According to customs data compiled by the China Association of Automobile Manufacturers, China’s automotive exports reached USD 84.314 billion in 2014, up 7.08% year on year. Component exports accounted for USD 64.617 billion, an increase of 8.02%, representing 76.64% of total automotive exports. Complete vehicles accounted for only 15.23%. Component exports were therefore the primary driver of automotive export growth.

All four main component groups—engines; vehicle parts, accessories and bodies; tyres; and other automotive products—recorded growth. Engine exports reached 3.6622 million units and USD 1.680 billion. Parts, accessories and bodies reached USD 35.359 billion, while tyre and other automotive product exports reached USD 15.151 billion and USD 12.427 billion respectively.

Parts, accessories and bodies continued to represent roughly half of component exports, but the product mix and value added changed little. Among seven key product categories, electronic fuel-injection systems declined sharply, while seat belts, drive axles and shock absorbers delivered double-digit growth.