Tell us something we dont know – Chinese spare parts biz is on fire!
From Shanghai Daily:
The auto parts makers sales doubled to four million yuan (US$519,000) last year on the strength of more exports.
We expect revenue could rise another 50 percent this year as overseas car makers have more interest in sourcing mainstream lineups because the savings could be huge even on a single model, Wang said.
Haitian Shikai, which produces compressors, evaporators, condensers and expansion valves, is among the growing number of domestic component makers for small cars that are eager to grab a bigger slice of booming auto parts exports.
Sourcing parts made in China is a new trend for many overseas car makers after they shifted production to developing countries when intensified market competition and price increases for raw materials started putting pressure on profits.
The United States, the worlds largest auto market, imported US$6.9 billion worth of auto parts from China last year, an increase of 28.1 percent from 2005, according to the United States Department of Commerce.