·2014 vehicle import and export of spare parts

In 2014, the import and export of automobiles was completed. The data of the General Administration of Customs released recently showed that the import of automobiles (including chassis, the same below) was 1.42 million units, up 19.3% year-on-year; the amount was 60.77 billion US dollars, up 24.4%; the import of auto parts was 32.152 billion yuan. The dollar increased by 12.0%. The export of automobiles was 900,000 units, down 2.7% year-on-year; the amount was 12.621 billion US dollars, up 4.7%; the export value of auto parts was 49.182 billion US dollars, up 8.8%.
The contrast between import and export of automobiles is obvious. The import of whole vehicles is 520,000 higher than that of exports. The import value of the whole vehicle and the export value are only 48.156 billion US dollars. The good news is that parts exports are far better than imports, with a surplus of $17.03 billion.
The monthly cumulative and year-on-year growth rate of imported cars indicates that the market is “high first, then low, and fall quarter by quarter”. Automobile imports from January to March were 310,000 vehicles, an increase of 42.5%; the amount was 13.547 billion US dollars, an increase of 52.0%. From January to June, 690,000 vehicles, an increase of 30.8%; the amount of 30.115 billion US dollars, an increase of 37.6%. From January to September, 1.06 million vehicles, an increase of 26.0%; the amount of 45.559 billion US dollars, an increase of 32.5%. January-December, the beginning of this article has been described. The information on the growth rate of imported car terminal sales by the Imported Car Information Association further verified the trend of customs imports falling “seasonally down”, from 38.3% in March to November-6.5%.
Automobile exports were in a state of negative growth throughout the year, but the decline showed a gradual slowdown. In January-March, exports were 200,000 units, down 9.4%; exports were 2.671 billion US dollars, up 0.9%. Exports from January to June were 430,000 units, down 9.2%; exports amounted to US$3.546 billion, down 1.8%. From January to September, exports reached 670,000 units, down 3.6%; the export value was 9.097 billion US dollars, up 2.2%. January-December, as described at the beginning of this article.
The export of parts and components is more important to the national trade than the export of the whole vehicle. However, if you compare the import and export of parts and components, you are still deeply worried. Although the export value is higher than the import of 17.03 billion US dollars, but the growth rate of parts and exports is lower than imports, which is one of the hidden concerns.
The second worry is that in the current domestic market, foreign capital (of which 55% of wholly foreign-owned enterprises and 45% of joint ventures) control up to 70% of the key auto parts market share, while local parts companies account for 80% of domestic parts companies. Sales are only 20%-25%, and are mainly concentrated in the non-critical parts market. The role and contribution of local parts and components companies in the parts and components export market is difficult to match with the key auto parts market controlled by foreign capital.
According to the quantity and amount of automobile imports and exports in the whole year, the price difference is very different. The average price of export cars was $14,000 per vehicle, while the average price of imported cars was $42,800 per vehicle. Although the volume of imported cars has shifted downwards in recent years, the sales growth of luxury cars and mid-to-high-end cars is still higher than the average increase of the car market. The major exporters of automobiles are concentrated in independent brands such as Chery, Brilliance, Lifan, Beiqi and Geely. Most of the products are compact cars and small cars with displacements of 1.6 liters or less; even Shanghai GM, a large-scale Sino-foreign joint venture car company, The Chevrolet-Sail exit is just a small displacement car. Moreover, these exports of "big bang" enterprises, last year's exports, most of the decline, even double-digit decline.
The new normal of China's economy, parallel imports of cars, forming a new pattern in the imported car market, consumers have more choices for imported cars. Supply is greater than demand, inventory is at a high level, business risks are increased, and dealers will exchange prices, which will be the old way to adapt to the new normal.
Automobile exports are concentrated in Latin America, Russia, the Middle East and North Africa, mainly in the low-end market, with lower thresholds. However, these countries or regions have different degrees of uncertainty in the political economy, and the market risks are large, which is not conducive to the long-term development of China's automobile industry.

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