Optimism Prevails
The Indian auto components industry has been in a growth trajectory with a CAGR of 6% during the last 6 years. The industry posted 8.8% growth to Rs 2.55 lakh crore in 2015-16. With signs of recovery in the automotive market and prospects of a better monsoon, the Automotive Component Manufacturers Association of India (ACMA), the apex body representing the auto component manufacturing industry, is optimistic about higher growth in the coming years beginning with 8-12% during 2016-17.
On the export front also the auto components industry fared well. Though the overall exports from India had a negative growth of 9.58%, exports from the component industry grew 3.5% in 2014-15. However, the import of auto components went up 9.3% in 2015-16 comparing the previous year. While a 100% indigenisation may not be possible the higher import content of auto components vindicate the immense potential for research and development and `make in India’.
For vehicle manufacturers green shoots are visible. Still there are lot of stumbling blocks. Growth is mainly due to the new launches and exports which do not give a proper return on investment. The skill of making products according to customer expectations and bringing them to the market on time at the right price is a skill evading the Indian automakers. If this issue is addressed rightly, all will be winners in the Indian as well as global markets.
Seating and interiors of vehicles, noted for increasingly complex and conflicting demands from customers, environmental and economic compulsions, have come to the fore. There is a big drive to lightweighting of parts, since seating systems represent almost 40% of the weight of a vehicle’s main interior components. The new seatings have to weigh less while offering better comfort, space, infotainment and safety to the passengers and drivers. In order to highlight these challenges faced by the seat manufacturers, the focus of the current issue is on the ‘Automotive Seating Systems.’ The new products and systems developed by the major players like Magna, Harita, Tata AutoComp, Pinnacle Industries and Brose are highlighted. They have shared their experience and plans for bringing highly advanced and lightweight products to the market.
Wishing you pleasant reading.
Bhargav TS
Executive Editor
s.bhargav@nextgenpublishing.net
