With the rapid growth of China's automobile industry, the development of auto parts has also seen significant progress. Over the years, many parts manufacturers in Guangdong Province have actively engaged in technological research and innovation, achieving some notable results. However, these efforts still fall short of meeting the evolving demands of the vehicle industry. Ye Shengji, deputy secretary-general of the China Association of Automobile Manufacturers, emphasized that the auto parts industry in China is lagging behind, which hinders the overall development of the automotive sector. He called for accelerated growth in the auto parts industry to meet future needs.
**Status: The Auto Parts Industry Faces Challenges**
The "2013 Guangdong Auto Parts Industry Investment Promotion Conference" was held in Zhaoqing, marking a significant step as it was the first time Guangdong approved the construction of six auto parts industrial parks, including Zhaoqing (Gaoyao). At the event, Peng Ping, deputy director of the Guangdong Provincial Economic and Information Technology Committee, highlighted that the current state of the auto parts industry in the province is not optimistic, which negatively impacts the broader automotive sector.
In 2012, Guangdong’s automobile industry generated approximately 387 billion yuan in total output value, ranking third nationally. The province is home to several global automakers such as GAC Toyota, GAC Honda, BYD, and FAW-Volkswagen, creating a diverse mix of European, Japanese, and domestic brands. According to surveys of key enterprises, Guangdong’s auto vehicle output value is expected to reach 800 billion yuan by 2017, nearly triple the 2011 level, potentially making it the top province in the country.
However, despite this success, the auto parts industry lags significantly. In 2012, the output value of auto parts enterprises above the 2,000-yuan threshold reached 40.5 billion yuan, but this is only 0.12 times the total output of the整车 (whole vehicles), indicating a major gap in development that affects the entire industry.
**Outlook: Opportunities and Challenges Ahead**
The auto parts industry is both technology- and capital-intensive, making it a prime target for investment. Experts suggest that supporting local parts companies, fostering industry leaders, and promoting advanced R&D will be crucial for future growth. Additionally, international procurement trends are opening new markets for Guangdong’s auto parts companies. As one of the most cost-effective manufacturing destinations, China is increasingly attracting foreign automakers looking to cut costs. In 2012, China’s auto product trade exceeded $162 billion, with auto parts exports reaching $59.9 billion.
Guangdong, being a major export province, accounted for about $6 billion in auto parts exports in 2012, or 10% of the national total. Looking ahead, leveraging its economic advantages and boosting exports could position Guangdong as a key hub for international auto parts production and trade.
Experts from the Guangdong Modern Automotive Industry Development Research Institute pointed out several strengths of the province’s auto parts industry: the advantage of industrial and electronic integration, strong logistics infrastructure, strategic location for open cooperation, and a large consumer market. Guangdong has consistently ranked first in automobile consumption and is the largest center for auto parts imports and exports in China. In 2012, retail sales of automobiles in the province surpassed 150 billion yuan, accounting for 30% of the total retail sales across all industries. This strong consumer demand provides a solid foundation for continued growth in the auto parts sector.
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