China's auto parts hollowing and marginalization trend is obvious

At this stage, there are more than 100,000 auto parts and components industries in China's major rivers, and about 13,000 medium- and large-scale enterprises. Last year, according to statistics, the national industrial output value of auto parts enterprises was approximately 3.8 trillion yuan, and the main business income reached 3.5 trillion yuan. The average profit rate of the entire industry was 6% to 8%, which was only about half that of foreign-funded enterprises. This shows that When the ratio of shares is invested in the same cost, the net profits earned by foreign-funded enterprises are more than twice that of domestic-funded enterprises. Although China's auto parts companies have large bases, key high-margin core components are monopolized by foreign-funded enterprises, and some high-precision auto parts and components are still dependent on imports. In particular, these years, China’s auto emissions requirements have become stricter and more stringent. With the continuous escalation of standards, the dependency on foreign investment in post-processing electronic control has almost reached 100%.

China once imagined that the introduction of foreign-funded auto parts enterprises and China Auto Parts Autonomous Corporation through a “market-for-technology” approach would indeed result in a little management experience and technology, but in the case of foreign companies monopolizing the core technologies, There is very little high-level technology to learn. From its own point of view, this is due to the characteristics of domestic auto parts companies that are “scattered, small, poor, and slow”, in particular, the lack of key core technologies, the inherent shortcomings in the industry chain, and the lack of comprehensive strength of enterprises, upstream and downstream Insufficient support, poor brand premium and a series of comprehensive factors.

Although the body size of China's auto parts industry has been continuously expanding since the reform and opening up, domestic auto parts companies are far less than foreign-funded enterprises, and most of them are homogenous, vicious competition, price competition, and lack of investment in enterprise innovation, and product core competition. Weak force. In addition, with the exception of the R&D investment, the impact of foreign technical barriers is that some key parts and components are still supplied by foreign-funded enterprises. Otherwise, vehicles cannot be installed. Such as in the engine power composition, automatic transmission, electronic appliances, electrical systems, general products, in the fuel supply system, ignition systems, energy-specific parts and other key, high-precision, high value-added and high-profit parts products Basically all are blank, both controlled by foreign capital supply, almost all rely on imports, the reality that the core components rely on imports of this dilemma to the overall automotive industry and parts and components of the company's profitability space has been squeezed to the minimum.

For example, in the gas and diesel engine supply chain of light vehicles, all of them are monopolized by Japan's Mitsubishi and Isuzu. Japan Mitsubishi almost monopolizes the supply of gasoline engines for all self-owned brands that cannot produce their own engines. In addition, almost all of the diesel engines used in pickup trucks, light trucks, and light passengers in China are purchased from Isuzu or using Isuzu technology; heavy-duty diesel engines are monopolized by Cummins Inc. Bosch in Germany, Delphi in the United States, and Denso's Japan Denso basically monopolized all of China's EFI market share. Chinese consumers will contribute thousands or tens of thousands of yuan in net profits to each of the above three foreign companies for each car they buy.

Cummins Corporation of the United States has monopolized the high-end heavy-duty diesel engine market in China. Federal-Mogul and Cummins Inc. have become recipients of orders for ignition systems for most domestic engine companies such as Xichai, Yuchai, Weichai, and Heavy Duty Truck. The two companies in Eaton, USA and ZF in Germany almost monopolized the Chinese heavy-duty transmission market. The Bosch diesel common rail system and post-processing system almost monopolized the Chinese commercial vehicle market. At the same time, multinational component giants represented by Delphi, Visteon (formerly Ford Components Division) and Faurecia of France designed and manufactured interior and exterior components for most of the domestic passenger car manufacturers. . Toyota's Aisin Company also almost monopolized and monopolized half of the passenger car and some commercial vehicle markets in China.

Automotive aftermarket is also a place where foreign companies are active

In particular, in recent years, under the increasingly serious situation of large-scale poisonous and horrible weather across the country, under the pressure of environmental protection and energy and emission regulations, the requirements of China's fuel limits and emission regulations have become increasingly stringent. In order to meet the national, national, and soon to implement the national six emissions standards, product upgrades forced commercial vehicles to take the high-end line, while the high-end is not only reflected in the engine and other key components, but also need other components to Match. As a result, the autonomous commercial vehicle brands that have led to the gradual adoption of high-end products are increasingly supporting foreign investment in “high, large, high, and fine” components, resulting in the high-pressure pump of diesel engines used in most commercial vehicles in China. It is Bosch or Delphi's solution to purchase on rails and aftertreatment systems. Due to the upgrading of product technology at the present stage, the use of high-end commercial vehicles, Cummins, Bosch, China, WABCO, Schaeffler, Eaton, Federal-Mogul, Honeywell, Valeo, Johnson and other foreign supplier of spare parts in China The pace of development has outperformed Chinese companies.

Obviously, the so-called new high-end trend of China's automobile under the new normal has gradually approached, and the new market form that foreign-funded parts and components companies are expecting has become prominent. This is a good opportunity for them to invade the commercial vehicle market in China. No matter how fierce the competition in China's auto and auto parts markets is, and how profit margins decline, monopolistic foreign investors lurking behind the scenes will snicker for profits. Chinese domestic auto companies are increasingly like Computer City's assembly stores, so long as they can “integrate global vehicle manufacturing resources”, they can pull out a complete vehicle.

It can be seen that at present, the competition in China's key auto parts and accessories market has been concentrated among foreign-funded parts and components companies, and the industrial technology has become hollow. The automakers and parts companies of their own brands have basically been hollowed out, and they have gradually become ruthless. Marginalization. China's auto industry has already become a trend for foreign manufacturers to become overseas.

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