We compiled the 2023 performance of 100 Chinese auto parts manufacturers listed on the Nasdaq in the United States.

As the world’s largest auto market in China moves toward electrification, smartization, and decarbonization, attention is increasingly focused on China’s auto industry policies, technology roadmaps, and the business strategies and development trends of major manufacturers and parts suppliers. 60 companies reported favorable sales and profit growth in 2023. In the Chinese market, the post-Corona market is expected to grow by 2023. In the Chinese market, the transition to a post-Corona economy has led to a normalization of economic activity, which in turn has led to a recovery in demand. As for trends among parts suppliers, they, like complete vehicle manufacturers, are accelerating the development of overseas markets. There is also a move to increase capital to overseas production bases, which may bring about changes in the supply chain.

China aims to achieve automobile sales of 40 million units by 2035 (of which more than 50% will be new energy vehicles (NEVs)), and with the NEV market expected to grow further, foreign automakers, which have lagged behind, are beginning to introduce their products in earnest. In addition to improved driver-assistance performance, an increasing number of models are equipped with digital cockpits featuring new technologies such as voice, gesture operation, and face recognition.

The Chinese government has set the goal of achieving peak CO2 emissions by 2030 and carbon neutrality by 2060. The automotive industry is also moving toward low-carbon production processes, and it is expected that efforts toward carbon neutrality will be in full swing in the future.

We will continue to report on the management strategies, production systems, sales strategies, and alliance trends of China’s major automakers and parts suppliers. We also focus on the NEV market, where China is leading the way, as well as areas such as automated driving and digital cockpits.