In the first three quarters of 2012, there was a negative growth of 1% in imported parts. The growth rate of export auto parts still maintains a high level of 13%, and the import and export of auto parts has become different. However, the growth rate of auto parts exports slowed down in the third quarter, only 3%, and the trend of parts exports and vehicle exports was quite different.

Statistics show that the total import of auto parts in the first three quarters of this year was 24.149 billion US dollars, down 0.95% year-on-year. Among the imported auto parts, the engine import value was 1.603 billion US dollars, down 33.6% year-on-year; the other zero-sector import value was 22.546 billion US dollars, an increase of 2.64%.

The data shows that the total export volume of auto parts in the first three quarters of this year was US$437.67 billion, a year-on-year increase of 12.79%. Among the export auto parts, the engine export value was 1.151 billion US dollars, down 12.51% year-on-year; the other spare parts export value was 42.616 billion US dollars, an increase of 13.68%.

This year, the importing countries of auto parts are still concentrated in Japan, Germany and South Korea. The three countries account for 76% of the total imports, and imports from Germany and the Czech Republic are growing rapidly. This year, the import growth rate of China's auto parts sub-projects is basically lower than the export growth rate. In particular, the import of engines has dropped significantly, reflecting the fact that overseas parts and components companies have built domestic factories and other measures to promote localization.

In 2012, the export of auto parts was mainly from the United States, Japan, and South Korea, and the top three exports accounted for 41% of the total. That is to say, the most risky export of auto parts is the United States, and other countries have relatively small trade deficit losses relative to China. In particular, the overall trade deficit for cars in Europe is severe. In the first three quarters, auto parts exports accounted for 81% of the total import and export of automobile products, and exports were still the bulk of the parts industry, with a surplus of 19.6 billion US dollars. Among them, the biggest surplus project is automobile tires, the surplus reached 10 billion US dollars, and the car wheel also reached a surplus of 3.2 billion US dollars, which also led to the US double-reverse investigation. The export trade of automotive electronics has a large surplus, reaching $6 billion. The export of the largest car tires and wheels is still not affected by the European and American sanctions, indicating that our energy-consuming enterprises are very tenacious.

Due to the influx of foreign capital in recent years, the export capacity of auto parts has been expanded. The manufacturing costs of auto parts in developed countries are high, and multinational companies are shifting labor-intensive products in the auto parts industry to low-cost countries and regions.

The competitive advantage of low labor costs in China has become the best choice for foreign parts suppliers to transfer production bases to China. Many foreign auto parts companies have established joint ventures or wholly-owned factories in China.

On the one hand, the introduction and absorption of production technology and processing capacity of large multinational companies have strengthened the export competitiveness of China's auto parts. On the other hand, the global procurement system of multinational companies has provided an export platform for domestic auto parts and expanded the scale of export. At the same time, it has restricted the import of auto parts, which has caused the current situation of import and export of auto parts.

However, relevant statistics show that as the growth rate of auto parts exports has slowed down since the third quarter, the growth of auto parts exports will slow down to below 10% this year.

In the future, China's macroeconomic external factors will undergo some changes that are worthy of attention; raw material prices will rise and export advantages will decline. Lower raw material prices and labor costs are inherent advantages of China's auto and parts exports. In the near term, raw materials continue to increase in price, and the appreciation of the renminbi has brought about an increase in exchange-exchange costs, resulting in a reduction in the profit margin of auto parts exports.

Therefore, in the absence of core competitiveness of domestic auto parts, the price of raw materials generally rises, the production cost of enterprises rises, and the cost pressure of the industry increases, which will bring no small challenge to the auto parts export market in the future.

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