Gasgoo.com (Shanghai August 29) - Several China's major auto part manufacturers have released their performance reports for the first half of 2011, stcn.com reported today. Totaling up their sales results, the net profit of 78 of the manufacturers totaled 14.7 billion yuan ($2.31b), up 8 percent from 2010. Despite maintaining positive numbers, the industry grew at a rate less than in the previous two years.

Thanks to the help of the now phased out government policies and strong consumer demand, total profit in 2009 among 21 of the auto part industry's strongest enterprises over quadrupled from the previous year. This year is quite different, with some manufacturers, such as Warren Buffet-backed BYD, seeing their net profits drop tremendously. A variety of factors, including a poor economy, the phasing out of preferential purchase policies for automobiles, the rising cost of fuel and the implementation of traffic congestion measures, among others, are being cited as reasons for slowing growth in the industry.