The long-term road map of auto parts industry seeking reform

Industry organization ACMA stated that the auto parts industry is seeking a "breath", introducing new regulations and launching a long-term roadmap for the industry's new regulations, in order to prepare accordingly for the transformation that requires substantial investment.

 

The auto industry, which accounts for about 2.3% of China’s GDP, has been struggling recently because of the long-term downturn of the entire auto industry and the epidemic situation that has brought supply chain issues and affected productivity. The Indian Auto Parts Manufacturers Association stated that the challenging business environment limits the industry’s ability to further invest in any new regulations. During the transition from BS-IV to BS-VI, the automotive industry invested nearly 80,000 rupees, of which 40%-50% came from the auto parts industry. Looking into the future, such regulations will continue to be introduced, so we ask for a breathing time for the industry to readjust which regulations are necessary.