Fiscal Year not Good for Automotive Company

Fiscal Year not Good  for Automotive Company

Fiscal Year not Good  for Automotive Company

Due to the sluggishness in the automobile sector, the component industry has also been affected. In such a situation, the current financial year is not going to be good for the component industry. During the first half of the financial year, the auto component industry has fallen by 10 percent, which seems difficult to compensate in the second half. The Automotive Component Manufacturers Association (EXMA), an organization of auto components industry, expects the situation to improve from the second half of the next financial year.

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The organization believes that after the fall in the first half, there is little hope of improvement in the second half or in the first half of the next financial year. Deepak Jain, president of Acma, said, "Overall we estimate that the auto component industry is going to decline in the current financial year as there has already been a decline of 10 percent in the first half. I don't think it is possible to compensate in the second half given the current situation. "He said," So it is estimated that we are going to be at a loss. However, I expect the decline to be less than 10 percent as the performance of the second half is getting better than the first half. '

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Asked about factors that could help the industry in the fourth quarter, he said that during this period, the introduction of Bharat Stage-Six emission standards, vehicles could improve sales of automobile companies. Jain said, 'Their (vehicle companies') better sales means better sales for us (auto parts companies) too. With this, Bharat Stage-6 means that component companies will have to add something else. This may not increase the quantity but the value addition is certain. '

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When asked about the scenario of the next financial year, he said that the industry will need to wait and adopt the strategy of Look. He said, "Looking at the market conditions, it seems that the first half will be challenging." We will keep a close watch and stay connected with our consumers. ”The vehicle component industry has seen the biggest drop in turnover in the first half of the current financial year.