In 2013, China produced 22.11 million vehicles, marking an increase of 14.8% year-over-year (y/y) and the ninth consecutive year of positive growth. The country also marked a record high sales volume of 21.69 million units. Sales in 2014 are estimated to grow by 8 to 10% y/y, leading to 23.74 to 24.18 million units (announced by the China Association of Automobile Manufacturers (CAAM) in late January 2014).
Japanese automakers also intend to expand their sales. In 2014, Toyota, Nissan, and Honda aim, respectively, at an y/y increase of 20% to 1.1 million units, 11% to 1.4 million units, and 18% to over 0.9 million units. To cope with this increasing demand, Japanese auto parts suppliers have also been expanding their businesses and production capacities in China.
This report summarizes activities of Japanese parts suppliers in eastern and central China between July 2013 and late February 2014. Japanese suppliers in China (part 2) will focus on southern, northern and northeastern regions.
Related Japanese Suppliers Reports:
Latin America (part 1): New plants in Mexico (Mar 2014)
Latin America (Part 2): Trends in Brazil and Mexico (Mar 2014)
Thailand (1) (Jan. 2014)
Thailand (2) (Jan. 2014)
ASEAN (Nov. 2013)
Russia and Eastern Europe (Oct. 2013)
India (Sep. 2013)
Northern/Northeastern/Southwestern China (Aug. 2013)
Southern and Central China (Aug. 2013)
Eastern China (Jul. 2013)
the US (Jul. 2013)