The country’s auto sector which has already been under pressure due to economic slowdown and transition to BS-VI emission is now facing severe headwind since the outbreak of Coronavirus (Covid-19) in China.
Motown is likely to face severe blow due to supply chain disruption if the Coronavirus outbreak persisted longer.
OEMs are currently in the period of transitioning to BS-VI production, disruption in supply of critical components required for the same has the potential to impact smooth transition to new emission norms. OEMs sourcing components such as electronic components, fuel injection pumps, turbo charger, meter sets, LEDs, magnets, airbag components, steering system components and electric vehicle components will be affected the most.
Speaking about the poor show by the auto sector in February, Girish Wagh, President, Commercial Vehicles, Tata Motors said, “Supply disruptions from the outbreak have some impact on the BSVI transition and all efforts are underway to mitigate it.”
In February, auto sales was 250,698 units; a decline of 6.70 percent and 4.40 percent compared to February 2019 and January 2020, respectively.
Maruti Suzuki
The country’s largest passenger car manufacturer, Maruti Suzuki India (MSI) sold a total of 147,110 units in February 2020 down by 1.1 percent as against 148,682 units in the year-ago month. Total sales by MSI in February 2020 included 134,150 units in domestic market, 2,699 units of domestic OEM sales and 10,261 units of exports.
Total sales in the domestic market declined 3.56 percent in February. In a regulatory filing on March 1, the country’s largest carmaker said it sold 134,150 vehicles in the domestic market last month, as against 139,100 units in February 2019. The monthly sales data from the company comes at a time the country’s automobile sector is struggling against a prolonged slowdown due to weak demand.
Denne historien er fra March 2020-utgaven av Steel Insights.
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Denne historien er fra March 2020-utgaven av Steel Insights.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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Steel's Net Zero mission
The country’s commitment to achieving Net Zero within a targeted timeframe will now propel its steel sector towards a sustainable future in line with global trends.
Fuel Price Hike, Supply Chain Disruption Hurt Festive Sales
Supply chain disruptions and fuel price hikes have hurt festive sales in a big way as most auto majors posted decline in sales in October.
Seaborne coking coal offers remain range-bound
Seaborne coking coal offers moved in a narrow range in October amid global supply tightness and healthy spot demand.
Global crude steel output down 8% in September
China manufactured 74 mt in September, fall of 21% y-o-y while India’s production went up by 7% to 10 mt.
MOIL embarks on expansion projects
“Even though our country is blessed with manganese ore reserves, we import 50% of the domestic requirement. We have to lower our import dependence and save precious foreign exchange.” Ram Chandra Prasad Singh, Steel Minister
Iron ore handled by major ports down 17% in H1
The 12 major Indian ports handled 27 mt of iron-ore during H1 of 2021, down by 17% from 33 mt recorded for the corresponding period of previous year.
Shrinking China output to boost India exports
“In the third quarter of 2021, the company actively responded to the pressure from external policies, such as production curtailment and dual control system on energy consumption and intensity, as well as coal resource shortage and surging prices.” Baoshan Iron and Steel Co Ltd
Indian Railways' iron-ore handling up 25% in H1
Indian Railways in April-September of 2021 (H1) transported 84 mt of iron ore, up by 25% over 67 mt during April-September 2020.
September crude steel production up 7.2% y-o-y
India’s crude steel production in September 2021 grew 7.2 percent to 9.547 million tons (mt) over September 2020 but was down by 3.2 percent from August 2021 output, provisional steel ministry data showed.
“Five enablers: way forward to sustainable cleaner steel”
Right and scalable technology, appropriate policy guidance by government, access to finance to fund transition, willingness of customers to pay for cleaner products and infrastructure for use of new technologies are the need of the hour for the sustainable and cleaner steel industry, according to Madhulika Sharma, Chief Corporate Sustainability, Tata Steel.
