March 2009, Germany. “Car suppliers are facing an unprecedented crisis. In the last 3 months, Germany has had 20 suppliers closed down. If there is no significant increase in production by the second half of 2009, more auto suppliers will be unable to repay their debts. And bankruptcy.†Marcus Berret, a partner in the Automotive Industry Center at Roland Berger International Management Consulting, warned global auto suppliers.
March 2009, United States. Due to the serious decline in car sales, new car production has fallen to its lowest level in decades. "Without auto production, suppliers do not have cash inflows, and dozens of suppliers may be on the verge of bankruptcy," said Linda Hasenworks, chairman of the American Parts Suppliers Association.
March 2009, China. Under the pressure of the global economic recession and cost reduction, the world-renowned auto suppliers Magna International, ArvinMeritor, American Axle Manufacturing, Delphi, Johnson Controls, and Tianhe Automotive Group have canceled their participation. Month of Shanghai International Auto Show plan. "I hope to return to this show in the future." However, Delphi said that this is just their wish.
There is no doubt that the global economic crisis that began in 2008 is slamming the global automotive industry. Mature vehicle sales have fallen by 20% to 30%. Even the BRIC countries (Brazil, Russia, India and China) have seen a decline in car sales. In addition, governments of all countries are increasing the "greening" of the automobile industry in an all-round manner, and regulatory authorities have issued regulations on limiting carbon dioxide emissions. “These clauses are squeezing the liquidity of their (component manufacturers), which has weakened their ability to provide funding for restructuring operations that are not needed,†said Thomas K. Stele, managing director of Rothschild Investment Bank. The global auto parts industry is on the verge of crisis, dragged by the sluggish auto industry. During the interview, well-known parts and components companies such as Beitai Entrepreneur (2339.HK), Delphi, and Denso have all described to reporters their difficult situation.
In China’s automobile industry, both Chinese and foreign parties are striving for maximizing their chances of survival. The conflict on the “cross-border†platform is also constantly escalating. Chinese-funded exports are converted to domestic sales and foreign-funded investments are deeper into the secondary and tertiary markets. Diversified supporting VS foreign supply chain expansion.
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