Spare Parts Manufacturers Facing Challenges

Domestic auto parts manufacturers are facing challenges because of their incompetence in scale and technologies. Auto parts exported directly to foreign automakers dropped significantly this year, and it will take at least one year to restore the export level in this niche to that of the beginning of this year.

However, the demand in the US after-sale service market maintained 5 percent growth in the first half of the year with many people preferring to maintain cars rather than buying new ones. Moreover, the US and the European customers' preference for China-made auto parts, which are more competitive in price, provide much better opportunities for Chinese automakers.

For most local auto parts makers, the impact on exports brought by the demand slowdown of the global market triggered by the financial crisis will be less than that of the RMB appreciation.

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