Main Global Automotive Parts Imports by Nation - Tendata

tendata blogMarket Insights

ten data blog22-08-2024

In 2023, global spending on imported automotive parts and accessories reached an estimated $454.6 billion.


This figure represents a significant 13.7% increase over the past five years, compared to $399.7 billion in 2019. On a year-over-year basis, the total value of automotive parts imports worldwide grew by 7.1%, up from $424.5 billion in 2022.


The top 5 importers in 2023 were the United States, Germany, Mexico, mainland China, and Canada. Collectively, these countries accounted for 45.9% of the global expenditures on imported automotive parts and accessories.


Looking at the data by region, Europe led the way with $206.4 billion spent on automotive parts in 2023, making up 45.4% of the global total. North America followed with 30.9% of global imports, while Asian nations accounted for 18%. The remaining shares were distributed among Latin America (3.4%), excluding Mexico but including the Caribbean, Africa (1.7%), and Oceania (0.7%), with Australia and New Zealand leading the latter.


For classification purposes, automotive parts and accessories fall under the Harmonized Tariff System code 8708.


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Leading Countries by Automotive Parts Imports

Here are the top 15 countries by automotive parts import spending in 2023:

1. United States: $87.8 billion (19.3% of global imports)

2. Germany: $46.9 billion (10.3%)

3. Mexico: $32.4 billion (7.1%)

4. Mainland China: $21.5 billion (4.7%)

5. Canada: $20.2 billion (4.4%)

6. France: $19.3 billion (4.3%)

7. Spain: $15.61 billion (3.4%)

8. Slovakia: $15.57 billion (3.4%)

9. United Kingdom: $13.2 billion (2.9%)

10. Czech Republic: $12.8 billion (2.8%)

11. Poland: $11.5 billion (2.5%)

12. Italy: $10.7 billion (2.4%)

13. Belgium: $10.1 billion (2.2%)

14. Japan: $8.4 billion (1.8%)

15. Hungary: $7.9 billion (1.7%)

These 15 nations combined to purchase 73.4% of all automotive parts and accessories imported globally in 2023.


The fastest-growing markets among these were Poland (up 27.5%), Slovakia (up 23.8%), Canada (up 19.4%), and Hungary (up 18.2%) from 2022 to 2023. On the other hand, imports into mainland China and Spain declined by 14.9% and 2.9%, respectively.


Automotive Parts Imports by Companies

The following are the leading companies in automotive parts imports:

1. Volkswagen India Private Limited: 36.98%, $612.93 million

2. JSW MG Motor India Private Limited: 14.37%, $238.15 million

3. Isuzu Motors India Private Limited: 10.92%, $181.08 million

4. Mitsubishi Electric Automotive India Pvt Ltd: 4.13%, $68.46 million

5. Tjahja Sakti Motor: 3.78%, $62.62 million

6. Advics South India Private Limited: 2.59%, $42.9 million

7. Continental Automotive Components India Pvt Ltd: 2.19%, $36.32 million

8. Mahindra and Mahindra Ltd: 1.34%, $22.19 million

9. ZF India Private Limited: 1.33%, $22.08 million

10. Yanfeng India Automotive Interior Systems Pvt Ltd: 1.12%, $18.64 million

These companies represent a significant share of the automotive parts import market, reflecting the global demand and distribution of these critical components.


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