The survey results of the “Top 100 Most Competitive Auto Parts Companies†announced on July 15 showed that the market share of local parts and components suppliers was approaching 50% for the first time and began to compete against foreign brands.
The survey found that more than 80% of auto parts market segments have achieved market share growth for local parts companies. Among them, more than 40% of the market segments, the domestic market share of more than 50%, the most prominent in the field of commercial vehicles and secondary and tertiary components and components.
Local auto parts suppliers have a dominant position in more than ten automotive components such as automobile wheels, glass, batteries, drum brakes, cylinder blocks, filters, pumps, radiators, flywheels, connecting rods, and horns.
The rapid growth of local self-owned brand cars is considered to be the key to the long-term development of auto parts brands. At the same time, with the expansion of domestic production capacity of joint venture manufacturers, more and more local companies have also entered into their supply systems.
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