博世中国总裁徐大全近日表示，2021年至2022年的汽车芯片短缺期反而成为了中国汽车产业链财务最健康的时期[1]。在这段期间，博世在中国一度只能交付30%至40%的订单，但正因为供给受限避免了恶性价格战，整个行业得以维持较为合理的利润空间[1]。
相比之下，当前汽车产业面临更为复杂的挑战[1]。存储芯片、PCB等原材料成本涨幅高达40%，而零部件行业平均利润率仅为3%至6%，原材料价格上升足以抹平全年利润[1]。行业利润率持续下滑，去年平均为4.1%，今年一季度已下降至3.2%[1]。与此同时，车企持续压价成为新常态，2025年常规客户年降普遍在8%至10%，部分客户更是要求降价10%至25%[1]。
博世自身的经营状况反映了行业困境[1]。去年博世中国区营收达1498亿元，增长4.9%，但EBIT利润率仅为2%，今年期待能够回到4%至6%之间[1]。长安汽车因严格执行60天账期导致账面现金减少180亿元，但平均账期实际仍不止60天，这也反映出产业链现金流压力[1]。
徐大全呼吁行业回归价值竞争，建立合理的利润机制与付款账期[1]。他同时建议中国车企在出海时借鉴丰田模式，注重本地化运营而非单纯输出国内的价格战策略[1]。博世中国占全球销售额20%，新产品新技术以中国为中心研发，中国市场的健康发展对整个集团战略至关重要[1]。
Xu Daquan, president of Bosch China, argues that the automotive chip shortages of 2021 to 2022 paradoxically represented the financially healthiest period for China's auto supply chain [1]. During that crisis, Bosch could only fulfill 30% to 40% of orders in China, yet the constrained supply prevented destructive price wars that have since ravaged the sector [1].
The industry now faces mounting pressures that have eroded profitability dramatically [1]. Raw material costs for components like storage chips and printed circuit boards surged by as much as 40%, while the average profit margin for parts suppliers stands at merely 3% to 6% — levels insufficient to absorb such increases [1]. Annual price reductions demanded by customers have intensified, with standard year-on-year cuts now ranging from 8% to 10% in 2025, while some buyers are pushing for discounts of 10% to 25% in the current year [1].
The squeeze is evident in industry-wide metrics [1]. The average sector profit margin fell from 4.1% last year to 3.2% in the first quarter of this year [1]. Bosch China's own EBIT margin dropped to 2% last year, though the company aims to return to the 4% to 6% range this year [1]. Despite these challenges, Bosch China achieved 1.498 trillion yuan in revenue last year, representing 4.9% growth, and accounts for 20% of Bosch's global sales, with new products and technologies increasingly centered on the Chinese market for development [1].
Payment terms add another layer of strain on the supply chain [1]. Long Chang Automobile's strict enforcement of 60-day payment cycles reduced its cash position by 18 billion yuan on the books, yet average payment periods across the industry still exceed 60 days [1].
Xu calls for the industry to shift toward value-based competition and establish reasonable profit mechanisms paired with sustainable payment terms [1]. He also recommends that Chinese automakers adopting the export strategy study Toyota's approach, prioritizing local market adaptation rather than transplanting domestic price-war tactics into overseas markets [1].