Auto parts makers to continue growth with Chinese market

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Auto parts makers to continue growth with Chinese market

Korean auto parts makers will likely continue to increase profits thanks to China’s automobile markets, a report said yesterday.

Parts makers with high earnings contributions from Chinese subsidiaries, such as Mando, Sungwoo Hitech and Hwashin, are expected to enjoy sound earnings growth, Woori Investment & Securities said in a report.

“We believe that China will continue to post leading global auto sales growth in 2013 thanks to the Chinese government’s likely introduction of economic stimulus and capacity expansions via joint ventures with overseas automakers,” said Cho Soo-hong, an analyst at Woori Investment. 

Yonhap
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