- 前半段為文章的英文版本 (The first half is the English version)
- 後半段為中文版本 (The second half is the Mandarin version)
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This week, the U.S. President Donald Trump announced a bombshell policy that’s shaking up the global auto industry: starting April 2, all non-U.S.-made imported cars will be subject to a 25% tariff. While this move directly targets automakers in Europe and Asia, it also puts the spotlight on the upstream automotive aftermarket (AM) supply chain — particularly Taiwan’s AM suppliers, who heavily rely on the U.S. market.
Will Auto Parts Be Included in the Tariffs? The Industry Holds Its Breath
Although the White House has yet to confirm whether auto parts will be fully included in the new tariff scope, historical patterns from Trump’s previous trade policies suggest that key components might not be exempt. Reports indicate that engines, transmissions, and electronic modules have already been mentioned in the draft policy language.
Source: Barron’s
Booming U.S. AM Market Could Benefit Local Suppliers Under Tariffs
The U.S. is already the world’s largest automotive aftermarket, expected to reach $472 billion in 2025, with a compound annual growth rate (CAGR) of around 5%. Trump’s new tariff policy could further stimulate local demand in several ways:
- New Vehicle Prices Will Rise: Imported vehicles could become $5,000–$15,000 more expensive, while domestic cars may increase by $3,000–$8,000. Higher vehicle prices will push consumers to hold on to existing cars longer, driving greater demand for replacement parts.
- More Aging Vehicles, More Repairs: With the average vehicle age in the U.S. continuing to rise, the need for maintenance and non-OEM (aftermarket) parts is expected to surge.
- Local Supply Chain Advantage: If parts imports are tariffed, U.S.-based AM manufacturers would gain a strong price advantage, while foreign suppliers like Taiwan could face increased cost pressures.
In short, the tariff may unintentionally boost domestic demand for AM parts, benefiting local producers and remanufacturing firms like LKQ Corporation.
Taiwan’s AM Suppliers at Risk: Deep Exposure to U.S. Market
Taiwan’s auto parts exports exceed NT$150 billion (approx. US$4.8 billion) annually, with over 50% going to the U.S.. Major industry players include:
- Tong Yang Industry (1319): One of the world’s largest manufacturers of bumpers and collision parts
- Depo Auto Parts (6605): Global leader in aftermarket automotive lighting
- Gordon Auto Body Parts (1524): High U.S. market share in sheet metal AM components
- TYC (1522): AM lighting and mirrors supplier with production capacity in Detroit
If tariffs are extended to cover auto parts, these firms will see a significant increase in export costs, placing them at a disadvantage compared to U.S.-based AM manufacturers.
How Are Taiwanese Suppliers Responding? Localization is Key
To avoid being shut out of the U.S. market, leading Taiwanese AM firms have already begun implementing localization strategies:
✔ Tong Yang Industry (1319)
- Over 30 years of manufacturing presence in the U.S.
- Continues to expand U.S. production capacity in response to policy uncertainty
✔ TYC (1522)
- Acquired a factory in Detroit in 2023, scheduled to start production by late 2024
✔ Hota Industrial (1536)
- Investing in a new plant in New Mexico, targeting production in 2025, primarily to serve Tesla and other U.S. EV clients
✔ Lianjia Optoelectronics (6288)
- Operates a facility in Michigan, supplying LED modules to major U.S. automakers
These strategic moves help reduce tariff exposure while aligning with the broader “Made in America” supply chain trend.
What Should Investors Watch?
For investors bullish on the global aftermarket parts sector—especially in the U.S.—or those tracking how Taiwan’s AM industry reacts to policy shifts, the following publicly listed Taiwanese firms with U.S. exposure are worth watching:
| Ticker | Company Name | U.S. Presence Highlights |
|---|---|---|
| 1319 | Tong Yang Industry | 30+ years of U.S. operations, ongoing expansion |
| 1522 | TYC | Detroit factory ready for production |
| 1524 | Gordon | High U.S. market share, vulnerable to tariffs |
| 1536 | Hota Industrial | New plant in New Mexico under construction |
| 6288 | Lianjia Opto | Supplies LED modules from Michigan factory |
| 6605 | Depo Auto Parts | Major exporter, high exposure to U.S. tariffs |
Final Thoughts: Taiwan’s AM Industry Faces a Strategic Shake-Up
While the full scope of Trump’s new auto tariff policy is not yet finalized, it already serves as a wake-up call for Taiwan’s AM sector, which remains highly dependent on the U.S. market.
Whether auto parts will be included in the final tariff decision could make or break many export-driven suppliers. Those with a local presence in the U.S. will hold the advantage, while others must quickly adapt or risk being priced out.
📌 Stay tuned to: 👉 U.S. tariff policy developments
👉 Capital investment plans of key Taiwanese AM stocks
👉 Global supply chain restructuring trends
Feel free to leave your thoughts or join the conversation in the comments below.
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✍️ White Hsu / whitehsu.blog
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本週，美國總統川普宣布一項震撼汽車產業的政策——從4月2日起，對所有非美國製造的進口汽車徵收25%的關稅。此舉不僅直接影響歐亞各大車廠，也讓供應鏈上游的汽車零配件（Aftermarket, AM）產業高度關注，尤其對美國依賴度極高的台灣AM廠商而言，未來恐將迎來重大變局。
汽車關稅是否涵蓋零配件？市場屏息以待
儘管目前白宮尚未明確說明關稅是否涵蓋所有汽車零組件，但從過去川普政府的貿易政策模式來看，將「關鍵零配件」納入關稅範圍並非不可能。根據消息，目前政策內文已點名引擎、變速箱、電子模組等核心部件【來源： Barron’s】。
美國AM市場規模持續增長，關稅反而可能助長本地需求
美國汽車售後市場規模已經是全球最大，2025年市場銷售額預計達到4,720億美元，呈現年均成長率約5%的增速。川普的新關稅政策可能導致以下影響：
- 新車價格上漲：政策推動進口車價格增幅在5,000至15,000美元，國產車價格可能也會提高3,000至8,000美元。新車購買成本增加，將促使消費者轉向二手車，進一步推動對AM零件的需求。
- 零件需求增加：隨著車輛平均車齡持續提高，老化車輛需要更多的維修和保養，非原廠零件（AM件）的使用率將顯著提升。
- 本土供應鏈優勢：一旦零件進口被徵收關稅，美國本土供應商可能獲得更多需求，而國外進口零件將面臨價格提高的壓力。
另一方面，隨著新車價格因關稅而水漲船高，更多消費者可能選擇繼續使用、維修既有車輛，進一步推升對汽車維修與零配件的需求。這樣的結果將使美國 AM 市場進一步活絡。本地零件製造商與回收再製供應鏈（如 LKQ）將受益最大。
台灣AM業者：出口依賴美國、處境高度敏感
台灣汽車零配件產業出口額高達新台幣 1,500 億元以上，其中對美出口占比超過五成。其中代表性企業如：
- 東陽工業（1319）：全球最大保險桿與碰撞件製造商之一
- 帝寶工業（6605）：全球AM車燈領導品牌
- 耿鼎企業（1524）：美國市占率極高的鈑金件供應商
- 堤維西（1522）：AM車燈、鏡件，並於底特律佈局產線
若關稅政策延伸至零配件，這些廠商的出口成本將大幅提高，與美國本地製造商相比完全喪失價格優勢。
台灣廠商如何因應？擴產、設廠成為主旋律
為避免被排除在美國市場之外，台灣主力AM廠商早已開始布局在地化策略：
✔ 東陽實業（1319）
- 在美國設廠已超過30年
- 近年持續擴充美國產能以因應政策變動
✔ 堤維西（1522）
- 於2023年購入底特律工廠，預計2024年底前投產
✔ 和大工業（1536）
- 投資新墨西哥州建立新廠，目標2025年投產，服務Tesla等美系車廠
✔ 聯嘉光電（6288）
- 密西根州設廠，供應四大美系車廠LED模組
這些佈局不僅降低關稅風險，也符合美國製造政策下的供應鏈在地化趨勢。
投資人該關注哪些指標與股票？
投資人若看好全球售後汽車零件市場的成長潛力，特別是美國市場的需求增溫，或是持續追蹤台灣AM廠商的後續應對動作，以下幾檔與美國AM市場關聯深、具備在地化優勢的台廠個股可納入後續追蹤的參考名單：
| 股票代碼 | 公司名稱 | 美國布局概況 |
|---|---|---|
| 1319 | 東陽實業 | 美國設廠超過30年，持續擴充中 |
| 1522 | 堤維西 | 底特律設廠，準備就緒應對政策 |
| 1524 | 耿鼎企業 | 美國市占率高，可能受衝擊大 |
| 1536 | 和大工業 | 新墨西哥州新廠建置中 |
| 6288 | 聯嘉光電 | 供應北美LED模組，已設廠 |
| 6605 | 帝寶工業 | 車燈大廠，出口比重高，關稅風險高 |
小結：關稅風險下，台灣AM產業將進入實力重組期
川普的汽車關稅政策雖尚未完全明朗，但對於高度依賴美國市場的台灣AM業者而言，已是一項需要提前布局的大警訊。
未來是否徵收零配件關稅，將成為決定出口型廠商競爭力存亡的分水嶺。積極前進美國、在地設廠者將站穩市場；依賴貿易出口者，則需加快轉型腳步。
📌 想掌握未來變局，請持續關注：
👉 美國關稅政策公告
👉 台灣主要 AM 股的資本支出動向
👉 全球供應鏈重組趨勢
歡迎留言分享你的看法一起討論交流。
✍️ White Hsu / whitehsu.blog