On June 23, 《Automotive News》released the 2024 Top 100 Global Auto Parts Suppliers list. It is worth mentioning that there are two more Chinese companies on the list this year, namely Guoxuan Gaoke and Sanhua Auto Zero, in addition, the ranking of Ningde Times has risen by one place, and is now second only to Bosch, ZF and Magna International, the three traditional parts giants. A total of 15 Chinese companies made the list, including five of the top 50.
Data from this year's list shows that most suppliers have improved their sales year-over-year in 2023.
The average global sales of the suppliers on this year's list increased by about 9% year-over-year in 2022. 30 suppliers' automotive businesses all generated more than $10 billion in revenue in 2023, compared to 27 in 2022.
Bosch Group remains the world's largest automotive parts supplier, with sales to global automakers of $55.9 billion in 2023, up from $50.5 billion a year earlier. ZF, also from Germany, increased its automotive business sales by $7.6 billion in 2023 from a year earlier; and Magna International, North America's largest parts maker, posted sales of $42.8 billion in 2023, up 13 percent from 2022.
