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Autonomy is the way out for auto parts companies
Foreign-funded auto parts companies, often operating under the guise of "local" entities, now control 80% of the market share. This dominance is driven by a high localization rate in joint ventures, yet most of these suppliers are still foreign-controlled. Some are even shifting their assembly operations overseas, further complicating the local supply chain.
According to data from the China Association of Automobile Manufacturers, over 60% of the top 100 auto parts companies in the country are foreign-owned. This has led to a significant loss of profit margins for domestic automakers, as they rely heavily on imported components. Despite rising localization rates, the environment for independent auto parts companies has become increasingly difficult.
While the policy of localization was intended to boost domestic procurement and support local manufacturers, it has instead benefited foreign firms more. These companies have managed to rebrand their foreign-made parts as "Chinese-made," effectively replacing imports with locally sourced alternatives. For example, FAW-Volkswagen sources around 75% of its parts domestically, mostly through joint venture suppliers.
In 2006, the total assets of China’s auto parts industry reached 422.7 billion yuan, with an industrial output of 415.7 billion yuan and sales revenue of 403.5 billion yuan. However, foreign-invested enterprises dominated the market, holding over 75% of the share, while domestic companies accounted for just 20-25%. This imbalance highlights the challenges faced by independent firms.
Wang Guoqing from Wanxiang Systems noted that in 2006, the company invested over 100 million yuan but only made a profit of 20 million yuan. Its exports account for just 20-30% of total sales, with the majority of revenue still coming from the domestic market. Yet, export profits remain significantly higher than those from local sales.
Chen Guangzu, a member of the China Automobile Industry Advisory Committee, pointed out that few independent auto parts companies can keep up with the R&D pace of vehicle manufacturers. Weak R&D capabilities, low technical content, and reliance on foreign technology continue to hinder their growth. Meanwhile, foreign brands are flooding into the lower-end manufacturing sector, making it even harder for domestic firms to compete.
Quality issues also plague domestic auto parts. Due to technical limitations, many products lack reliability, and joint ventures are hesitant to assign responsibility to unproven suppliers. As a result, independent companies struggle to gain trust and secure long-term contracts.
Industry insiders suggest that independent auto parts companies rarely become first-tier suppliers due to limited capabilities. Recent recalls have also highlighted component-related issues, leading automakers to impose stricter selection criteria. This makes it even harder for domestic firms to break into the mainstream supply chain.
Xinhua analyst Houruo Bing believes that for globally listed models, joint ventures often depend on original suppliers rather than developing local ones. However, for independent automakers, prioritizing quality-assured domestic parts could be a path forward. "Autonomy is the key to self-reliance," he said.
Lu Zhenxin, vice president of Nanjing Automobile Group, added that Chinese auto parts companies lack the ability to develop independently. Compared to developed countries, there's a gap of 10–20 years in system-level and modular components. Over-reliance on foreign technology has eroded domestic innovation. Additionally, vested interests in the auto market have stifled growth, leading to low-level production and crude exports.
To improve, independent auto parts companies must take a step-by-step approach, avoid rushing into exports, and focus on building quality and competitiveness. Only then can they truly contribute to the development of China’s independent automotive industry.
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