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Chinese Automotive Suppliers Confront Growing Competition
Consolidation and Innovation by China Automotive Systems, Wonder Auto Technology, Yanfeng Visteon and Others
Boston, MA - March 1, 2011 – The Strategy Analytics report "Consolidation and Innovation: Increasing Competition Affecting Chinese Automotive Suppliers," shows that while car makers in China have increased production and will more than double their electronic system demand to $25.9 billion in 2011, many Chinese suppliers will still have difficulty maintaining their competitiveness and profitability without changes to their strategies.
Rising costs in raw materials and labor have squeezed profit margins in the supply of mechanical and basic electrical parts, while there are thousands of smaller Chinese companies that are competing with lower prices. Some foreign competitors, experienced with automotive technology, have already won supply contracts from Chinese OEMS.
Kevin Mak, analyst in the Automotive Electronics Service at Strategy Analytics, said, "While there are more cars assembled in China than anywhere else, the move among automotive OEMs is not on the volume produced but on the increasing level of technology consumers demand. Vendors must respond in order to avoid losing future business and existing market share. Investment is needed to service this increasing level of car production and demand for new technology, which will also result in consolidation in the Chinese auto industry."
"The state-owned, formerly-integrated supply companies are steadily entering the stock market in order to fund increased production capacity and bring about innovation. Better management will bring greater efficiency."
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