China has a large population base, and with the improvement of people's living standards, more and more people are buying cars. At present, China has surpassed the United States to become the world's largest automobile production and sales country, and the rapid growth of sales for two consecutive years has made China a hot spot in the global automobile and parts industry. From January to October 2010, the proportion of automobile industry output value to industrial output value rebounded to 7.05%, reaching a new high since 2003. The frequency of policies and guidance on the automotive industry has accelerated, and support efforts have been strengthened. China's attention to the automotive industry has reached an unprecedented level. It is expected that in the next 10 years, the automotive industry will become a key regulatory and supportive industry in China, and its importance will continue to be reflected.
And the components have entered a period of rapid growth, with more opportunities than the entire vehicle. With the number of cars in China surpassing the 80 million mark within the year, the annual sales may exceed 18 million, and the importance of automotive components is constantly increasing. The dual demand will drive the industry to maintain an average annual growth rate of around 20% -30%. The cost advantage has led multinational component companies to transfer their industrial bases to China; The competitive strength of China's leading ethnic component enterprises has increased, and the export volume has grown rapidly. International mergers and acquisitions seeking technological upgrading have become the development direction of China's component enterprises; The process of mergers and acquisitions between industries is accelerating, and new component giants are forming. At present, domestic parts manufacturers are most interested in understanding what products automotive parts dealers are most concerned about online, in order to combine their existing production lines to research and develop new products to attract more dealers and expand their sales channels.
The demand for automotive clutch parts, brake system parts, engine parts, and other components is very high. With the continuous expansion of sales scope, the sales quantity of components will reach a new height.