Central China: The interior and exterior decorations of cars are developing in a coordinated manner towards intelligence. The future industry layout is steadily increasing in concentration and structural differentiation.

Central China released a research report stating that there are a variety of interior and exterior automotive parts, with fundamental changes in positioning and functionality. Currently, the industry is developing along the directions of "intelligence, lightweight, environmental protection, personalization, and comfort" in a coordinated manner. In the long term, the industry competition landscape will show a trend of steadily increasing concentration and structural differentiation, with market shares gradually shifting towards two types of companies: those with systemic solution capabilities and Chinese local suppliers with faster response speeds and superior cost control. The main points of Central China are as follows: Automotive interior and exterior parts are important components of the automotive body system, divided into interior and exterior parts, with a wide range of products. Automotive interior parts consist of a series of important components that make up the driver's cockpit and passenger cabin, including: dashboard, steering wheel, seats, door inserts, door pillar inserts, door handles, sun visors, armrests, headliners, carpets, etc. Exterior automotive parts are assembled on the exterior of the vehicle, including: bumpers, front grilles, lights, wipers, side mirrors, air intake grilles, spoilers, door handles, etc. The global automotive interior and exterior market is steadily growing, with rapid development in the Chinese automotive interior and exterior industry, accounting for over 30% of the global market share. Global automotive production and sales are steadily increasing, providing a continuously large demand base for the automotive interior and exterior market, becoming the core DRIVE of industry development, driving the global automotive interior and exterior parts market to steadily grow, expected to reach $224.23 billion by 2031. Focusing on the Chinese market, by 2024, automotive production and sales have exceeded 30 million vehicles, with the market share of new energy vehicles exceeding 40%, directly driving the domestic automotive interior and exterior parts to rise in both volume and price. In addition to the transformation of the automotive industry towards electrification and intelligence, and the increasing demands of consumers for driving experience, the value of interior and exterior parts of Chinese passenger cars is showing a year-on-year growth trend. The positioning and functionality of automotive interior and exterior parts have fundamentally changed, currently developing along the directions of "intelligence, lightweight, environmental protection, personalization, and comfort" in a coordinated manner. The global automotive interior and exterior industry presents a relatively dispersed competitive landscape with a low level of concentration. Due to the complexity of interior and exterior products, the differences in function and technology, relatively low technical barriers, and strong stability of the supply chain, the industry has a relatively low level of concentration. Data from 2022 shows that the CR3 of the global passenger car interior and exterior parts market (excluding seats and lights) is only 33.56%. Among the global leading camps, in addition to traditional giants from Europe and Japan, Chinese companies represented by Yanfeng Automotive Trim have rapidly risen to occupy a leading position in the industry. Focusing on the Chinese passenger car interior and exterior market, it also shows a pattern of "leading by the top, dispersed competition", with a CR5 of 38.95% in 2024, close to the global concentration level. In the long term, the industry competition landscape will show a trend of steadily increasing concentration and coexisting structural differentiation. In the future, market share will gradually shift towards two types of companies: those with systemic solution capabilities and Chinese local suppliers with faster response speeds and superior cost control. A-share listed companies in the automotive interior and exterior industry are geographically concentrated in the eastern coastal regions, distributed around the clusters of whole vehicle manufacturers. The automotive interior and exterior parts industry mainly targets the whole vehicle market, with large volume, high storage and transportation costs, and therefore, their regional distribution is basically consistent with the whole vehicle industry. Currently, China has gradually formed six major automotive industry clusters - Yangtze River Delta industrial cluster, Pearl River Delta industrial cluster, Southwest industrial cluster, Northeast industrial cluster, Central industrial cluster, and Bohai Sea industrial cluster. Among the A-share listed companies in the automotive industry under CITIC, there are a total of 29 listed companies involved in automotive interior and exterior parts, with key listed companies including: Huayu Automotive Systems, Changzhou Xingyu Automotive Lighting Systems, Ningbo Tuopu Group, Ningbo Huaxiang Electronic, Ningbo Jifeng Auto Parts, Changchun FAWAY Group Automobile Components, Jiangsu Xinquan Automotive Trim, Shanghai Shenda, Jiangnan Mould & Plastic Technology, Shanghai Daimay Automotive Interior, Jiangsu Changshu Automotive Trim Group, etc.