China is not just the largest car manufacturer in the world: with over 217 million vehicles, there are also a gigantic number of vehicles on the country’s roads. The average age of passenger cars in 2017 was 4.5 years old, with corresponding requirements for spare parts and aftermarket service. For automotive suppliers, China is therefore a promising market in which many are active. German suppliers alone operated a total of 320 locations in China in 2017.
But Chinese suppliers are also on the rise. They came fourth in the international turnover rankings in 2018, displacing South Korean manufacturers. Exports of automotive parts in 2017 totalled more than $560 billion, of which more than 40 billion – or more than 7 per cent – was achieved by Chinese companies.
You might also be interested in reading:
- the guest article by Prof. Christian Sattler on “Alternative drives. Hydrogen is underestimated”
- or the article “Software for the new mobility. How do you feel about Google?”
- “Start-up Avy: Drones for a better world”