
Indian ancillaries cautious amid US auto workers' strike
North America accounts for 32% of the domestic auto components exports.
North America accounts for 32% of the domestic auto components exports.
Easing chip shortage globally has helped Indian companies like Maruti Suzuki and Tata Motors post record sales in 2022.
India is the third largest automotive market and is expected to lead the rebound in passenger vehicle sales.
While the first quarter of FY21 was a complete washout, the industry regained significantly from the second quarter onwards.
Auto component makers in tier 2 and tier 3 areas are in dire straits on the cash-flow front with many on the brink of closure, says the industry body.
With a significant jump in the number of confirmed cases, Maruti Suzuki India, Hyundai, Toyota Kirloskar Motor, Honda have shut operations to check the spread of Covid-19.
About 50 new launches are expected at the February 7-12 event.
Total sales of India’s top-five passenger vehicle makers plunge 30.6% to 172,992 units during the month.
Samvardhana Motherson group’s Vivek Chaand Sehgal has diversified and built a risk-free business model through its 21 acquisitions. This is how he did it.
The industry, grappling with high raw material costs, also wants a reduction in the import duty on aluminium and steel.