SKF India is expected to gain a higher share in the auto parts market
The country’s leading bearing manufacturer stated that its net profit for the September quarter of this fiscal year was Rs 65.2 million, a decrease of 23.16% from July-September 2019-20. The company also stated that holiday demand is strong (so far), especially in the automotive sector.
The Indian branch of Swedish auto parts manufacturer SKF expects that in the case of a recovery in demand, regardless of the industry's growth rate, Sweden's share of the industry caters to will increase significantly.
The country’s leading bearing manufacturer stated that its net profit for the September quarter of this fiscal year was Rs 65.2 million, a decrease of 23.16% from July-September 2019-20. The company also stated that demand during the holiday season has been good (so far), especially in the automotive sector.SKF India has three manufacturing plants in Pune to meet the needs of the automotive and industrial electrical fields, Bangalore for the automotive and industrial fields, and Haridwar is divided into two parts.The industrial sector accounts for 55% of SKF’s total business in India, and the remaining 45% comes from the automotive sector.
"We are focused on gaining share, regardless of the performance of the industry, regardless of its outstanding performance or slow progress, I hope that SKF's share will be much higher than the (industry) growth rate," SKF India General Manager Manish Bhatnagar said in an interaction Said in.He added: “In the automotive sector, we hope to gain more shares in the two-wheeler and tractor sectors, while in the industrial sector, we hope to gain shares in many sectors.”He said that growth is expected to come from infrastructure-related industries such as steel, cement, construction equipment, and industries related to consumer demand such as textiles, food and beverages. Bhatnagar added: "We are focusing on the areas we are attracting, the customers we can chase and the suppliers we need to expand."He said that demand for auto parts is recovering, but it is difficult to predict the long-term sustainability of auto parts. Sweden SKF bearing 23060 CC/W33 bearings online , want learn more about , pls contact us .
Bhatnagar said that the growth rate of automobiles is much faster, about faster than the growth of industry, and the growth of industry is only low single digits.He said: "During the holiday season, demand has been very good (so far), and the automotive industry has performed well in terms of holiday demand." He added: "So far, we have been following the trend. The prospects for the next few days are very good. Strong."He said: "At the moment, due to the long-term lockdown, demand may be suppressed, or it may be due to the backlog of the holiday season."
However, he added that only when the sales figures for November are released in early December will the actual nature of demand and the way the holiday is booked.
Regarding the recovery of demand in the automotive industry, he said: “I think two-wheelers and tractors have resumed growth, and the systemic problems in the commercial vehicle field can be traced back to the corona period, such as axle load regulations, which, as the festival approaches With the introduction of new models early next year, it will begin to show growth.
Bhatnagar said: "I don't think the CV segment will recover anytime soon. It may start to grow around 2022. But other industries will recover faster than CV."
He also said that although supply chain issues have not yet been resolved, they have no impact on SKF India's business because it has the "best" supply chain mechanism in the country.