Auto Parts Forming A Professional Parts Group

It is becoming a global trend for auto parts manufacturers to break away from vehicle companies and form specialized parts groups. Almost all internationally renowned automobile and parts companies have established joint ventures or wholly-owned enterprises in China, and more than 1,000 technological joint ventures have been introduced. A number of domestic auto and parts companies with high technology content, good efficiency and large scale have gradually grown up. As the international automobile industry begins to implement the "global procurement" strategy of parts and components and the international multinational automobile companies implement the localization strategy, there will be a huge gap in parts and accessories in the domestic market. By 2010, the domestic output value of China's auto parts will reach around 700 billion yuan.