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Auto Components
The Current Status
  • The global auto component industry is estimated to be US $ 1.2 trillion in value and is likely to increase to US $ 1.7 trillion by 2015 as per ACMA. Sourcing from low cost countries is likely to increase from US $ 65 billion in 2002 to US $ 375 billion by 2015.
  • The Indian automotive industry has the potential to emerge as one of the largest in the world. The country already ranks number Two globally in the two-wheeler segment, and is next only to China. It ranks 11th in car production and 13th in commercial vehicle production globally. With growing industrial production and increasing spending power of the Indian middle class households, the country is expected to make it to the top five markets in cars and commercial vehicles by 2020.

    Components Type-Wise Market
    Engine Parts 31%
    Drive Transmission & Steering19%
    Body / Chassis12%
    Suspension & Braking12%
    Equipment10%
    Electrical9%
    Others7%
  • As per an Automotive Component Manufacturers Association of India (ACMA) report, the turnover of the Indian auto component industry was estimated at over US$ 18 billion in 2007-08, an increase of 27.2 % since 2002. It is likely to touch US$ 40 billion by 2015-16.
  • In 2006-07, the auto component sector saw sales worth around US$ 15 billion, with US$ 2.8 billion as exports. In 2008-09, the automobile industry grew by 2.96 % to 11.17 million units but the components industry outpaced the vehicle manufacturers with a 6 % growth. Last year (2008-09), the total value of auto parts sold was Rs 76,300 Crores.
  • In volume terms, nearly 34% of the market is contributed by auto components for two/three wheelers. Passenger cars contributed nearly 33 % of the total component market, driven by the buoyant car market in India. Commercial vehicle (CV) components currently account for around 24 % of the market, emerging as the most lucrative segment. The CAGR achieved by components for two wheelers and cars were 14 % and 15.6 % respectively during the same period.
  • During 2007-8, India exported auto components valued Rs.7232.25 Crores. Of this, Chennai alone exported Rs.2720 Crores (37.61%).
  • The auto component industry in India is highly fragmented and has around 600 organized players and more than 800 unorganized players. It is estimated that, the organized players account for around 77 % of the production.

    Projection for Automobile Production (in units)
    Year Passenger Vehicles Commercial Vehicles Three Wheelers Two Wheelers Tractors
    2010 - 11 2283659 535765 775343 15366462 450100
    2011 - 12 2539997 576064 878583 17849003 491365

      

      


    Forecasted Capacities (in numbers)
    Year Passenger Vehicles Commercial Vehicles Three Wheelers Two Wheelers Tractors
    2010 - 11 2854574 669706 969179 19208078 562625
    2011 - 12 3174996 720080 1098229 22311254 614206
    Source: SIAM

    Projected Auto Component Exports ( in million US $ )
    2010-11 6865
    2011-12 8973
    Source: SIAM
  • The Government has envisaged the Automotive Mission Plan 2016 to promote growth in the sector. It targets:
    • Emerging as the global favourite in the area of design and manufacture of automobiles and auto components.
      • Taking the automobiles and auto components output to US$ 145 billion, accounting for more than 10 % of the GDP.
      • Offering additional employment to 25 million people by 2016.
      • The auto parts industry has emerged as one of India's fastest growing manufacturing sectors, growing at a compound annual growth rate (CAGR) of 28.9 % in value terms between 2002-03 and 2006-07.
  • Investments in the auto component industry were estimated at US$ 7.2 billion in 2007-08 and are likely to touch US$ 20.9 billion by 2015-16.
  • Auto components in Tamil Nadu: Tamil Nadu accounts for 35% of India's auto components production (US$ 6.2 billion). The industry, over the years, developed the capability of manufacturing all components required to manufacture vehicles, which is evident from the high levels of indigenization achieved in the vehicle industry as well as the components developed for the completely Indian made vehicles.
  • Some of the big names are: Visteon, Delphi, Robert Bosch, Lear, Hwashin, Motherson, Unipress, Valeo, Mando, etc., have large manufacturing facilities in Tamil Nadu. Three Chennai based industrial groups namely TVS, Rane and Amalgamations Groups consititue more than 22% of India's components production. Some of them have won prestigeous Deming awards, GM Supplier of the Year, etc.
  • The Indian Tyre Industry: India is one of the few countries which has attained self sufficiency in tyre production barring the production of some types of vehicles tyres, air-craft tyres and snow tyres. India has constantly been exporting the tyres to almost 65 countries. The total installed capacity is 850 lakhs units against which 650 lakhs units were produced in the year 2006-07 of which 620 lakhs units were consumed domestically. Chennai currently has manufacturing facilities of MRF (2 plants) and Dunlop. Besides, MRF is in the process of establishing another facility at Perambalur at a project cost of Rs.900 Crores. Apollo Tyres is establishing a large facility in Oragdam. Another MNC is also considering to establish a large manufacturing facility in Chennai. With all these, Chennai and Tamil Nadu is set to be one of globally largest hubs for tyre manufacturing.
The Market
  • According to an Ernst & Young analysis, passenger vehicle sales in the country will grow at a CAGR of 12 per cent to touch 3.75 million units by 2014 as against 1.89 million units at the end of 2008-09. While domestic market is expected to contribute 2.75 million units to the total tally, the remaining 1 million units would contribute towards exports.
  • With 6 car projects namely Ford, Hyundai, BMW, Renault, Nissan and Mitsubishi-HM, Chennai is now emerging as one Top 10 Global Automobile manufacturing centers. By 2010-11, Chennai will have an installed capacity to produce 12,80,000 cars and about 3,50,000 commercial vehicles each year. This translates to 3 cars output every minute and one Commercial vehicle every 75 seconds. During 2008-09, Chennai produced 5.60 lakhs passenger cars accounting for 30.6% of India's production.
  • Since the mother plants operate on "Just-In-Time" principle, Government of Tamil Nadu has promoted Vendors' Parks along adjacent to the mother plants by Nissan, Daimler, Renault, etc., These Vendors' Parks a large number of ancillary projects notwithstanding the recession.
  • India enjoys a cost advantage with respect to casting and forging as manufacturing costs in India are 25 to 30% lower than USA and EU.
  • The exports of auto components industry reached around US$ 2.8 billion in 2006-07 and at a CAGR of 40 % between 2002-03 and 2006-07. Exports of auto components were growing at the rate of 35 % during 2002-07 and touched US$ 3.6 billion in 2007-08. It is estimated to reach around US$ 20 billion-US$ 22 billion by 2015-16. A majority of Indian exports are sent to Europe and North America.
  • Exports from Tamil Nadu: Export of Transport equipment including components was rs.6645 Crores (2006-07) and Rs.6401 Crores (2007-08). Chennai is the largest exporter of both automobiles and components.
  • From a low-key supplier providing components to the domestic market alone, the auto components industry in Chennai has emerged as one of the key auto components centers in Asia and is today seen as a significant player in the global automotive supply chain. Chennai is now a supplier of a range of high-value and critical automobile components to global auto makers such as General Motors, Chrysler, Toyota, Ford and Volkswagen amongst others.
  • Considering the market potential, the Investment Commission has set a target of attracting foreign investment worth US$ 5 billion for the next seven years to increase India's share in the global auto components market from the existing 0.9% to 2.5% by 2015.
  • As per an Automotive Component Manufacturers Association of India (ACMA) report, the turnover of the auto component industry was estimated at over US$ 18 billion in 2007-08, an increase of 27.2 % since 2002. It is likely to touch US$ 40 billion by 2015-16.
Why Tamil Nadu?
  • Chennai has emerged as India's largest automobile and auto components exporter in India. Hyundai has made Chennai the manufacturing and export hub for its small cars. The 'i10 and i20' are being manufactured only in Chennai and exported to the world. Chennai is Hyundai's largest base outside Korea.
  • Tamil Nadu the most cost-effective location.
  • Abundant availability of skilled manpower in Automobile Engineering - Largest turn-out of skilled manpower in India.
  • Excellent Port Logistics: Two modern ports in Chennai and one in Tuticorin, providing Gateway for exports and imports. Chennai container terminal is the most efficient in India. Chennai Port has dedicated berth for automobile exports.
Government Support
Policy Initiatives
  • The Government of India has taken many initiatives to promote foreign direct investment (FDI) in the industry.
    Automatic approval for foreign equity investment up to 100 % of manufacture of automobiles and components is permitted.
    • The automobile industry has been delicensed.
    • There are no restraints on import of components.
    • Automatic approval for foreign equity investment up to 100 % of manufacture of automobiles and components is permitted.
  • Government of Tamil Nadu offers an attractive Package of Incentives depending on the size of Investment and employment as per Industrial Policy 2007.
  • Land allotment in different Industrial parks and SEZs. SIPCOT has promoted 2 SEZs for Engineering products including automobiles.
  • State Government provides Infrastructure support in the form of power, water, connecting roads, drainage, etc.
  • Single window facilitation through Guidance Bureau of Government of Tamil Nadu.
  • NATRIP: Govt of India is currently implementing a project "National Automotive Testing R&D Infrastructure Project" (NATRIP) in Oragadam near Chennai at a project cost of about Rs.450 Crores. This project aims at facilitating introduction of world-class automotive safety, emission and performance standards in India as also ensure seamless integration of our automotive components industry with the global industry.
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