China's export of automobile parts is trending downward

Due to the global financial crisis, renminbi appreciation, and more furious market competition, China's export of automobile parts is trending downward, according to Xu Changming, director for the information resources development department of the State Information Center. Chinese auto parts companies' export destination consists mostly of developed countries and territories, whose vehicle sales volume has been slipping since the beginning of the year. Among the most prominent exporters seeing a decline: Wanfeng Auto Holding Group, one of China's noted private aluminum alloy wheel producers; transmission parts supplier Shaanxi Fast Gear Co., Ltd., whose export values have fallen 40% over the last two years. Lastly, Shandong Gold Phoenix Group Co., Ltd., a brake pad front-runner in China and a long-term partner of Delphi Corporation and the National Automotive Parts Association (NAPA) of the U.S., is looking to enact counter measures to offset the decline in exports.