Rough Rose
Time Is Rough Chinese auto parts?
The Chinese auto parts industry has always made and grown in recent years. However, so far can be against some difficult times due to increases in wages, in local currency and raw material prices.
The Times of yore
Last year in 2007, growth in the China market experienced record growth in terms of both production and consumption of automobiles. As incomes of people so that consumption increased. The year 2007 saw a production of 8.88 million units and consumption 8.79 million units.
In terms of exports to China registered U.S. 2.09 billion U.S. dollars worth of trade. A year before that in 2006, sales revenue of parts manufacturers China Automobile came to the U.S. $ 58.30 million. What is even more intriguing is the fact that the Chinese auto parts production is expected to reach U.S. 115.6 thousand million dollars in 2010.
Much of this growth is attributed to about 1,000 pieces of industrial-oriented cars across the nation, and that about 10% of these are at the first regional development zones and clusters.
The current scenario
This year is being seen as a year of years of correction. According to the National Statistics Bureau, China, the growth rate witnessed during the first two months of 2007 was 90%. However, over the same period this year, has just 37% a difference of 53%. Undoubtedly, the rate of growth has suffered.
The costs of raw materials like oil and aluminum have increased, which in turn, appears to have affected the cost of production. Manufacturers of tires car and tires are more affected as a result. Along similar lines producer of molded plastic parts and automotive accessories for cars have also taken a beating.
For more insights into the Chinese industry of automotive parts, please Follow Me
About the Author
I am a journalist with 7 years of experience. Though, as a professional I’ve reported on myriad topics, my favorites remain to be the medical and the automobile industry. I blog as it gives me a platform to write about my interests.