German spare parts look promising in Eastern Europe and China
According to a survey conducted by PWC Consulting and the German Automotive Industry Association, German spare parts are promising for the Eastern European and Chinese markets.
Although Germany is still a base for the automotive industry, automotive growth will increasingly come from Eastern Europe and Asia, and China is the focus of the Asian automobile market. The survey shows that German auto companies are generally optimistic about the market prospects, and three-quarters of companies expect the medium and long-term market to develop well, but believe that market competition will become increasingly fierce.
German auto parts companies plan to increase their efforts in the development of emerging markets. 34% of the companies intend to invest in European countries outside the EU, and 21% intend to invest in or acquire production companies in China, exceeding North America (20%) and the European Union ( 15%) Interest rate in the economic zone, and 32% of companies plan to expand their business in Germany.
The survey shows that SMEs are generally plagued by funds, so most of them tend to finance (77%) or co-produce (66%) to expand their business. In foreign investment cooperation, 60% of companies choose joint ventures.
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