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future of the automotive parts industry now

  What is the future of the automotive parts industry now

  In the process of development, China's automobile industry has gradually formed six major automobile industry clusters around traditional industrial zones, including Northeast China, Bohai Rim, Yangtze River Delta, Pearl River Delta, Central China, and Southwest China. With the supporting needs of vehicle manufacturing, China's automobile parts industry has also formed corresponding industrial clusters in the aforementioned regions. In the ranking of the world's top 100 automotive parts suppliers, there are no automotive parts suppliers in China, which is not in line with China's position as the world's number one in terms of automotive production and sales. Under the development trend of large-scale, modular and centralized auto parts industry, it has become a major trend for China's auto parts industry to improve the concentration ratio of the auto parts industry market through mergers and acquisitions in the industry and the elimination of enterprises with low technology content and small scale. China's vehicle market has low concentration ratio and fierce competition. This competitive situation has prompted vehicle manufacturers to accelerate the introduction and industrialization of new models and technologies. In this context, technological innovation in automotive component production has become a necessary condition for various automotive component suppliers to meet the competitive needs of vehicle manufacturers.