Auto Parts Industry

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On the Road: U.S. Automotive Parts Industry Annual Assessment Office of Transportation and Machinery U.S. Department of Commerce 2011 Table of Contents Tables and Charts Index Executive Summary Introduction Automotive Parts Sector Definitions Overview of Market Conditions Economic Indicators 2 3 4 4 5 8 9 9 11 13 15 17 17 18 18 19 22 26 28 29 30 32 33 35 Automotive Parts Markets Original Equipment Aftermarket Remanufacturing Employment Trends Leading Industry Stories Visteon Bankruptcy Comes to an End Other Industry Developments Counterfeiting Alternative Fuels Advanced Technologies In-Vehicle Electronics, Engineering, Safety, and New Technologies International Developments and Trade China Japan South Korea …show more content…

Still, automotive parts suppliers and automakers face another couple difficult years and most analysts don’t see the automotive market improving significantly until 2012. International U.S. automotive parts exports increased 36.2 percent to $58.1 billion in 2010 compared to $42.7 billion in 2009. Most of the exports (84 percent) went to Canada, Mexico, European Union 151 (EU-15), and Japan in 2010. Automotive parts imports were $90.9 billion in 2010, up 44.3 percent from $63 billion in 2009. Mexico, Canada, Japan, Germany, and China combined accounted for $71 billion, or 78 percent of total U.S. imports of automotive parts. Specifically, imports from China increased 35 percent from 2009 to $10 billion in 2010. The overall U.S. automotive parts trade deficit in 2010 was $32.8 billion, up 61.3 percent from 2009 levels. The European Union 15 countries are Belgium, Denmark, France, Germany, Greece, Ireland, Italy, Luxembourg, the Netherlands, Portugal, Spain, the United Kingdom, Austria, Finland, and Sweden. 1 International Trade Administration/Manufacturing and Services/Office of Transportation and Machinery Introduction Automotive parts consumption is linked to the demand for new vehicles, since roughly 70 percent of U.S. automotive parts production is for Original Equipment (OE) products. The remaining

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