More than 70% of China’s auto parts exports are used in automotive aftermarket

Since September last year, China’s auto parts export value has hit a new high for three consecutive months. According to data released by the China Automobile Association, the auto parts export value in November this year was 5.96 billion US dollars, an increase of 7.8% from the previous month, a year-on-year increase of 41.9%.

Yang Fudong, Special Assistant to the Secretary-General of the After-sales Parts Branch of the China Automobile Dealers Association, pointed out that more than 70% of China’s auto parts exports are used in the after-sales market.

The automotive after-sales market has grown very fast in recent years. The increase in car ownership and the increase in car service life will drive the demand for auto parts. The longer the service life of the car, the faster the replacement frequency of auto parts.

Source: Securities Times (Original link not found)

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