What is the prospect of auto parts
In recent years, with the support of national major projects and technical projects, China's auto parts industry has continuously strengthened technological research and innovation system construction through independent research and development, joint venture and cooperation and the introduction of technical personnel, and gradually achieved breakthroughs in core technologies in some fields. The independent innovation system of Chinese brand auto parts has initially taken shape. Through many years of development, most of the Chinese brand parts enterprises have strong production and manufacturing capacity and certain market competitiveness. The enterprise system management and modular supply capacity have been improved. Through the multi-level development of differentiation and the promotion of concentric diversification, the scale has been rapidly expanded, and a synergistic effect has been formed among various sub industries. Domestic auto parts enterprises have already possessed the industrialization ability of passenger vehicle and commercial vehicle parts systems, parts and subsystems, and realized the comprehensive coverage of products. After years of development, China has formed six major auto parts industrial clusters in Northeast China, Beijing Tianjin Hebei, central China, Southwest China, Pearl River Delta and Yangtze River Delta. With the increasing downward pressure on the auto industry, the overall development of the auto parts market is good, showing a medium and high-speed development trend. Under the trend of globalization, domestic auto parts enterprises adopt such methods as mergers and acquisitions, overseas mergers and acquisitions, equity joint ventures, joint ventures and cooperation to accelerate the expansion and integration into the world parts procurement system and go global.
In 2019, the pressure on China's automobile industry was further increased, and the production and sales volume and the main economic performance indicators of the industry showed negative growth. Up to now, the top three provinces in terms of the number of enterprises in China's automobile industry chain are Guangdong, Jiangsu and Shandong, of which Guangdong ranks (44) with a number advantage of about 67000 related enterprises. In 2019, the production and sales of automobiles were 25.721 million and 25.769 million, respectively, down 7.5% and 8.2% year-on-year. The decline in production and sales was 4.2 and 5.4 percentage points higher than that in 2018. The production and sales volume continued to rank first in the world. The pressure of vehicle production and sales was transmitted to the parts industry, and the growth of the revenue and profit level of the parts manufacturers stagnated. At present, the global automobile industry is affected by the economic downturn, the trend of new four modernizations of automobiles, and its own development cycle, and the growth rate of total production and sales has slowed down.
As of June 2019, in the first half of 2019, the number of cars in China reached 250 million, and the number of private cars reached 198 million. As of June, the number of cars had reached 250 million, accounting for 74.58% of the total number of motor vehicles, including 198 million private cars (small passenger cars and mini passenger cars registered in the name of individuals). With the continuous development of the new energy vehicle industry and the rapid growth of its ownership, China's new energy vehicle parts industry has ushered in a period of rapid development.
The performance of the automobile sector in 2019 was poor. Even though the valuation of the whole vehicle gradually recovered, it was still at a historical low; The valuation of parts is better than that of the whole vehicle, but it still hovers at the historical bottom; From the perspective of industry profitability, the profit margin of the automobile manufacturing industry continued to decline due to the downturn of the automobile market, but the range was narrowed. The recovery of foreign capital allocation shows good expectations for China's automobile market.
Electric vehicle parts mainly include electric drive system, power supply system and auxiliary system. Among them, the electric drive system can basically be divided into two types: the motor central drive system and the electric wheel drive system, including electronic controller, power converter, motor, mechanical transmission device, wheel and other core components. The central drive system of the motor includes a motor, a reducer, a differential, a mechanical transmission device and wheels; The power supply system mainly provides power supply, including power supply, energy management system and charger; The auxiliary system includes auxiliary power source, power steering system, navigation system, air conditioner, lighting and defrosting device, wiper and radio, etc.