Auto market cold auto parts investment
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From high growth, to “blowoutâ€, to rational return, the transformation of the Chinese automobile industry is much faster than that of other manufacturing industries. Despite the downturn in the auto market this year, the parts and components sector in the upper reaches of the automotive industry chain has become a hot spot for investment. A transnational Big Mac team has a passion for investment in China's auto parts market. "China's spare parts market has a broad prospect and China will become the next global procurement base. Now our sales in China account for only 1% of the world, and our goal for the next five years is to increase this ratio to 5%. "On December 15, the world's leading supplier of auto parts to the United States BorgWarner company general manager Tan Yuesheng said. According to reports, the company already has two joint ventures in China, and recently invested 30 million US dollars to start a wholly-owned company. By the end of the year, the company will establish a third factory in Ningbo and is expected to start production by mid-year next year. As a matter of fact, there are not many auto parts multinational companies that have made great efforts in China, such as BorgWarner. According to statistics, China currently has more than 1,200 foreign-invested parts and components companies, including Delphi, Visteon, Germany, Bosch, and a number of major global auto parts suppliers, all of whom have established joint ventures or wholly-owned enterprises in China. "At present, the North American market is our most important sales market. By contrast, I believe that BorgWarner's sales in the Chinese Market will be a profitable growth," said Tan Yuesheng. His words precisely show the original motivation of transnational Big Macs to love China. It is reported that the current average profit of the Chinese auto industry is about 10%, while the global average profit is 5%. This means that although China's average profit level has been declining, there is still considerable profitability compared with the world. In addition, Tan Yuesheng also stated that China's procurement market has great potential, and most of the future procurement will be to supply overseas markets. Of course, in the madness of multinational companies in auto parts influx into China, objectively it will also bring globally leading products, technologies, and industry standards into China, which is bound to promote the overall quality and production scale of local auto parts as soon as possible. .