China's automobile is moving, e-commerce gradually become the mainstream sales of auto parts
According to the April 16th news of China Association of Automobile Manufacturers (CAAM), China Association of Automobile Manufacturers(CAAM)statistical analysis, in the first quarter of this year, China's automobile exports 1.324 million vehicles, up 33.2% year-on-year, of which the new energy vehicle exports 307,000 vehicles, an increase of 23.8% year-on-year. In the new energy vehicle exports, pure electric vehicle exports 248,000units, up 7.3% year-on-year, plug-in hybrid vehicle exports 59,000units, up 2.6 times year-on-year.
Monthly automobile export volume and growth rate丨Image source: China Association of Automobile Manufacturers (CAAM)
Chinese cars are racing to go overseas, where are they selling to?
Relevant data from the China Association of Automobile Manufacturers (CAAM)shows that China exported 4.91 million vehicles in 2023, and the top ten export volume markets were Russia.Mexico, Belgium, Australia, the United Kingdom, Saudi Arabia, the Philippines, Thailand, the United Arab Emirates, and Spain.
China's auto export volume market top ten 丨 Data source: China Association of Automobile Manufacturers (CAAM)
With the industry to accelerate overseas corresponding to the bright report card of Chinese auto brands. Public data show that Changan Automobile in the first quarter of this year, Changan independent brand overseas sales of 109,000 units, a year-on-year increase of 80.1%; Chery in the first quarter of this year's cumulative export sales of 253,000 units, a year-on-year increase of 40.9%.
Domestic new energy automobile brands, the same collective "roll" overseas.
The fiery domestic market of Wuling Motors continues to plow the overseas market. In December last year, the new model Wuling Binguo was listed on the Indonesian market, and the opening of the blind order for one month harvested more than 3,000 units of orders, which set a record for pre-sale orders of new energy vehicles in Indonesia.
Wuling Binguol Launch Ceremony in Indonesian Market 丨Photo Source: Wuling Motors
As a global leader in new energy vehicles, BYD's export sales of 97,899 units in the first quarter jumped 152 percent year-on-year. At present, it has not only opened up a network in more than 70 countries and regions and 400 cities around the world, but also begun investing in factories in Brazil, Thailand, Hungary and other overseas regions.
With the technological progress and quality improvement of China's automobile industry as well as the international market's increased recognition of China's automobile brands, the share of China's automobiles in the global market will further expand. As for the development trend of China's auto exports, Zhu Ke, executive director of the China Information Association and founding president of the National Research Institute of New Economy, believes that it will continue to maintain stable growth.
It is foreseeable that in the future, we will see more and more Chinese cars flying on overseas roads.
The growth in automobile exports also means more demand for overseas supporting setups, especially for auto parts related components.
According to the China Association of Automobile Manufacturers organized by the General Administration of Customs data show that in January-February this year, China's auto parts products export amounted to 16.97 billion U.S. dollars, an increase of 14%. Compared with the 33% growth rate of automobile exports in the first quarter of this year, the 14% export growth rate of parts and components products in January-February this year is slightly lower, which also shows that the export of automobile parts and components products still has a huge space.
In fact, in overseas consumer markets, auto parts sales are very optimistic, "auto parts to the sea" is increasingly becoming a cross-border circle of a big buzzword. Information released from Vantage Market Research said that by 2030, the global auto parts market is expected to exceed the trillion dollar mark, reaching $1,103.4 billion, the next seven years will be an exponential growth of 6.8%. According to another data from Guangdong Trade Research Institute, in 2020, the global auto parts aftermarket will be $983 billion and is expected to reach $1,370 billion in 2030.
It can be said that auto parts products have huge development space in the future foreign trade market. However, previously more sales were made through offline channels, and online channels are yet to be developed.
The new crown epidemic has become a turning point to increase the sales channels of auto parts. Industry insiders pointed out that before the epidemic, the online penetration rate of global auto parts was low, with 93% of the volume offline. Affected by the epidemic, huge demand surged to the line, and during 2020-2022, the online penetration rate of auto parts as a whole went up a step, reaching more than 10%.
Relevant institutions predict that the global auto parts e-commerce scale is expected to grow from 47 billion U.S. dollars in 2020 to 292.6 billion U.S. dollars in 2030, with a compound annual growth rate of 20%, and the proportion of e-commerce sales will increase from 4% to 20%. Auto parts products e-commerce to the sea, the prospect is promising.
Article from "Source: CCAA data, cross-border e-commerce Azu, cross-border e-commerce of the sea network, ChangZhuTan cross-border e-commerce integrated service center"
2024 China (Taizhou) Int'lAUTO PARTS &SERVICE SUPPLIESExpo will be held in 2024.9.19-22,Taizhou International Expo Center(558 Xinhai Road, Jiaojiang District, Taizhou)
Three new energy pure tram technology supply chain display, three traditional auto parts product display NIO, Geely, GAC and other dozens of automakers participated.
