In 2005, a historic turning point occurred in the export of automotive products in China. With the rapid growth of vehicle exports, the export of auto parts has also shown a high growth momentum, with the export volume reaching 15.223 billion U.S. dollars, an increase of 75.11% year-on-year.
China has now become the fifth largest supplier of auto parts to the United States. Based on market research, KPMG, a multinational consultancy, concluded that “China’s spare parts production is not advanced enough at present, but it will develop into an important industry in the future. China’s auto parts manufacturers will become in the near future. "The world's largest players in the auto spare parts and repair parts market." It is understood that during the "Eleventh Five-Year Plan" period, China will strive to increase the average annual growth rate of auto and auto parts by more than 40%. In 2010, it will achieve export value of 70 billion US dollars.