Chinese auto parts companies expand India market
[Financial Network Special Paper] Reporter Chen Siyu On August 20, Weichai Power Co., Ltd., hereinafter referred to as Weichai Power Co., Ltd. Vice President Qian Cheng told the reporter by telephone that now Weichai Power has a dedicated team inspected in India in order to increase the number of Sales of auto parts and other products in India.
Qian Cheng said: “As early as a few years ago, Weichai Power had already started to attach importance to the Indian market, but at the time the Indian market was slow to develop. Now that the Indian auto market has started, it is the Chinese parts companies that are making great efforts to enter the Indian market. Timing - According to local transportation conditions in India and local market demand, China's spare parts are more suitable for the Indian automotive market."
However, Qian Cheng said it would be inconvenient to disclose more details on this.
In fact, not only Weichai, at present, China's auto parts production companies are actively looking for partners from India. In early June, Yangzhou Yapu Auto Parts Company established Yap-Zoom Automotive Systems in India with Zoom Developers of Mumbai with a share of 51:49. The company is located in Ford New Suppliers Park in Mumbai. Inside, the main production of plastic fuel tanks.
Affected by the insufficient production capacity of parts and components, the rapid development of the Indian automobile market in 2010 was a difficult phenomenon. Pawan Goenka, president of India’s largest multi-purpose vehicle manufacturer Ma Hengda and chairman of the Indian Automobile Manufacturers Association, predicts: “In the period of at least 3-4 months, there is a shortage of components in the automotive industry in India and the long waiting time for customers to pick up cars. Will not be relieved."
In the eyes of the industry, the current automobile consumption pattern in India is still in the preliminary state before large-scale blowouts, especially in the private consumption of car sales have not yet fully started, Ford, Volkswagen and other auto manufacturers have recently to India The automotive market has introduced new cars to stimulate demand in the Indian automotive market.
The Indian Automobile Manufacturers Association estimated last month that at the end of the fiscal year in March 2011, India’s car sales will increase by 12% to 1.71 million vehicles. The inadequacy of spare parts production capacity has greatly hindered the development of the Indian automotive industry.
It is reported that China's engine parts export market has always been the United States as the largest market, followed by Japan, and far more than the export share of other countries. Exports to India ranked eighth in 2009, with an export value of US$65 million. This changed in 2010. With the economic recovery, countries’ import quotas for parts and components have increased significantly. From the January-June 2010 data, Germany, the UK, and India have seen the most significant growth, with year-on-year growth of 189.62%, 137.87%, and 115.67%. India also Become China's fastest growing engine parts export market in Asia.
However, the difficulties in the export of auto parts companies in India cannot be ignored. Jia Xinguang, a senior analyst in the automotive industry, stated that the Indian auto industry is developing at a faster rate and the supply of parts and components companies is inconsistent. Due to the increase in India’s import tariffs to China, China’s zero Parts exports are also difficult. â–
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