Improving the strength of grey cast iron wheel hubs will improve the safety of automobiles and have a great significance for energy saving and environmental protection. This paper systematically compares the calculation results of Python-based precipitation calculation and JmatPro software simulation with experiments. The results show that with a low mass fraction of niobium (0.098%) cuboid Niobium Carbide (NbC) precipitates do not form in the liquid phase; however, an elongated NbC niobium-rich phase may form during the solidification process and in the solid phase. However, cuboid NbC precipitates can be precipitated from the liquid phase when the niobium mass fraction is higher (0.27%, 0.46%). These results indicate that with the increasing niobium content the amount, particle size, and initial precipitation temperature of niobium carbide precipitated in the matrix structure will increase. According to the observation and statistical analysis of the microstructure, it is found that tensile strength will be improved with an increase in niobium content due to the refinement of the graphite and pearlite interlamellar spacing. In this paper, adding less than 0.32% of Nb to grey cast iron is recommended, considering the comprehensive cost and the effect of niobium in the material structure.