AS the economic slowdown puts the brakes on new car sales, overseas buyers have begun sourcing more quality aftermarket auto parts from China.

A recent private sourcing event for auto parts and accessories in Shanghai attracted eight international buyers and 22 selected suppliers from China that were involved in boosting auto parts exports.

John Deml, business development group manager of Canadian Tire's Shanghai Representative Office, said the chance existed to keep the market growing.

''As consumers opt to repair vehicles rather than replace them, there's a growing opportunity in the auto parts market,'' Deml said.

"The event helped us find suppliers who can deliver the kind of value-for-money products our customers are demanding in today's economic environment."

Merle A. Hinrichs, chairman and chief executive officer of Global Sources, the event organizer, said buyers were showing strong interest in the Chinese products.

"Retailers need to keep their shelves stocked, so sourcing must continue. In fact, we are seeing stronger than ever interest from top buyers," Hinrichs said.

Other buyers that participated in the private sourcing event for Auto Parts & Accessories included Halfords UK, the United Kingdom's largest car parts and bike retailer, and A.R.E.N.A, an alliance of 10 independent home improvement chain stores from around the world.

A slump in sales and tight liquidity has driven overseas car makers to cut jobs and production to increase cost efficiency. Many have also shifted to China seeking more price-competitive spare parts to offset rising raw material prices.

Despite a global slowdown, auto exports in China have maintained growth, but at a lower pace. The value of Chinese mainland's exports grew by about 35 percent year on year to nearly US$9 billion in the first seven months.

Source : english.chinabuses.com

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