There are many kinds of lights, both external lighting such as headlights, front fog lights, reverse lights, license plate lights, and internal lighting such as wall lights, ceiling lights, door lights, reading lights, and external signals such as outline lights, position lights, turn signals, running lights, parking lights, brake lights, rear fog lights, and internal signals such as headlights high beam work lights, turn signals, and coolant temperature warning lights.

The lights are the lights on the vehicle, which are the tools to illuminate the road when the vehicle is driving at night, and also the prompting tools to issue various driving signals of the vehicle. From the perspective of the industry chain, the upstream raw materials of vehicle lights are mainly light sources, electronic components and plastics, the midstream is mainly light modules, controllers and plastic housings, and the downstream is mainly vehicle light enterprises. Among them, the lamp controller is one of the three high profit links in the lamp industry chain.

2022 Vehicle Lighting Industry Supply and Demand Trends and Current Situation Analysis

China exported 413,367,000 pieces of electric lighting devices for motor vehicles, up 4.4% year-on-year; China imported 52,868,000 pieces of electric lighting devices for motor vehicles, up 13.6% year-on-year.

In recent years, with the continuous increase in automobile production and sales, the automotive lighting industry has developed rapidly. Data show that from 2016 to 2020, China's automotive lighting market size fluctuates down. in 2020, its market size is about 49.37 billion yuan, down 0.6% year-on-year.

The automotive industry belongs to the propulsion industry, which can drive the strong development of other industries and play a vital role in China's economic development. At present, China has developed into the world's largest automobile market. Although the demand for auto consumption is still there, the new car market and after-market in China are changing day by day and unstable with the change of mentality of most consumers, the slowdown of macroeconomic growth and the fierce competition in the market.

On May 31, the Ministry of Finance and the State Administration of Taxation issued a notice on the reduction of vehicle purchase tax for some passenger cars. Vehicle purchase tax will be reduced by half, i.e. from 10% to 5%, for passenger vehicles of 2.0 liters and below purchased from June 1, 2022 to December 31, 2022 and with a single vehicle price (excluding VAT) not exceeding 300,000 yuan. Local governments followed suit and responded to the call. Depending on the local economy, different support policies were introduced with unprecedented incentives for car purchases.