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New Delhi, The <keyword id="2200963" type="General" weightage="20" keywordseo="indian-automobile-sector" source="Orion">Indian automobile sector</keyword> has the potential to become an export-led USD 1 trillion industry by 2035, according to a report. The industry can achieve the size enabled by manufacturing, innovation and technology leadership, as per a report by <keyword id="294267" type="General" weightage="50" keywordseo="arthur-d-little" source="Orion">Arthur D Little</keyword>. Arthur D Little Managing Partner (India &amp; South Asia) Barnik <keyword id="17584630" type="General" weightage="50" keywordseo="chitran-maitra" source="Orion">Chitran Maitra</keyword> noted that India's automotive industry can become a global hub for design, development, and production, appealing to international markets. To achieve this, players across the industry must upgrade their capabilities for reliable and competitive global manufacturing, he added. "India's strength in automotive software and ER&amp;D (engineering research and development) can thrive by offering solutions aligned with emerging trends like zonal architecture and Advanced Driver Assistance Systems (ADAS). India has the potential to be an automotive innovation leader, with a thriving well-funded startup ecosystem," Maitra said. This highlights the increasing pace of innovation within the local automotive ecosystem and the shifting dynamics of disruption, which if harnessed effectively, can catapult India into a position of global automotive leadership. The global automotive R&amp;D and software market is expected to grow three-fold by 2030 to USD 400 billion and India can leverage its position as the software hub of the world and offshore destination of choice for such activities, it stated. "Unlocking the true potential of India's automotive sector requires a robust dialogue and concerted actions among all stakeholders, including the government. Together, the industry can drive investments and collaboration, paving the way for India to emerge as a global automotive hub with a USD 1 trillion vision for 2035," Maitra said.

Indian auto sector can become export-led $1 trillion industry by 2035: Arthur D Little

Automotive Component Manufacturers Association of India (ACMA), the apex body representing India's <a href="https://www.businessinsider.in/business/auto/news/top-cars-and-suvs-with-the-longest-waiting-period-in-india/slidelist/88393252.cms" data-type="tilCustomLink">auto</a> component manufacturing industry, on Tuesday announced that the turnover of the industry stood at Rs 1.96 lakh crore for the period April 2021 to September 2021, registering a growth of 65 per cent over the first half of the previous year. Exports of auto components grew by 76 per cent to Rs 68,746 crore in the first half of 2021-22 from Rs 39,003 crore in the first half of 2020-21. Europe accounting for 31 per cent of exports, saw an increase of 81 per cent, while North America and Asia, accounting for 32 per cent and 25 per cent respectively also registered increase of 81 and 73 per cent respectively. "Despite the slow offtake in vehicles sales due to supply side issues, especially in the first quarter, the auto component industry demonstrated a remarkable turn-around in the first-half of FY 2021-22. With significant growth in all segments -- supply to OEMs, exports as also the aftermarket, the component industry grew to Rs 1.96 lakh crore registering 65 per cent growth," Sunjay Kapur, President, ACMA, said in a statement. Imports of auto components grew by 71 per cent from Rs.37,710 crore in the first half of 2020-21 to Rs 64,310 crore in the first half of 2021-22. Asia accounted for 63 per cent of imports followed by Europe and North America, with 29 per cent and 7 per cent respectively. Imports from all geographies witnessed steep increase reflecting growth in domestic manufacturing activities. The aftermarket in the first half of 2021-22 witnessed a growth of 25 per cent to Rs 38,895 crore from Rs 31,116 crore in the first half of 2020-21.

India's auto component manufacturing industry grew 65% during H1 2021

<keyword id="6359783" type="General" weightage="20" keywordseo="bajaj-auto" source="Orion">Bajaj Auto</keyword> on Wednesday said its total <keyword id="6357824" type="General" weightage="20" keywordseo="sales" source="Orion">sales</keyword> increased by 19 per cent year-on-year to 4,71,188 units in October this year. The company had dispatched a total of 3,95,238 units in October 2022. Its total dispatches to <keyword id="6439831" type="General" weightage="20" keywordseo="dealers" source="Orion">dealers</keyword> last month rose by 36 per cent to 3,29,618 units compared to 2,42,917 units in the same month last year, Bajaj Auto said in a regulatory filing. The company said it was its highest-ever monthly <keyword id="3240258" type="General" weightage="20" keywordseo="wholesales" source="Orion">wholesales</keyword> to date. Its total <keyword id="35090" type="General" weightage="20" keywordseo="exports" source="Orion">exports</keyword>, however, declined by 7 per cent year-on-year to 1,41,570 units in October against 1,52,321 units a year ago.

Bajaj Auto sales jump 19% in Oct

Global auto companies such as <keyword id="46283" type="CITY" weightage="40" keywordseo="Nissan">Nissan</keyword>, Ford, <keyword id="6361865" type="CITY" weightage="20" keywordseo="Volkswagen">Volkswagen</keyword>, etc in India might be saddened by the domestic auto market but they are still making profits. 
 
Here’s how? If you look into the exports, that will unearth the secret. 
 
In the financial year ended March 31, the Indian units of these four global auto companies exported more vehicles than what they could sell in the Indian market. 
 
The exports of passenger vehicles from India went up by 5.2% in the last fiscal year to 6,53,889 units. 
 For instance, <keyword id="4581" type="CITY" weightage="40" keywordseo="general-motors">General Motors</keyword> reaped the maximum profits, approx a 17-fold jump, from the exports as it shipped more than 37,000 units of Beat model from India to overseas markets from April 2015 through March 2016. 
 
The American giant sold 32,540 vehicles in India in the past fiscal year. 
 <keyword id="106216" type="CITY" weightage="40" keywordseo="Ford-India">Ford India</keyword> shipped nearly 1.11 lakh units, or about 36% more than the year before, to foreign markets, in which EcoSport took the maximum chunk of the share. 
 
Volkswagen’s, which posted a nearly 9% drop in local sales in fiscal 2015-2016 as it was hit by a scandal, exports grew 17% from the year before to nearly 76,000 units. 
 
“There are a few factors that are fuelling these. One, of course, is the slow domestic market. The second factor is the increasing price competitiveness of the products in the global market due to higher local (India) content," Rakesh Batra, partner and national leader-auto sector, at EY, told ET. 
 
The Japanese auto-maker Nissan exported 1.12 lakh units exported, but this was a drop. 
 
(Image: Thinkstock)

This is how global auto companies in India are yielding profits despite sluggish market

<keyword id="6359783" type="General" weightage="20" keywordseo="bajaj-auto" source="Orion">Bajaj Auto</keyword> on Wednesday said its total <keyword id="3240258" type="General" weightage="20" keywordseo="wholesales" source="Orion">wholesales</keyword> declined by 11 per cent year-on-year to 2,80,226 units in February. The Pune-based company had dispatched 3,16,020 units to its dealers in February 2022. In a regulatory filing, the company said its total domestic sales increased by 36 per cent to 1,53,291 units last month, as compared with 1,12,747 units in the year-ago period. Exports, however, declined 38 per cent last month at 1,26,935 units, as against 2,03,273 units in February 2022. Two-wheeler wholesales in the domestic market rose 25 per cent to 1,20,335 units, as compared to 96,523 units in the year-ago period. Two-wheeler exports, however, dipped 37 per cent to 1,15,021 units, from 1,82,814 units in February last year. Total two-wheeler dispatches in the domestic market declined by 16 per cent to 2,35,356 units last month, as compared to 2,79,337 units in the year-ago period. Total commercial vehicle wholesales rose 22 per cent to 44,870 units from 36,683 units in February last year. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/health/news/popular-artificial-sweetener-linked-with-increased-heart-attack-stroke-risk-says-a-us-based-study/articleshow/98327710.cms">Popular artificial sweetener linked with increased heart attack &amp; stroke risk says a US based study</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/mg-motor-india-february-sales-fall-7-to-4193-units/articleshow/98327065.cms">MG Motor India February sales fall 7% to 4,193 units</a>

Bajaj Auto sales dip 11% in Feb on export woes

<div class="KonaFilter image-container display-table float_right"><div><div class="image"></div></div></div>Times are good for the Mexican auto industry. But in Brazil, they aren't so great.
<a href="http://online.wsj.com/articles/mexicos-auto-industry-overtakes-brazils-1407362733">As Dudley Althaus and </a><a href="http://online.wsj.com/articles/mexicos-auto-industry-overtakes-brazils-1407362733">Rogerio Jelmayer report at The Wall Street Journal</a>, the difference between the two Latin American countries comes down to exports. They label Mexico a "stellar export platform," sending cars to resurgent North American market. 
Brazil, on the other hand, sells most of its cars inside Brazil and exports mainly to neighboring Argentina, whose economy is reeling.
The numbers, according to Althaus and Jelmayer, are stark: Mexico exports 83% of the cars its makes, while Brazil keeps 85% within its borders. 
It might seem odd at first to consider that a large domestic market could be a liability for a nation's auto industry, but when you think about, export markets provide flexibility. Back in 2011, as the U.S. auto market was starting to recover from the 2009 economic downturn, Michigan's Oakland Press noted that foreign carmakers operating in the U.S. were doing a far better job of <a href="http://www.theoaklandpress.com/general-news/20111007/us-automakers-should-embrace-export-business">exporting vehicles than the Detroit Big Three</a>. 
"[M]anagement of Detroit's automakers decided it was too complicated to maintain the export business and gradually abandoned it," the publication's Joseph Szczesny argued. "The decision was short-sighted and foolish and ultimately robbed General Motors, Ford and Chrysler of some important insights into the evolving global market."
It now looks like Brazil may be falling victim to the same dynamic. 
Meanwhile, <a href="http://www.usatoday.com/story/money/cars/2014/02/21/mexico-to-trump-japan-as-no-2-car-exporter-to-us/5696795/">Mexico is on track to become the biggest exporter of cars to the U.S.</a> by 2015, as the Associated Press's Adriana Gomez Licon reported earlier this year. Interestingly, the cars being exported are manufactured largely by Japanese automakers. Japan is currently one of the largest exporters of vehicles to the U.S. 
Car companies doing business on a global scale are attracted to Mexico's low labor costs and proximity to the U.S., the Licon pointed out.

Mexico's And Brazil's Auto Industries Couldn't Be More Different Right Now

<div class="KonaFilter image-container display-table"><div><div class="image on-image"><a href="https://www.gettyimages.com/detail/news-photo/president-donald-trump-and-japanese-prime-minister-shinzo-news-photo/1151938084?adppopup=true">The Asahi Shimbun via Getty Images</a>President Donald Trump and Japanese Prime Minister Shinzo Abe.</div></div></div><ul><li>US and Japanese trade negotiators are meeting today and tomorrow.</li><li>A deal would ease mounting concerns about global trade and raise hopes of an end to the US-China trade war.</li><li>Japan wants to lower tariffs on industrial goods and auto parts it exports to the US, and avoid tariffs of 25% on car imports set to take effect in November.</li><li>The US is keen to export more agricultural goods to Japan and secure lower tariffs on beef and pork products.</li><li><a href="https://markets.businessinsider.com/">View Markets Insider's homepage for more stories</a>.</li></ul>US and Japanese trade negotiators are meeting this week. A deal would ease mounting concerns about global trade and raise hopes of an end to the US-China trade war.Japan's economic minister, Toshimitsu Motegi, will meet US Trade Representative Robert Lighthizer in Washington, DC on Wednesday and Thursday. The talks come as the Trump administration prepares to escalate its trade war with China: it plans to extend tariffs to virtually all Chinese goods, with the first tranche at the start of September and a second tranche in mid-December.Japan wants a deal that reduces tariffs on industrial goods and auto parts it exports to the US, and exempts it from tariffs of 25% on imported cars <a href="https://markets.businessinsider.com/news/stocks/trump-delays-car-tariffs-for-six-months-2019-5-1028210961">set to take effect in November</a>. Auto exports account for about two-thirds of the US trade deficit with the world's third-biggest economy, at about 7 trillion yen ($65.8 billion) a year, <a href="https://uk.reuters.com/article/us-usa-japan-trade/japan-u-s-ministers-meet-for-trade-talks-as-hopes-for-early-deal-fade-idUKKCN1VB0BY">according to Reuters</a>.Meanwhile, the US is keen to export more agricultural goods to the Asian nation and secure lower tariffs on beef and pork products, Reuters said.The talks could lay the groundwork for the two nations' leaders, President Donald Trump and Prime Minister Shinzo Abe, to hash out a trade agreement on the sidelines of the G7 summit in France this month. The pair could also strike a deal at the UN General Assembly meeting in late September.The Trump administration's trade disputes with China, India, Germany, and other nations have weighed on market sentiment and global economic growth. A deal between the US and Japan could settle nerves and raise hopes of similar agreements with other trading partners.<a href="https://www.businessinsider.com/intelligence/future-of-fintech?IR=T&amp;itm_source=businessinsider&amp;itm_medium=ctgr_bii&amp;itm_term=ctgr_leadgen&amp;itm_content=finance&amp;itm_campaign=future-of-fintech-2"></a> <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/mexico-buy-legal-gun-store-2015-8">Mexico has just one store where you can legally buy a gun and it's located on a heavily-guarded military base</a></h3> <div> </div> </div>

The US and Japan are holding trade talks, and a deal could settle shaky markets

<div class="KonaFilter image-container display-table"><div><div class="image on-image">REUTERS/Jonathan ErnstGermany's Chancellor Angela Merkel and U.S. President Donald Trump hold a joint news conference in the East Room of the White House in Washington, U.S., March 17, 2017.</div></div></div><ul><li>The Trump administration is investigating whether auto imports threaten national security.</li><li>President Donald Trump reportedly wants a 25% tariff on vehicles imported into the US.</li><li>The German auto industry would be among the biggest losers in that situation.</li></ul>The Trump administration pointed to national security risks as it slapped steel and aluminum tariffs <a href="http://www.businessinsider.com/trump-tariffs-what-is-a-tariff-meaning-for-prices-consumer-2018-3">on the US's closest allies</a> this week<a href="http://www.businessinsider.com/trump-tariff-imported-cars-automobiles-2018-5"></a>. But some analysts see metal-import taxes as more of a bargaining chip on a path to what the president is "ultimately interested in": the German auto industry. "We believe the far bigger prize for the White House is auto exports, most significantly from Germany," BMI analysts wrote in a recent note to clients.The Commerce Department last week launched an investigation that could reportedly result in a <a href="http://www.businessinsider.com/trump-tariff-imported-cars-automobiles-2018-5">25% auto-import tax.</a> Some experts think it would be difficult to use national security grounds to impose that kind of trade restriction on allies. BMI said Trump could use any retaliatory efforts in a trade standoff with the European Union as a reason to raise tariffs on auto imports. Currently, European Union cars to the US face a 2.5% tax, while US cars to the European Union face a 10% tax. A Dusseldorf-based magazine <a href="https://www.wiwo.de/unternehmen/auto/importzoelle-trump-will-daimler-vom-us-markt-aussperren/22620470.html">reported</a> this week that President Donald Trump wants to eliminate all auto imports to the US from Germany. The claim, which cited unnamed US and EU diplomats but doesn't include any direct quotes, is unconfirmed. But the president has repeatedly taken aim at Europe's biggest auto exporter. Trump aired grievances a in closed-door meeting with German Chancellor Angela Merkel last month, <a href="https://www.cnn.com/2018/04/30/politics/trump-merkel-putin-advice/index.html">CNN reports</a>, citing people familiar with the conversation. Merkel reportedly pushed back, noting that if Germany lowered auto tariffs for the US, they would also have to for other countries.<div class="KonaFilter image-container display-table"><div><div class="image on-image">BMI</div></div></div>The German auto industry makes up one-fifth of total exports, and the US is its second-biggest destination after China, so any move by the Trump administration could have far-reaching consequences. Premium manufacturers in the country would likely "immediately" lose money under a 25% auto tariff, a team of Evercore ISI analysts led by Arndt Ellinghorst wrote in a note to clients last week. They estimate losses in the luxury-vehicle market alone could add up to as much as €4.5 billion on up to 600,000 units, mostly sedans and hatchback variants. <div>BMW could get hit the hardest, they said, followed by Volkswagen and Daimler. BMW has the highest level of US-sourced vehicles of the three companies, at 35%. Volkswagen, the biggest auto manufacturer in the world, and Daimler have 17% and 26%, respectively.It would take two to three years for automakers to move "meaningful" production to the US if manufacturing abroad became too expensive, analysts said. And companies with no factories in the US, including Volkswagen-controlled Audi and Porsche, are seen as particularly vulnerable. <div></div><div><div class="KonaFilter image-container display-table"><div><div class="image on-image">Evercore ISI</div></div></div></div><div>"We sympathize with the idea of a level playing field," Ellinghorst said. "However, a 25% import duty (reported potential number) from vehicle imports outside NAFTA would certainly be like taking out the 'bazooka' on global auto trade war."</div><div></div></div><div>Trade tensions are threatening an already hurting auto market in Germany. Diesel-powered vehicles - which make up 39% of the country's car market - fell 20% in the first three months of 2018, <a href="https://www.reuters.com/article/germany-vehicleregistrations/german-car-sales-fall-35-pct-in-march-to-348000-cars-source-idUSL5N1RH17Y">according to Reuters</a>. That's after a German court <a href="https://www.bverwg.de/pm/2018/9">ruled to ban diesel emissions</a> in certain cities.</div>"Even if tariff barriers were dropped, the German autos market is unlikely to be under threat from an influx of American cars given consumer preferences for smaller more fuel efficient cars in the EU," BMI said. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/john-carreyrou-how-theranos-deceived-silicon-valley-startup-bad-blood-sample-technology-2018-5">How a $9 billion startup deceived Silicon Valley</a></h3> <div> </div> </div>

Trump's 25% car tariff would be like taking out the 'bazooka' on a global auto trade war - and Germany could be hit the hardest

The <keyword id="20143656" type="General" weightage="20" keywordseo="turnover" source="keywords">turnover</keyword> of India's automotive component industry registered a <keyword id="19910261" type="General" weightage="20" keywordseo="growth" source="keywords">growth</keyword> of 9.8 per cent in the financial year 2023-24, according to the Automotive Component Manufacturers Association of India (<keyword id="20475655" type="General" weightage="20" keywordseo="ACMA" source="keywords">ACMA</keyword>). The turnover stood at Rs 6.14 lakh crore (USD 74.1 billion) during the year, said the ACMA, the body representing India's auto component manufacturing industry, in its review for the fiscal year 2023-24, as per a release. <keyword id="20373789" type="General" weightage="20" keywordseo="shradha-suri-marwah" source="keywords">Shradha Suri Marwah</keyword>, President, ACMA, and CMD, Subros, said that apart from an increase in <keyword id="21825714" type="General" weightage="20" keywordseo="vehicle-production" source="keywords">vehicle production</keyword>, higher value addition from the component sector has led to growth in the auto components sector. "On the front of trade, whilst overall merchandise <keyword id="19916774" type="General" weightage="20" keywordseo="exports" source="keywords">exports</keyword> from India witnessed degrowth in FY24, auto component exports have grown despite geopolitical challenges and an increase in logistics costs," Marwah said. Elaborating on the mood of the industry and outlook for the near future, Marwah mentioned, steady growth in the vehicle industry has resulted in the industry reaching pre-pandemic levels of performance in 2023-24 in most segments, however, the first quarter of FY25 witnessed somewhat slower offtake in <keyword id="20051501" type="General" weightage="20" keywordseo="vehicle-sales" source="keywords">vehicle sales</keyword>, especially in passenger vehicles and commercial vehicles, given the high base, due to inclement weather conditions and elections. "With strong macro-economic indicators, conducive government policies, and over 7 per cent growth projected for the Indian GDP, we are hopeful that the auto components industry will continue to perform well in 2024-25," Marwah added in the release. Following are some of the key findings of the ACMA Annual Industry Performance Review: Auto component sales to Original Equipment Manufacturers (OEMs) in the domestic market were at Rs 5.18 lakh crore (USD 62.4 billion), growing 8.9 per cent compared to the previous year. Consumption of increased value-added components, a thrust on localisation, and a shift in market preference towards larger and more powerful vehicles contributed to the increased turnover of the auto-components sector. Exports of auto components witnessed growth of 5.5 per cent to Rs USD 21.2 billion in 2023-24 in contrast to USD 20.1 billion in 2022-23. North America accounted for 32 per cent of exports. Europe accounted for another 33 per cent and Asia for 24 per cent, respectively. Exports to Europe grew by 12 per cent while to Asia remained flat. The key export items included drive transmission and steering, engine components, body and chassis, suspension and braking systems. Component imports grew by 3.0 per cent in 2023-24 to USD 20.9 billion from USD 20.3 billion in 2022-23. Further, increased vehicle movement and a surge in demand for used vehicles led to buoyancy in the aftermarket across all segments. The turnover of the aftermarket in 2023-24 stood at Rs 93,886 crore (USD 11.3 billion) compared to Rs 85,333 crore (USD 10.6 billion) in the previous year. The aftermarket, with an increase in e-commerce, is witnessing enhanced penetration, especially in the hinterland, and a gradual evolution into the organised sector. (ANI)

Indian auto component industry turnover grows 9.8% in 2023-24; outlook positive: ACMA review

<keyword id="6359783" type="CITY" weightage="20" keywordseo="Bajaj-Auto">Bajaj Auto</keyword> Announced on Monday morning that they have managed to increase its <keyword id="6357824" type="UNKNOWN" weightage="20" keywordseo="sales">sales</keyword> by 13% for the month of July (YOY). This happened due to a brilliant performance in exports. Overal, <keyword id="6358511" type="COMPANY" weightage="20" keywordseo="Bajaj">Bajaj</keyword> Auto sold over 3,19,292 units in July 2014 up against 2,81,327 done during the same time last year. 
 
Exports of Bajaj two and three wheelers grew by 54%. The company sent 1,69,775 units out of the country to foreign lands in July. This has been quoted by the company as the “highest ever exports for any month”. 
 
The commercial vehicle sales for the company also grew by 49% as the company sold 51,451 units. Almost everyone in the auto sector has been putting up great numbers recently. This will bring back consumer confidence and enable the companies to further expand businesses. As said before the festive season is around the corner and the sales should just get better from this point onwards.

Auto Market On Upward Trajectory, Bajaj Auto Sales Are Up By
13%

Czech car maker <keyword id="101122" type="General" weightage="80" keywordseo="skoda-auto" source="Orion">Skoda Auto</keyword> has said <keyword id="3658" type="General" weightage="60" keywordseo="india" source="Orion">India</keyword> will become an export hub for the company as it is set to commence exports of vehicle kits for assembly in Vietnam from next year. The company, which posted a whopping 125 percent year-on-year surge in its vehicle sales at 53,721 units in 2022, also sounded hopeful of growing into double-digit this year as well. Similarly, <keyword id="166267" type="General" weightage="60" keywordseo="volkswagen-group" source="Orion">Volkswagen Group</keyword> sales grew 85.48 per cent year-on-year at 1,01,270 units in the previous calendar year. The Group is present through <keyword id="6361542" type="General" weightage="60" keywordseo="skoda" source="Orion">Skoda</keyword> Auto, <keyword id="6361865" type="General" weightage="80" keywordseo="volkswagen" source="Orion">Volkswagen</keyword>, Audi, Porsche and Lamborghini brands under Skoda Auto Volkswagen India Pvt Ltd (SAVWPIL). "India is an absolutely important market as part of our regional strategy of Skoda Auto, and India will become an export hub for Skoda," <keyword id="14798920" type="General" weightage="80" keywordseo="petr-solc" source="Orion">Petr Solc</keyword>, Brand Director at Skoda Auto India told PTI in an interaction. Volkswagen is already exporting vehicles from India to Mexico and South Africa while Skoda Auto is exporting to the Middle East and North Africa. "From next year we will start exporting vehicle kits for assembly in Vietnam," Solc stated. Export is already an important part and will continue to be an important part of the strategy for Skoda and Volkswagen, he stated. Noting that Skoda Auto India for the first time delivered more than 50,000 cars in the domestic market last year, he said "we would like to grow with the market or even faster and our ambition is to grow into double digits." He said that 2022 was specific for the company on account of the Slavia launch and added that "So, there was this kind of a one-time effect of any new model introduction." "Now, we have both models (all-new Slavia sedan and <keyword id="10576650" type="General" weightage="60" keywordseo="kushaq-suv" source="Orion">Kushaq SUV</keyword>) in the market and can now enjoy having both models for the full year in the market," he said. Solc said that the 7-seater updated SUV Kodiaq will also play a role in terms of the company's growth strategy, particularly when there is a much greater supply now. To a question on Audi, which at a point of time was the undisputed leader in the domestic premium luxury car market, Christian Cahn Von Seelen, Member of the Board for sales, marketing and digital at SAVWPIL said that its growth has been "impressive" in terms of volume in 2022 compared to the year earlier and that was still hampered significantly by the chip supply situations even in Europe. "So the growth of Audi is impressive, and we are definitely planning to continue...So as much (as) I think, I can say we will see loads of new product introductions here on the other side." On the company's EV foray in the Indian market, Solc said it depends on the development of the segment in the country. Late last month, the European car maker Skoda announced its EV roadmap, which includes six electric cars in a phased manner by 2026. "We as a manufacturer and Skoda, we will be ready. And if we see good traction, we are talking about the prognosis that the car market or the EV can go within 5-10 years, up to 20, maybe 30 per cent. We don't know necessarily," he said. "So this could be part, we would like to be also within that range, but depends again, on the response. If we see more manufacturers going, there is an infrastructure built here and there's an acceptance from the customers to buy electric cars, and we will be ready," he said. He said that the company is discussing which models it should bring in the future also to India as an EV. "And if we see the potential in the market, we will bring them as well. So I cannot say necessarily what the percentage will be. But if the market is going towards more than 20 per cent of the electric vehicles of the total market, we would like to penetrate within the EV segment," Solc added. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/health/news/india-adds-1839-covid-infections-active-cases-down-to-25178/articleshow/100063997.cms">India adds 1,839 Covid infections, active cases down to 25,178</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/adani-group-stocks-tumble-after-msci-tweak-market-capitalisation-falls-by-23000-crore/articleshow/100066101.cms">Adani group stocks tumble after MSCI tweak, market capitalisation falls by ₹23,000 crore</a>

You Searched For "auto exports" and got 11 results

Indian auto sector can become export-led $1 trillion industry by 2035: Arthur D Little

PTI

India's auto component manufacturing industry grew 65% during H1 2021

IANS

Bajaj Auto sales jump 19% in Oct

PTI

This is how global auto companies in India are yielding profits despite sluggish market

BI India Bureau

Bajaj Auto sales dip 11% in Feb on export woes

PTI

Mexico's And Brazil's Auto Industries Couldn't Be More Different Right Now

Matthew DeBord

The US and Japan are holding trade talks, and a deal could settle shaky markets

Theron Mohamed

Trump's 25% car tariff would be like taking out the 'bazooka' on a global auto trade war - and Germany could be hit the hardest

Gina Heeb

Indian auto component industry turnover grows 9.8% in 2023-24; outlook positive: ACMA review

ANI

Auto Market On Upward Trajectory, Bajaj Auto Sales Are Up By 13%

Sulabh Puri

India to become export hub for Skoda Auto from next year, says co-official

PTI

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