Auto parts imports from China down 42% during April-July: Ministry data


Auto components and parts imports from China dropped by around 42 per cent during April-July 2020 to $246.33 million from $424.32 million, a year ago. Internal combustion (IC) engines and imports reduced to $58.78 million from $89.57 million, according to the Ministry of Commerce and Industry data.


Industry representatives have attributed the drop to the pandemic-driven slowdown in automobile sales. However, with the government’s push for more localisation and initiatives undertaken by the industry, additional business of Rs 25,000–30,000 crore within the next 3-4 years is possible and if volumes are sustained.


Last year, India imported components worth $17 billion, of which China accounted for 26 per cent or $4.5 billion. The rest came from South Korea, Germany and Japan, among others, Auto Component Manufacturers’ Association of India (ACMA) data shows.


ALSO READ: Auto component firms eye higher exports, low imports to become

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Auto Parts Maker Shiloh Cleared For Del. Ch. 11 Sale Plan


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Law360 (September 25, 2020, 9:08 PM EDT) —
Auto parts supplier Shiloh Industries received a green light Thursday for its Delaware Chapter 11 stalking horse sale plan, with an affiliate of private equity firm MiddleGround Capital LLC tapped as the bidder-to-beat with a $218 million offer for the business.

The decision positioned the company, which produces motor vehicle frames and other components for cars and trucks, to begin a more than month-long sale effort for the Ohio-based manufacturer.

MiddleGround affiliate Grouper Holdings LLC will

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Germany’s IG Metall trade union establishes fund to eliminate “overcapacity” in auto parts industry

 

Germany’s IG Metall trade union establishes fund to eliminate “overcapacity” in auto parts industry

By
Dietmar Gaisenkersting

25 September 2020

The IG Metall trade union established its own private equity fund earlier this summer to finance the restructuring of Germany’s auto industry. The fund, named “Best Owner Group” (BOG), is headed by the former head of the Federal Work Agency, Frank-Jürgen Weise, and Bernd Bohr, who previously headed the vehicle division at Bosch.

For the start-up capital, IG Metall invested “a few hundred thousand euros of union funds” with the IG Mining, Chemical and Energy (IGBCE) union. Weise and Bohr are now seeking further investments from wealth managers, private investors and hedge funds, as well as from “foundations, producers, business families and the government,” according to a report from IG Metall.

Bosch workers demonstrate against job cuts on March 13, 2019 in Stuttgart

The trade union has set an initial

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Auto Body Parts Market Analysis, Growth by Top Companies, Share, Trends by Types and Application, Forecast Analysis to 2026

The MarketWatch News Department was not involved in the creation of this content.

Sep 24, 2020 (The Expresswire) —
“Final Report will add the analysis of the impact of COVID-19 on this industry”

Global “Auto Body Parts Market” research report includes analysis ofmajor raw materials suppliers, manufacturing equipment suppliers, top key playersof the Auto Body Parts industry, market share, size, key consumers, and supply chain relationship.Several important areas are covered in this Auto Body Parts market research report.

Get a Sample Copy of the Report – http://www.industryresearch.co/enquiry/request-sample/16115291

Top Key Manufacturers in Auto Body Parts Market:

● Webasto ● Valeo ● SMR ● Magna ● Inteva ● Denso ● Inalfa ● Bosch ● VAST ● Kiekert ● Aisin ● Mitsui Kinzoku ● Mitsuba ● U-Shin ● ITW Automotive ● Huf Group ● Yachiyo Industry ● Tenneco(Federal-Mogul) ● Ficosa ● Thule ● Murakami Kaimeido ● ALPHA Corporation ● Trico ● Gentex ●

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“Lear is hell”: Workers speak out as COVID-19 outbreak at Indiana auto parts plant worsens

 

“Lear is hell”: Workers speak out as COVID-19 outbreak at Indiana auto parts plant worsens

By
Marcus Day

24 September 2020

Work at Lears Hammond plant? Contact us today to share a tip or for assistance in organizing a rank-and-file safety committee.

Anger is growing among workers over the worsening COVID-19 outbreak at the Lear automotive seating plant in Hammond, Indiana. The facility employs nearly 900 workers and is located just across the state border from Chicago, Illinois.

Nearly two weeks ago, a wildcat strike broke out at the factory for several hours. Workers are gravely concerned that they were being exposed to the coronavirus in the plant. The work stoppage quickly led to production disruptions at the nearby Ford Chicago Assembly Plant, which is supplied by Lear and produces the Explorer SUV. Both Lear management and the United Auto Workers union rushed to the idled lines to

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Auto Parts Sales Take Digital Ride With Used Cars

As the economy continues to show the fits and starts of an uneven recovery, it’s no surprise that new car sales are down and used car sales are up. And in the middle sits a category that has gone along for the ride with the dynamics of the market: auto parts. It may seem to be a predictable trend, but there are some surprises here — the main one being the category’s eCommerce strength.

The overall trends in the automotive business stretch from simple economics to the social distancing norms that make in-car commuting (for people who still commute) preferable to public transportation.  According to a forecast released Wednesday by Cox Automotive, the seasonally adjusted annual rate (SAAR) of total auto sales in August is expected to finish near 14.9 million, up from last month’s 14.5 million pace. Sales volume in August, forecast

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Blotter: Denton police investigating assault with hammer outside auto parts store | Blotter

A man told Denton police Tuesday that another man hit him with a hammer outside AutoZone on Tuesday afternoon, according to a police report.

Officers were dispatched around 4:19 p.m. Tuesday in reference to a fight at the store in the 500 block of West University Drive. The report says officers spoke with one man who had a mark on his left cheek, but noted it didn’t appear to be from a hammer strike. According to the report, he told police the other man hit him with a hammer three times.

The assault is still under investigation. The other man involved wasn’t at the scene when police arrived.

Other reports

900 block of Industrial Street — Police arrested an intoxicated woman Tuesday who was in a physical altercation with her brother over a purse, according to a police report.

A third party called police to report a fight between the

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Auto Parts Stock Ready to Switch Gears Higher

The stock is ripe for a round of upgrades, too

Auto parts manufacturer Cummins Inc. (NYSE:CMI) has flagged out for the past month since its mid-August all-time highs. More recently, the shares have formed a bullish engulfing candle, with support emerging at their 40-day moving average.

CMI Sept 23

There’s plenty of room for upgrades, considering 13 of 17 dole out tepid “hold” ratings. And in the options pits, puts reign supreme, according to the security’s Schaeffer’s put/call open interest ratio (SOIR) of 2.32, which ranks higher than all but 8% of readings from the past year. An unwinding of pessimism in the options pits could act as a tailwind going forward.

The good news for options traders is that the stock’s Schaeffer’s Volatility Index (SVI) of 31% sits higher than just 15% of all other annual readings, meaning options traders are pricing in relatively low volatility expectations at the moment. Plus, CMI’s

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Revealing Taiwan’s Invisible Champions: Long Feng and Cub supply innovative Auto Parts to the World | Region

TAIPEI, Taiwan–(BUSINESS WIRE)–Sep 22, 2020–

Despite stagnant growth in the automotive global market, new technologies for self-driving cars, electric cars, and carsharing are bound to have a significant impact on the auto industry in the near future. Besides the needs of individual drivers, governments in various countries have set up regulations for energy conservation, better environmental protection, and smart safety. This has led to the increasing development and use of electronics in the automotive industry. According to Strategy Analytics, Automotive Electronics systems will represent up to 50% of the vehicle cost by 2030.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200922006080/en/

Figure 1: BSD has gradually become required automotive equipment. (True universal BSD indicator from Cub)

Increasing Demand in the ADAS Market

Due to intelligence and network trends in recent years, the global automotive industry has been fervently investing in the development of driver assistance systems. According

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Long Feng and Cub supply innovative Auto Parts to the World

Despite stagnant growth in the automotive global market, new technologies for self-driving cars, electric cars, and carsharing are bound to have a significant impact on the auto industry in the near future. Besides the needs of individual drivers, governments in various countries have set up regulations for energy conservation, better environmental protection, and smart safety. This has led to the increasing development and use of electronics in the automotive industry. According to Strategy Analytics, Automotive Electronics systems will represent up to 50% of the vehicle cost by 2030.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200922006080/en/

Figure 1: BSD has gradually become required automotive equipment. (True universal BSD indicator from Cub)

Increasing Demand in the ADAS Market

Due to intelligence and network trends in recent years, the global automotive industry has been fervently investing in the development of driver assistance systems. According to survey results from JD

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