Automobile parts exports increased by 60% year-on-year

According to a report from Xinhua News Agency, exports of auto parts from Tianjin Port between January and July this year reached $589 million, marking a 61.1% increase compared to the same period last year. Industry experts attribute this surge to several factors, including growing foreign investment in the sector, improved domestic production capabilities, and competitive pricing, all of which have significantly boosted export volumes. Data from Tianjin Customs reveals that general trade exports of auto parts and components totaled $300 million during the first seven months of the year, up 53.8%, and accounted for 51.3% of the total value of Tianjin Port's exports. Meanwhile, processing trade exports reached $278 million, rising by 70%, and represented 47.2% of the total. The primary markets for these exports are the United States, Japan, and the European Union, which together accounted for 76.6% of the total value. Foreign-invested enterprises played a major role in the growth, with auto parts exports valued at $451 million—up 69.3% year-on-year—and making up 76.5% of the total. Analysts from Tianjin Customs note that the steady increase in foreign investment in China’s auto parts industry has been a key driver behind the rapid export growth. As global automakers shift production to China, many international suppliers have followed, either by setting up factories or collaborating with local manufacturers, thereby accelerating the development of China’s automotive parts sector. In addition, the price competitiveness of Chinese auto parts has also contributed to the rise in exports. Domestic manufacturers now produce high-quality components such as axles, frames, steering systems, brakes, electronics, interior trims, safety systems, and exhaust systems that meet international standards. These products are often priced 10%-30% lower than similar foreign alternatives, making them attractive to overseas buyers. Industry insiders suggest that Chinese auto parts are particularly strong in the European market. Even when factoring in shipping costs, their prices remain more favorable than those of imported equivalents. However, despite the positive momentum, challenges still exist. Domestic manufacturers lack advanced R&D capabilities for high-value and high-tech products, and the absence of key technologies continues to hinder further growth. Moreover, recent fluctuations in exchange rates have increased export costs and squeezed profit margins for many companies. While the export boom is encouraging, addressing these underlying issues will be crucial for sustaining long-term success in the global auto parts market.

Gear

Gear,Bevel Gear Motor,Bevel Gear For Industry,Special Gears High Quality

Taizhou Hongxiang Power Machinery Co.,Ltd , https://www.hxcamshaft.com