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Parts acquisition or the key to the price reduction of the whole vehicle
Date: 2020-10-20 14:26:03Pageviews: 207

Globalization is the localization of technology. The continuous price cuts of Shanghai Volkswagen and Shanghai GM led by Shanghai Volkswagen and Shanghai GM have triggered price cuts in the domestic auto market. It can be said that the first round of Japanese-based Accord-Passat and Buick Domino price cuts is "an enemy"? This is an upward economic adjustment. The new normal of "no blame" in China.

   In 2014, "Automobile News" selected the global parts supplier Robert Bosch, Denso, and Magna to become the top three in the top 100. The 4th to 10th places are: Continental, Aisin Seiki, Hyundai Mobis, Faurecia, Johnson Controls, ZF and Lear. CITIC Dicastal and Hong Kong Johnson Electric have become two of the top 100 Chinese companies, and Japanese companies occupy 30% of the seats. It is the ranking of technology patents that determines the share position of participating in the global market.

The global component companies have highlighted the internationalization and localization, which has intensified the intensification of the merger capital changes in the rules. In particular, Geely Borui’s penetration of the standards for the use of global component manufacturers’ complete vehicles represents every private enterprise after the acquisition of Volvo. Each part is firm and the details go deep into the direction.

   People generally attribute the price reduction factor to the OEM. But the real price cuts make the first link not due to automakers, but directly from the downward speed of global component factories' localization in the Chinese market. Because they are in control of the pivot switch for the advancement and retreat of core technologies, the long-term interests and particularities of "group heating" maintain their respective market technologies and interest details.

   In 2014, the data released by the General Administration of Customs showed that the import of auto parts was US$32.152 billion, an increase of 12%. Among imported parts, the import value of automatic gearboxes and parts for cars ranks first.

On March 5, the Road Transport Department of the Ministry of Communications disclosed for the first time the fractional ratio coefficients of 18 common models. Among them, Mercedes-Benz has a maximum fractional ratio of 1273.31% in Suzhou, Wuxi, and Changzhou, which means that the price of all accessories can be purchased for 12 The monopoly profiteering of complete vehicles and repair parts caused an uproar in the industry. Among the 18 models announced in the second batch of integration ratios, 15 have ratio coefficients of more than 300%. On July 26 last year, FAW-Volkswagen Audi announced that it would lower the prices of original spare parts for domestically-produced models. After the price cuts, the Audi A6L’s “zero-to-weight ratio” will drop from 411% to 291%. Prior to this, Mercedes-Benz has also lowered its car maintenance costs nationwide, with a price cut of more than 20%. From a vertical perspective, the tip of the iceberg of monopoly industries has been peeled off. From a horizontal perspective, since the shareholding ratio is not opened, a vicious circle will be formed to contend with a zero-to-one ratio.

The anti-monopoly investigation by relevant ministries and commissions proved that between January 2000 and February 2010, eight Japanese parts companies including Hitachi, Denso, Aisan, Mitsubishi Electric, Mitsubishi, Yazaki, Furukawa, and Sumitomo were involved in the Chinese market. 13 products including starters, alternators, throttle bodies, wiring harnesses, etc.

This confirms that many deep-seated contradictions in the development of local enterprises have not been fundamentally alleviated from the perspective of manufacturing foundations, such as the relatively lagging development of key basic materials, core basic components, advanced basic technology and industrial technology foundations, and the lack of independent innovation capabilities of enterprises. Many major key technologies and products are missing, some high-end key equipment is still subject to imports, intellectual property protection is seriously insufficient, and the cultivation of independent brands is lagging behind. These are key issues that need to be resolved urgently.

   On September 15 last year, ZF reached an agreement with TRW. ZF acquired all the listed shares of Tianhe for USD 12.4 billion in cash. It is the largest M&A case in the world's auto parts industry in the past 10 years. The unification of the two companies means that they have formed the world's second largest auto parts supplier with a value of 41 billion U.S. dollars, and become competitors of the same level with German Bosch, Denso, Germany and other parts industry giants.

   What can be gradual is the integration of Shanghai ZF Asia-Pacific R&D Center and TRW Asia-Pacific R&D headquarters, which has formed an ultra-large-scale R&D team.

   On May 18 last year, Yanfeng Automotive Trim Systems Co., Ltd., a subsidiary of SAIC Motor Corporation, and Johnson Controls of the United States signed a global cooperation framework agreement for automotive interior business in Shanghai. The two parties established a global automotive interior joint venture in the Shanghai Free Trade Zone in which Yanfeng Company holds 70% shares and Johnson Controls holds 30% shares. The new joint venture company realizes the global design, manufacture and sales of instrument panels, sub-instrument panels, door panels, cockpit modules, console modules and other automotive interior products, which are targeted at China, North America, Europe, South Africa, Southeast Asia and other regions. Global vehicle customers are expected to account for 15% of global automotive interiors. Yanfeng expects an annual growth rate of 6% to 8% for the joint venture's performance. This is the beginning of SAIC's series of further improvements in vehicle manufacturing through joint ventures.

   In June last year, Joyson Electronics, through its holding subsidiary German Preh, acquired the entire equity of the assembly line developer IMA and related intellectual property rights for 14.3 million euros, and raised 689 million yuan to acquire the equity of Quin GmbH. Provide vehicle manufacturers with human-vehicle interactive products, high-end steering wheels and interior functional parts assemblies to enter important high-end customer markets such as Mercedes-Benz, BMW, and Audi, and achieve global supply. This is the beginning of Joyson Electronics' complete vehicle manufacturing through mergers and acquisitions.

In addition, Zhuzhou Times New Materials spent approximately 290 million euros to acquire the assets of ZF’s BOGE rubber and plastics business, using the advanced technology of the two companies, the global industrial foundation and the systemic effect on the market to enter the supply of international vehicle companies. system. All these mergers and acquisitions represent the strong direction in the bones of local parts.

   Starting from the platform strategy, the relationship between a single vehicle model and the global biological chain of the platform is always due to the importance of the integration of Chinese manufacturing and the global market. Otherwise, Made in China loses its meaning.

Volkswagen is not taking advantage of the disintegration of Eastern Europe to acquire the "Czech Cannon" and the Asian financial crisis to turn South Korea's Daewoo into a "golden bow tie" trick. It just swings to tour domestic golf courses and movie star carnivals? Is it just a conventional skill of public relations? Therefore, when European and American brands make a new round of price cuts for Japanese brands, it is just a regular market competition. Because further mergers and acquisitions of global parts and components are the root cause of the price reduction of the whole vehicle. Globalization is the localization of technology. Localization has accelerated the integration of the car industry, and it is a new birth rather than a demise.

On the other hand, why is SAIC not the leader in this price cut? The exchange of Li and Xu is viewed as both a "spear" and a "shield" in the assessment of the outside world. It can be said with certainty that it is bigger than SAIC. The intensive combination of "price adjustment" burst out?