Recently, China's Export of Automotive Parts Exceeded 9% Growth in the First Eight Months of 2023.

2023-10-16 11:54

Recently, China's export of automotive parts exceeded 9% growth in the first eight months of 2023. The 2023 China New Energy Vehicle Components Exchange will be held in Shiyan City, Hubei Province.

This year, China's automobile exports have continued to grow at a high rate. According to the latest data from the General Administration of Customs, China exported 3.216 million vehicles in the first eight months of 2023, with a value of 63.43billion,up697.589 billion worth of automotive parts, with a total export value of $58.563 billion for the first eight months of 2023, up 9.1% year-on-year.

Recently, the Ministry of Industry and Information Technology, the Ministry of Finance, and other seven departments jointly issued the "Work Plan for Stabilizing Auto Industry Growth (2023-2024)". The main goal of this plan is to maintain the stable and positive development trend of China's automobile industry in 2023, with an expected total sales volume of about 27 million vehicles, up about 3% year-on-year. Among them, sales of new energy vehicles are expected to reach about 9 million vehicles, up about 30% year-on-year.

AutoTronics Vice President Shi Yonghong stated that due to the weakening trend of overseas economy and fluctuations in the international financial market, uncertainty in the external environment has increased significantly. However, China's economic recovery is a relative bright spot globally. It is expected that China's export of automotive components will grow by 10% in 2023, and the import decline will narrow to about 10%. The total import and export volume is expected to exceed $120 billion.

Against this backdrop, the 2023 China New Energy Vehicle Components Exchange will be held in Shiyan City, Hubei Province, from September 22 to 24, 2023.

Vice President Shi Yonghong introduced that Shiyan is a leading industrial city in China with automobile and components as its main industries. Shiyan has established the goal of building a "green低碳development demonstration zone" and focuses on developing new energy and intelligent connected vehicles. By accelerating the development of positive R&D for commercial vehicles and transforming components from structural parts to functional parts, Shiyan strives to build an ecosystem for next-generation automobiles with complete components, strong electric vehicle chains, full ranges of commercial vehicles, and multi-variety specialized vehicles.

According to data from the Shiyan Municipal Commerce Bureau, this year Shiyan has exported 45,000 new energy passenger cars, accounting for more than 80% of the total in the province; the export value has reached $3.7 billion, up 51%, accounting for about 60% of new energy passenger cars exported in the province. The export of energy storage batteries has also achieved a "zero breakthrough".

Shiyan Municipal Commerce Lan Xingrong stated that Shiyan is known as the capital of Chinese commercial vehicles and has the only "China" named auto parts city in China. Shiyan has two national automobile and component foreign trade transformation and upgrading bases. Automobile and component products are Shiyan's competitive advantages and leading industries. With the continuous development of high-end, intelligence, and green automobile manufacturing in Shiyan City, products represented by new energy passenger cars have achieved breakneck growth in exports in the past three years.

"The 2023 China New Energy Vehicle Components Exchange has been successfully held for 13 sessions so far. Over 300 projects have been signed during these events with a total contract value exceeding $12 billion. In total, over 500 vehicle and component enterprises, as well as over 2000 auto parts dealers and buyers have participated in these transactions." Shiyan Economic and Technological Development Zone Management Committee Gong Baolin stated that compared to previous events, this year's exhibition has better organization, broader participation, and more focused exhibitions. Participating companies include industry leaders in various fields such as electric motors, storage batteries and new energy resources in addition to core components such as autotronics technology leaders with high added value product varieties.

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