Ashok Minda, GCEO & Chairman, Spark Minda Group
Market Outlook
As we noticed, the entire economy and different vehicle segments were severely affected in Q1 due to COVID-19 impact and the lockdown. This resulted in a very difficult time faced by the entire manufacturing sector, automotive ecosystem including the ancillary industry.
Following various safety guidelines, we are servicing our customer requirements currently, which has consistently grown since May’20. Our production volumes have recovered well in the last 2 months; however, we still are facing challenges in manpower and SCM areas.
With the gradual lifting of lockdown, Q2 which just ended, saw revival of 2W and tractor in a V-shape recovery. The PV segment has also recovered well. We are confident of a good festival season-based demand and volume achievement in the next 2 quarters.
In line with the founding principle of our company, we will continue to provide solutions to our customers and remain customer-centric at all times. We are revamping our business and product strategy to ensure we are ready with relevant products for the dynamic Indian automotive industry.
Expectations
This story is from the October 2020 edition of MOTORINDIA.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the October 2020 edition of MOTORINDIA.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
ATS ELGI launches new range of equipment for CV segment
GARAGE EQUIPMENT
VECV delivers 50 CNG buses to PMPML in Pune
VEHICLE ZONE
Lucas TVS chosen as one of India's best workplaces in auto industry
The certification was done by The Great Place to Work Institute which works with the purpose of giving companies an opportunity to benchmark their practices that make every workplace unique for employees
JAMNA AUTO launches new trailer air suspension, bullish on market success
Understanding the pulse of the Indian customers, drivers and operating conditions, the home-grown company has come up with an ‘Indian product for Indian roads at Indian price’, reports N. Balasubramanian
Bridgestone drives Saabri Logistics' advancement with top-notch end-to-end tyre management
It is never easy for a fleet operator to strike the right balance between tight revenues and rising fuel and parts’ costs. However, if chosen wisely, important elements such as tyres can help in business advancement. Rajesh Rajgor finds this to be true in the case of Saabri Logistics
ZF to invest Euro 200 million as part of ‘Refresh India' strategy
ZF has announced a significant investment of around Euro 200 million as part of a strategic consolidation of its business domains with renewed impetus to drive growth in the Indian market over the next decade.
Chasing records, making roads, with Tata trucks
Jagdish Kadam, Chairman & Managing Director, Raj Path InfraCon shares details with MOTORINDIA about striving to create a world record for the longest road constructed in 24 hours, his company operations, and his fruitful association with Tata Motors.
IPL-Shaw JV for DEF solutions takes flight!
Commenting on this development, Gautam Venkataramani, Director, IPL Shaw Solutions India, said, “India Pistons Limited’s customer experience, local manufacturing strength over 60+ years with research and development and application engineering expertise will be used to provide DEF system solutions with light-weighting, performance-oriented approach leading to CAFE focus.”
What COVID has taught the resilient auto retail industry
In this special Guest Column, Vinkesh Gulati, President, Federation of Automobile Dealers Associations (FADA), shares his observations and views on how the Indian automotive retail sector has weathered the COVID storm and the key learnings and takeaways from the experience
“Cautiously optimistic on growth as COVID continues, emphasis on strong exports and aftermarket” - Vinnie Mehta
Contributing more than 6% to the nation’s GDP as per reports in April 2021, the Indian automotive industry in its entirety provides employment to about ‘37 million people’.