The financial crisis has exposed China's auto parts industry for many years of "illness"

With the arrival of the financial crisis, the entire national economy has fallen into a state of contraction. As far as the automobile industry is concerned, what we have seen is more vehicle sales and decline in profits, and vehicle manufacturers are also complaining. However, the auto parts industry's state of existence under the financial crisis has received little attention. In particular, the self-owned branded parts and components companies that are not optimistic about their living environment are more difficult to survive under the impact of the financial crisis.

Overall decline in production and sales

According to the data analysis of Hong Rui Xinsi management consulting company, after the impact of the financial crisis, since June 2008, the national total value of auto parts and accessories began to decline all the way, from the peak of the year (June) 4.134 billion yuan The total output value dropped sharply to 2.241 billion yuan in October. The total output value fell by 45.79%, and the average decline rate was 11.45%. The specific data and trends are shown below.

Foreign investment in China's "enclosures"

Looking at the news of the parts and components industry in October, we can see that the Chinese market is becoming a new growth point for profit of foreign-funded parts and components companies. Their expansion in China is also in full swing.

On October 10th, the Continental Group Horse Brand Tire Company laid a groundbreaking ceremony for the construction of its new plant in Hefei. The first-phase construction of the plant covers an area of ​​about 70,000 square meters, and is the first factory built by the company in Asia.

On October 13, BASF announced that it will establish a new Cellasto production facility for polyurethane elastomers in Shanghai in early 2010. It is expected that the annual output can meet the demand for 5 million vehicles. Shanghai has also become the third base for BASF's production and development of polyurethane buffers for vehicles in Guangdong after Nansha in Guangdong and Shinshiro in Japan. Also on October 13th, the Ph.D. Group held a press conference in Beijing. Bosch Chairman Philippe Brunbach stated that Bosch's sales in China are expected to reach 2.3 billion euros (about 25 billion renminbi) this year and 30% for the fourth consecutive year. Increase.

On October 27, the European automotive parts supplier GKN Driveshaft Torque Technology was officially put into operation at a foreign-invested factory in Pudong, Shanghai. In addition to providing transmission differentials, GKN Driveshaft is also developing three all-wheel drive vehicle power transmission (PTU) application systems, and will be put into production in 2009 for OEMs in China and Asia.

On October 29th, the world’s largest R&D center of BorgWarner, the US component giant, officially laid the foundation in Shanghai Zizhu Science Park. The research center is scheduled to be completed by the end of 2009. It mainly develops turbochargers, DCTs (Dual Clutch Transmissions), and four-wheel drive products for the Chinese market, and provides support for its global business. On the same day, global commercial vehicle technology vanguard and first-tier supplier WABCO Automotive Control Systems signed a letter of intent with Guangdong Fuhua Construction Machinery Manufacturing Co., Ltd., the world's largest manufacturer of commercial trailer axles, to be established in Guangdong Province. In Fuzhou, a newly built manufacturing park in Taishan City, a joint venture was established to produce air brake disc brakes. The equity ratio between WABCO and Guangdong Fuhua is 7:3.

In November, December, 2009, ..., the "staking a ride" of foreign giants is still underway.

Reduced profitability of self-owned brands

Looking back at the self-owned branded parts and components enterprises, according to data analysis from the GF Securities R&D center, the listed companies listed in the Shanghai and Shenzhen stock markets can be divided into two sections—auto parts and accessories. Tire rubber plate. (The majority of these listed companies are large-scale self-owned brand component manufacturers.) Among them, 31 listed companies of auto parts and accessories (excluding ST) achieved total revenue of 81.94 billion yuan in the first three quarters, an increase of 21.5% over the same period of the previous year. The net profit realized was 4.845 billion yuan, a year-on-year increase of 11.1%.

The performance in the third quarter was relatively poor, achieving a net profit of only 870 million yuan. In the tire and rubber segment, six companies (out of ST) realized sales revenue of 21.691 billion yuan, an increase of 13.4% year-on-year, and a net profit of 265 million yuan, a decrease of 52.6% year-on-year. Due to the skyrocketing prices of natural rubber in the third quarter, the net profit of the tire rubber segment in the third quarter was a loss of 67 million yuan. From the above analysis, we can see that in the third quarter, the profitability of China's self-owned parts and components enterprises has generally declined, and the rubber industry has incurred losses due to the increase in raw materials prices. The large-scale parts and components companies listed here are still talking about. The market share of small and medium-sized parts and components companies has shrunk by about 30% with the advent of the financial crisis. It can be said that compared with foreign-funded parts and components companies, the days of self-owned brand parts and components companies under the financial crisis are even more difficult.

After the above analysis, it can be found that Cao Yanchun, consultant of Hong Rui Xinsi Parts and Components Industry, believes that the sales of spare parts and components caused by the financial crisis have declined, and the output value has fallen. This is more of a pressure on self-owned parts and components companies, and those foreign companies and joint ventures The ugliness that still passed, the expansion of production continues, and the profitability continues! The crisis has hit the stronger and the weaker and weaker. Under the crisis, the drawbacks of the parts industry “strong foreign capital and self-control” have also been exposed. Exhausted. The cause of this situation is, of course, many and complex. However, when problems are always raised and resolved, the chronic diseases of the parts and components industry are not cured at this time. The auto industry chain's despair is hopeful.