The past two-years have been tough for the entire automotive industry. Component makers faced an uneven demand. Commercial Vehicle segment demand shrank to the lowest while two-wheelers demand remained steady.
The Uno Minda Group plans to invest Rs 700-800 crore over the next three years and is working on an acquisition worth Rs 200 crore in Europe, as the component manufacturer expands capacity to cash in on a turnaround in the automotive market.
Under the aegis of the National Electric Mobility Mission Plan (NEMMP), the government has proposed a pilot project to convert in next five years, all of Delhi’s carbon dioxide spewing public transport vehicles into electric vehicles.
The Government will continue with the excise cut beyond December, Anant Geete, Minister for Heavy Industries told ETAuto.com in a brief interview.
Move aimed at discouraging overloading of trucks
Pickup in passenger car space forcing parts makers to start hiring: Harish Lakshman, outgoing ACMA chief
He says the India-Asean free-trade agreement has benefited auto component makers in Southeast Asian countries like Thailand.
Outgoing ACMA president Harish Lakshman expects the new foreign trade policy to bring some good news for the auto component industry.
After a lull of two years, positive sentiment has returned to the automotive component industry, and companies are considering investment in capacity building as they expect demand to return.
In one of the clearest signs yet that an economic turnaround could indeed be under way, sales of medium and heavy commercial vehicles grew for the first time in 29 months in August after having contracted sharply in the past few months.
Maruti Suzuki's invincible success as affordable carmaker has made it a victim of perception and despite several try in the past it has not been able establish itself in the premium segment.
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