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After entering 2021, the auto industry, which has gradually recovered from the new coronary pneumonia epidemic, has once again undergone a "baptism", with upstream raw material prices rising and supply chain tensions sweeping through, "butterfly" wings affecting the entire auto parts industry.
The pressure of price increase is great
Since the fourth quarter of 2020, all kinds of automotive parts and components of raw materials on the "rise". Driven by the rising prices of raw materials such as iron ore and steelmaking coke, the prices of carbon steel, manganese steel, silicon manganese steel, chromium manganese, chromium vanadium, chromium molybdenum steel, chromium manganese vanadium, boron steel and other steel products required by automobiles have all risen, with a maximum increase of 500 yuan/ton. The tire industry is even ahead in the "price hike". More than 80 Chinese and foreign tire companies, including Zhengxin, Michelin, Jiatong, Zhongce Rubber, Sailun, Fengshen, Linglong, Pirelli, Magis, etc., have successively raised some product prices. The price increase in addition to the rubber itself, but also superimposed on the price of carbon black and other factors, the product was once in short supply, affecting the supply and demand balance of the industrial chain.
In fact, not only the price of automobile steel plates and tires is rising, but also the price of automobile plastic parts, steel structure parts, chips, etc., and the power battery is also brewing a new round of price increases. Especially plastic parts, such as ignition distributors, fuse boxes, connectors, window supports, door handles, wipers, and some motor housings, use a large number of plastics, mainly including PBT plastic, PA66, etc. Since the beginning of this year, several major chemical enterprises have announced price increases. PBT reinforced plastics have increased by 1600 yuan per ton, PBT non-reinforced plastics have increased by 1900 yuan per ton, and PA66 non-reinforced plastics have increased by 2580 yuan per ton.
In addition, the raw materials of power batteries have been rising in price and have been in a historically high position. Among them, the electrolyte lithium hexafluorophosphate has risen from nearly 130000 yuan per ton in April 2018 to 150000 yuan per ton in the near future. Lithium battery positive and negative materials enterprises, Beitri, German nano-technology, Guanghua Technology's power-type lithium iron phosphate rose about 13.9 percent.
highlight the "Matthew effect"
Very not easy to get to the industry recovery, and encounter raw material prices. The "price hike" has caused great pressure on parts companies. Many parts have experienced price increases and supply cuts due to supply shortages, which has increased the pressure on downstream vehicle companies. However, in this market turmoil, the ability of different enterprises to resist risks is not the same. For the head power battery companies, strong bargaining power and relatively strong "right to speak" allow them to calm down.
At present, domestic power battery enterprises are basically divided into two categories, one is the Ningde era model, equity and strategic cooperation with car companies, can obtain large-scale orders, and constantly reduce costs ". I'm afraid the days of non-head companies are not so good. A person in charge of a power battery company said frankly that some of the original vehicle companies that supplied them had poor efficiency, some had stopped production, and some were gradually shifting their positions and no longer involved in passenger car power battery products.
The sharp rise in the price of raw materials is undoubtedly the "salt on the wound" of motor and electronic control enterprises. In the short term, most electric drive enterprises may still be difficult to get rid of the situation of loss. According to the latest performance reports of a number of motor electronic control listed companies, the market price of IGBT and other electronic components has changed significantly. At the same time, there is a risk of tight supply of raw materials, and future profits may be greatly affected.
If the prices of raw materials continue to rise, it will aggravate the differentiation of the industry, worsen the production and operation environment of small and medium-sized enterprises, and may even reduce production of small and medium-sized enterprises. Facing the challenge of survival of the fittest, the "Matthew effect" will gradually appear, accelerating the market reshuffle.
Seeking the way to crack
In the face of the crisis brought about by the "shock" of price increase, many parts enterprises and suppliers are looking for ways to crack and enhance their ability to resist risks. By establishing a raw material price linkage mechanism with major suppliers, Huayu Automobile strengthens cost and price linkage management, while increasing revenue and reducing the risk of cost fluctuations by cutting into new customers. Fuyao Glass, Yumei shares and Silver Wheel shares mainly through category expansion to enhance business performance, and gradually form a diversified development of product categories. Product expansion is expected to drive the company's overall profitability, better deal with the risk of raw material price increases. Guoxuan Gaoke actively communicates with upstream material manufacturers and car companies, while reducing the impact of raw material price increases by optimizing internal production management, improving process technology and improving product qualification rates.
In the field of core components such as powertrains, many companies optimize processes and control production costs. At the same time, they dynamically adjust production plans according to sales conditions to avoid inventory occupying too much capital. The tire industry has chosen a stable distribution system to seek long-term development. At present, many domestic tire enterprises have price protection schemes for dealers. For example, dealers purchase goods now. If the price is lowered within two months, the whole vehicle enterprises will refund the price difference to the dealers.
On the one hand, spare parts enterprises should comply with the market law to adjust production capacity and price in time, on the other hand, they should also reduce costs through continuous innovation. For example, Jingjin Electric Co., Ltd., in cooperation with Beiqi Futian, took the lead in replacing direct drive motors with high-speed single-reduction systems on 4.5-ton logistics vehicles, reducing the consumption of rare earth permanent magnets, copper wires and silicon steel sheets by 55%, achieving "no increase but decrease" in cost, helping the whole vehicle to achieve the goal of lightweight, and proving that the whole-zero collaborative innovation is a direction to deal with the price increase of raw materials.
(Source: Oriental Wealth)
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