According to the business office of the Chinese Embassy in Austria, China's auto exports have been developing rapidly, and auto parts exports have also shown a high growth momentum.
Although China's spare parts production is still not advanced enough, it will develop into an important industry in the future. Recently, KPMG, a multinational consultancy, came to the conclusion based on market research. Hans-Dieter Krauss, director of the company's automotive business division, predicted that in the near future, China will become the "big player" in the world's automotive spare parts and repair parts market.
In 2004, the export value of China's auto parts was 5.6 billion U.S. dollars, which was more than five times that of five years ago. China has now become the fifth largest supplier of auto parts to the United States. China's auto parts manufacturers are playing an increasingly important role in the global economic value creation chain. However, many world-renowned auto parts manufacturers are concentrating on R&D and promotion of brands, and placing less technologically-intensive and labor-intensive production links in China. This situation should not be overlooked in China.
With a long-term perspective, KPMG believes that the development of the Chinese automotive industry has brought many business opportunities. From the financing of cars to the parking business, there is a lot of room for market development. At present, world-famous car brands such as GM, Volkswagen, DaimlerChrysler, and Toyota have all "emphasized" this "cake" and have begun to act.