Recently, domestic media reported that the latest data from the General Administration of Customs showed that from January to August 2021, the export value of auto parts products was 316.58 billion yuan, a year-on-year increase of 34.6%, compared with 31.22 billion in the same period in 2019. The export value of yuan increased by 9 times.

Since the second half of last year, a large number of export orders have exploded, and the order growth rate has exceeded 80%. Currently, more than 40 production lines of the company are in full capacity production, and orders on hand are scheduled to be three months later.

According to reports, a machinery manufacturing plant in Huzhou, Zhejiang, mainly produces aluminum auto parts such as steering gears. The workshop is also busy. Due to the continuous increase in orders, the machinery plant integrated and expanded its production lines last year and added 3 new automations. The production line has increased the production efficiency by 30%.

It is understood that due to the shortage of chips, global automobile production is declining, and the demand for parts and components that provide supporting services to automakers has decreased, but the demand for new energy vehicles and after-sales maintenance is still strong. Affected by the shortage of chips, many overseas factories are facing an imminent suspension of production. These include brands such as Stellattis, Scania, Volvo and Ford.

Data show that this year's core shortage will lead to a reduction of at least 5.2 million passenger car production worldwide, and this number will be further expanded to 8.1 million from 2021 to 2023. Some analysts predict that the problem of chip shortages will continue until 2023.