition to the global supply chain market of multinational companies. .

Products that are in line with the adjustment of export structure and have comparative advantages will gain greater room for growth in the export market in the future. China's large and medium-sized passenger cars, heavy trucks, light trucks, and economical cars have comparative advantages, with exports accounting for 14%, 11%, 11%, and 5% of their annual sales. Among the parts and components products, automotive tires, wheels, glass, automotive electronics and instrumentation have comparative advantages, and some products have entered the supporting systems of global automotive manufacturers; the advantages of engine, engine components, transmissions and other core components are not obvious, but In recent years, the degree of foreign dependence has been decreasing. For specific companies, Yutong Bus and Jinlong Automobile in large and medium-sized buses, Chery, Geely, Great Wall, etc. in economical cars, heavy-duty trucks and Shaanxi Automobile in heavy trucks, Fuyao Glass and Zhongding shares in parts and components companies. The company's products such as Wanfeng Aowei and Yinlun shares are in line with future export structural adjustments and have good long-term growth potential.