News articles

India: Rupee hits export of auto parts

Hit hard by a hardened rupee and slowdown in domestic market, the Indian auto component industry has fallen on difficult times and fears it may lose its cost-competitive edge to other low-cost markets with many domestic companies already backing out of international bids.

The Times of India [© Times Internet Limited]

India: Rico looks at China, Thai units

Rico Auto Industries Ltd, is considering building factories in Thailand and China in a bid to take advantage of FTA between India and these countries. Also, a strong rupee is making it difficult for the company to remain competitive and win supply contracts with products made in India.

livemint.com [© HT Media Limited]

China Automotive Systems enters U.S. aftermarket market

China Automotive Systems, Inc. , a leading power steering components and systems supplier in China, has entered into its first aftermarket supply contract in the United States with R&B, a major aftermarket supplier. With this agreement and the first shipment of power steering products, China Automotive Systems has officially entered the U.S. auto parts aftermarket.

CNNMoney.com [© Cable News Network]

India: Small, mid-sized makers of auto parts move into whole systems

Small and mid-sized Indian auto parts manufacturers are becoming makers and assemblers of several parts in the face of increased competition from firms that are doing this and the prospect of losing the business of customers, who wish to cut costs and time.

livemint.com [© HT Media Limited]

India: Commoditisation of car engines in top gear

What happened in the European car industry about a decade ago is now being replicated in the Indian industry, as global car makers, setting up greenfield sites in the country, will be able to manufacture 1.8 million cars annually in the next few years.

The Economic Times [© Times Internet Limited]

South Korea: Hyundai Mobis localizes core parts

Hyundai Mobis, an affiliate of Hyundai-Kia Automotive Group and the country’s largest auto parts supplier, has succeeded in localizing core parts of the motor-driven power steering (MDPS) system.

The Korea Times [© KoreaTimes.co.kr]

UK: Emerging markets could help car parts businesses

Car making in emerging markets like China is threatening Britain’s car components industry, but could provide business opportunities for the sector, according to the SMMT.

MOTORTRADER [© Nexus Business Media Ltd]

Russia: Oligarch sees Magna gearing up in Russia

Oleg Deripaska says Canadian auto-parts giant Magna International Inc. is bound to double in size as it drives into Russia. Deripaska is the Russian aluminum magnate with ties to his country's highest political circles who became co-owner of Magna this year through a $1.5 billion investment by his company, Russian Machines.

thestar.com [© Toronto Star]

South Korea: 'No future for South Korean auto parts industry'

The chief of Hyundai Mobis Co., South Korea's largest automotive parts supplier, on Wednesday painted a bleak picture of the future for the country's auto parts industry, citing poor investment and the rise of Chinese rivals.

TRADINGMARKETS.com [© The Connors Group, Inc.]

India: Auto components imports surge, exports dip

India may be reckoned competitive on the global map with regard to exports of auto components, but on the home front it is imports that are showing a higher growth. Contrary to popular perception, the latest figures reveal that India is a net importer of auto components.

Business Line [© The Hindu Business Line]

India: Auto majors race to India for sourcing

The domestic auto component industry is expected to witness a boom with global car majors drawing up plans to source from Indian suppliers. According to the Auto Component Manufacturers Association (ACMA), global sourcing of components from India will double from $2.95 billion to $5.9 billion in 2008-09, and is slated to hit $20 billion in seven years.

Business Standard [© Business Standard Ltd.]

India: Auto parts makers insist on currency fluctuation clause

Some of the Indian auto parts makers are rushing to re-open key supply contracts with their US-based customers as the rising rupee is sending the entire industry into a tailspin. A few others, who have entered into fresh negotiations with their customers, have started insisting on building in currency fluctuation clauses to counter further changes in the Indian rupee.

Business Line [© The Hindu Business Line]

Philippines: Car parts makers seek exports with new brand

Local auto parts manufacturers have announced they are adopting a common brand in an effort to break into the export market as the industry continues to operate below capacity.

INQUIRER.net [© INQUIRER.net]

India: Honda to source parts from India plant

India is likely to become an important sourcing hub for global auto maker Honda. Honda Motor India (HMI), the integrated subsidiary of Honda’s Indian operations, will start sourcing critical engine parts making India a key country in its Asia-Oceanic sourcing plans.

The Economic Times [© Times Internet Limited]

India: 'Priority is to upgrade auto parts makers'

Sanjay Labroo, president of the Automotive Component Manufacturers' Association (ACMA), has acknowledged the inflationary pressures on auto makers due to rising input costs. On the challenges facing the components sector, he would like to initiate steps to improve the status of the secondary auto parts makers.

Business Standard [© Business Standard Ltd.]

Russia: AutoRussia 2007, a forum for automotive business

More than 300 senior representatives; leading figures in Russia's automotive manufacturing sector, including leading OEM projects in the St Petersburg area, as well as senior representatives from auto OEMs and T1s around the world, will meet at the conference to discuss their current projects and future plans.

Processingtalk [© Pro-Talk Ltd.]

Malaysia could become trading hub for auto parts

With its increasing production and high trade volume of automotive parts and components and its well developed infrastructures and financial institutions, Malaysia could well become a trading hub for these merchandises, says International Trade and Industry Ministry Parliamentary Secretary Datin Paduka Dr Tan Yee Kew.

Bernama.com [© BERNAMA]

South Africa: Spotlight to shine on parts makers

South African Automotive Week ― an international trade event to take place from 2-6 October in Port Elizabeth ― follows a record-breaking year for the domestic industry, when South Africa was again one of the best performing markets internationally.

just-auto.com [© just-auto.com]

Romania: Car parts attract new wave of investments

Foreign investments in the car parts industry are set to exceed 1bn euros this year and will create around 8,000 new jobs, according to information provided by the National Agency for Foreign Investments (ARIS).

zf.ro [© Ziarul Financiar]

2007-07-11

India: Where are the hands that drive?

India’s burgeoning car manufacturing industry and a growing world demand have given wheels to the country’s auto component manufacturers. But will there be enough trained manpower to steer this boom?

The Economic Times [© Times Internet Limited]

2007-07-06

Philippine auto parts firm breaks into UK market

A local auto spare parts exporter has penetrated the United Kingdom market, after bagging a supply contract resulting from its participation in one of biggest trade fair for automotive parts and accessories in Europe.

Bernama.com [© BERNAMA]

2007-07-04

India: Ashok Leyland and Finnish firm in JV to manufacture auto parts

Ashok Leyland Ltd, India’s second largest truck manufacturer, has formed an equal joint venture (JV) partnership with Finland-based Alteams Group to manufacture auto components for the automotive and telecommunications sectors, to cater to growing domestic demand and also leverage India’s emergence as a hub for the manufacture of auto-components.

livemint.com [© HT Media Limited]

India: Volvo joins global drive for Indian components

India is fast emerging as a global sourcing hub for auto components. After Toyota, Renault and DaimlerChrysler, it’s Swedish commercial vehicle maker Volvo which sees India as a major destination for auto component sourcing for its global operations in France, the US, Brazil, Sweden coupled with its CKD plants spread across the world.

The Economic Times [© Times Internet Limited]

2007-06-28

Asean automotive companies must strategise for mutual benefits

Asean automotive companies must strategise for mutual benefits from the economic growth and development of the region which comprises more than 560 million people, according to International Trade and Industry Minister, Datuk Seri Rafidah Aziz.

Bernama.com [© BERNAMA]

India: Mahindra auto parts arm on buying spree

Mahindra Systems and Automotive Technologies (MSAT), the auto components arm of Mahindra and Mahindra (M&M), is in an advanced stage of negotiations for acquisition of at least four overseas companies in the areas it operates – stamping, composites, forging and gear box.

Business Standard [© Business Standard Ltd.]

China's Automotive Electronics Industry Still Has Great Potential

In 2006, directly driven by the fast-growing automotive industry, China's automotive electronics market continued to maintain its growth momentum. For the whole year, automotive electronics sales revenues reached 86.76 billion Yuan, up by almost 40% year-on-year.

EARTHtimes.org [© PR Newswire]

India: Amtek Auto close to UK acquisition

Indian vehicle parts maker Amtek Auto Ltd. is close to buying an aluminium foundry in the UK from J.L. French Automotive Castings at an enterprise value of about $40 million. The unit has an annual capacity of 20,000 tonnes and would help scale up the Indian firm's presence in light components. Amtek may also shift the plant to India.

Reuters India [© Reuters]

Turkey: Auto supply industry calls upon government aid

Turkey's automotive sector is facing many obstacles to being competitive internationally and is calling on the government to come to its aid. The strength of the Turkish currency, a lack of financial subsidies or support from the government and a need for qualified, trained staff were among the areas of concern highlighted by representatives of the automotive supply industry.

Turkish Daily News [© Dogan Daily News Inc.]

Chinese cherish their Chery

Over the past few years, China's exports of automobiles and parts have escalated rapidly. US imports from China increased from US$1.6 billion in 2000 to $5.3 billion in 2005. Most automotive-sector exports to the US are auto components rather than vehicles. Complex parts such as engines have been consistently imported from China: $54 million worth in 2000 to $197 million in 2005.

Asia Times Online [© Asia Times Online (Holdings), Ltd.]

Russian Machines and Canada's Magna to make auto parts in Russia

Russian Machines, which manages engineering assets of Russian industrial holding Basic Element (BasEl), including auto maker GAZ, plans to produce auto parts in Russia with Canada's Magna.

NOVOSTI [© RIA Novosti]

China: Auto-parts makers seal the deal

While multinationals make inroads into China's auto parts industry, domestic producers are moving at full speed to break onto the international stage. Dekra, a leading European certification body, and Sinomotive Group Ltd, an auto parts trader, has announced a strategic quality initiative to help Chinese firms increase exports.

Chinadaily.com.cn [© China Daily Information Co]

India: TACO goes global in quest for growth

Tata Autocomp Systems Ltd (TACO), which aims to be a $1-billion supplier of automotive parts to global car manufacturers by 2008, is setting up its first new factory manufacturing auto components overseas.

livemint.com [© HT Media Limited]

India's global auto hub dream in threat

India's quest to become a global auto manufacturing hub could be seriously challenged by its inability to sustain its low-cost production base, research firm KPMG has said.

The Economic Times [© Times Internet Limited]

Malaysia: Catenate Sdn Bhd secure major UK auto parts contract

Catenate Sdn Bhd confirm that they have been awarded preferred supplier status to UK Automotive Parts supplier, N C Lancaster Ltd. Effective from January 2007, the contract is for the supply of flexible exhaust couplings to N C Lancaster automotive aftermarket supplies division.

PR.com [© PR Worldwide, Inc.]

Global auto majors eye Indian auto components

A large number of cars in north America, Europe and in other auto marts of the world now carry Indian brands under the bonnet. Of the Rs 9,000 crore worth of component exports by the Indian auto component industry, around 70% are bought by global majors such as General Motors, Ford and DaimlerChrysler, among others.

The Financial Express [© Indian Express Newspapers (Mumbai) Ltd.]

Indian auto firms eye global markets

Hyundai Motor India's factory in the South Indian state Tamil Nadu was set up in 1996, both to supply the fast-growing domestic market and as a production base for the Korean parent's customers around the world. Ten years later, 300,000 cars a year are produced here, and 'by the end of 2007, we will have doubled our capacity', says Hyundai Motor India's P Sudhir Kumar.

BBC News [© BBC]

Potential for Malaysian auto parts to enter Japan

Despite being regarded as less competitive, there is potential for Malaysian-made auto parts to make inroads in the more mature Japanese market.

Bernama.com [© BERNAMA]

China: SORL Auto Parts enters into agreement with TATA

SORL Auto Parts, Inc., a leading manufacturer and distributor of commercial vehicle air brake valves as well as other auto parts in China, has entered into a new sales agreement with TATA Motors, the largest commercial vehicle manufacturer in India.

PRNewswire [© PR Newswire Association LLC]

Malaysia: myMCSB targets 300 auto parts suppliers

The newly-launched Malaysian Automotive Network Exchange (MANeX) is to account for RM300mil of the total automotive parts sales in the first year of operations.

The Star [© Star Publications (Malaysia) Bhd]

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