News articles

Turkey: Auto parts manufacturer Gates to invest in Turkey

The Gates Corp., a major manufacturer of automotive and industrial products, will build facilities in İstanbul and İzmir, with construction to start before the end of the year and production by 2010.

Today's Zaman

India to join Honda's global supply chain

Honda Motors' upcoming plant in Rajasthan will be an export base for certain key engine components, and not a manufacturing hub like some other auto-makers such as Hyundai, Suzuki and Renault have planned. The company has similar bases in other ASEAN countries.

Business Standard

India: Parts giant to build big Chennai plant

Federal-Mogul Corp., a major automotive-parts manufacturers in the United States, is expanding its presence in India. The Michigan-based company has revealed in early August that it plans to build a massive new facility in Chennai, where it will manufacture friction, or brake, components for original equipment and aftermarket parts suppliers.

IndUS Business Journal

India: Auto parts companies pin hopes on product development

Auto component makers are not too worried about the current slowdown as their order books are overflowing with new cars being launched. Besides, work on new product development for future models going on in full swing and capacity expansion by domestic and global auto makers too is keeping their spirits high. Auto component companies say that while sales would remain flaccid for the next few months, it was likely to be a temporary phenomenon.

The Hindu Business Line

Malaysia wants to see more foreign investment in R&D

By encouraging the entry of new and important players, Malaysia wants to see continued growth in the auto assembly sector, particularly strengthening of automotive parts and components manufacturing as well as higher-end auto electronics. The government seeks to raise the level of Malaysia's automotive industry so that Malaysia does not just have a national industry, but would also be known as a regional automotive player.

Bernama.com

India: Local auto coompanies beat global players in margin play

The balance sheets may not look as pretty this year compared with that of the previous year’s, but when it comes to financial health, Indian auto companies are actually much better off than their counterparts both in developed and emerging markets. A dipstick survey of operating margins shows that most Indian auto companies score much better than some of the more celebrated names in the business.

The Economic Times

Philippines: Toyota picks the Philippines as global engine hub

Toyota Motor Corp. is ramping up its Philippine operations to cement the country's role as its global manufacturing hub for manual transmission systems with the inauguration of a P5.6-billion expanded facility in Sta. Rosa, Laguna. The expansion also marked Toyota Autoparts Philippines' starting production of the R-type transmission (RTM) that is used in Toyota's innovative international multipurpose vehicles or IMV series.

Philippine Daily Inquirer

India: Auto parts companies to see costs pinch from Q1 profits

Major Indian auto parts makers are seen reporting marginal-to-modest profits in the June quarter with rising input costs gnawing into margins. Broadly, the sector is expected to deliver a moderate set of numbers in the first quarter of 2009 due to the slowdown in overall auto demand and input cost pressures.

The Economic Times

India: German automotive major sets up shop in India

German automotive major Continental AG has set up a greenfield plant, with a research and development centre, in India's IT hub to manufacture electronic components for the burgeoning automobile market in the sub-continent.

Hindustan Times

India: Ruias acquires UK automotive firm

Firming up its plans to enter into the auto parts business, the Ruia Group, which owns tyre maker Dunlop India, has acquired UK-based Schlegel Automotive Europe and may also invest $ 15 million to set up a plant in the country. The company has acquired a 100 per cent stake in the British automotive sealing company which supplies parts to several leading global auto companies.

The Hindu Business Line

India: Caparo sees opportunity to supply parts to JLR

NRI industrialist Lord Swraj Paul's Caparo group sees a fabulous opportunity to build on its relationship with India's Tata Motors to supply design-intensive engineering parts to Land Rover and Jaguar, the two UK brands that Tata bought earlier this year.

Business Standard

South Africa's auto parts makers want cut in car imports

South Africa's automotive component manufacturers have called for vehicle imports to be restricted under a revised motor industry development programme.

motoring.co.za

India: Volkswagen to source auto parts from Minda

Volkswagen AG has signed its first sourcing agreement with Minda Industries (MIL) for automotive components. MIL has signed a USD 15 million agreement to supply headlights and rear combination lamps to VW:s upcoming cars in India and another car to be made in Russia.

The Economic Times

Malaysia and Michigan can leverage on their strengths in auto industry

Malaysia's fast-growing automotive sector can join hands with firms in the midwestern state of Michigan in areas such as vehicle design, critical automotive components manufacture as well as undertake technical cooperation in hybrid vehicles.

Bernama.com

India: More mileage for auto parts firms

The depreciation of the rupee against the US dollar by over 6 per cent in the last one month has fuelled expectations of an improvement in the operating margins of auto component manufacturers exporting to dollar-denominated economies.

Business Standard

Asian auto suppliers eye U.S. companies

Asian auto parts suppliers hoping to gain a foothold in the North American market are eyeing U.S. companies as acquisition targets, an emerging trend expected to pick up speed in the coming years.

reuters.com

Not-so-secret weapon: GM's Chinese engines

One of the most important steps on China's long march to an auto export industry was the little-noticed arrival of the humble engine inside the 2005 Chevy Equinox.

iht.com

India: Auto component industry seek check on input cost

Hit hard by rising steel prices, along with high interest rates and depreciating dollar, auto component manufacturers has asked the government to take fiscal steps to check spiralling input costs.

The Economic Times

China: Auto parts sector accelerates optimization and upgrading

At the end of November 2007, China International Auto Parts Expo (CIAPE) was held for the first time in Beijing International Exhibition Center. The Expo attracted nearly 6000 professional buyers from 88 countries and regions like USA and Germany.

CE.cn

China: SORL Auto Parts

As the demand for commercial vehicles continues to grow, the fortunes of Sorl Auto Parts, Inc., China’s largest manufacturer of commercial vehicle air brake systems, stand to follow. SORL manufactures, markets and distributes a comprehensive line of over 40 categories of air brake valves and components for commercial vehicles

SmallCapInvestor.com

India: Forging a better future

Despite the hiccups experienced by the auto component industry, better growth prospects and low valuations suggest that it’s a good time to buy solid companies in this space.

Business Standard

Mexico: U.S. auto crisis benefits Mexico

Mexico is becoming ever more attractive for automakers looking to cut costs, but challenges remain.

Latin Business Chronicle

South Korea: Hyundai Mobis aims to be world's top 10

Hyundai Mobis, the top South Korean auto parts manufacturer, aims to lay the groundwork this year to be one of the world’s top-tier companies in the industry by 2010.

The Korea Times

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