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Auto companies cut output targets as steel supplies fall short
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Synopsis
The production schedules for the ongoing fiscal Q4 are being revised downward by 15-20%, which could potentially mean a loss of over 1.5 lakh units in the January to March quarter for the industry.
Agencies
While this affects two-wheeler and commercial vehicle segments as well, the impact may not be as pronounced as in passenger vehicles, as the demand-supply scenario is much more relaxed.
Mumbai | New Delhi: At a time when the inventory at automobile dealerships is at a record low, a significant shortage of steel supplies and higher price of the key raw material have led to a sharp revision in the production schedules for the fourth quarter at leading carmakers.
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In October 1999, I had written about an old building in my neighbourhood, which still exists in 2021, in the same condition. It has been neglected by the owner, who receives just Rs150 as monthly rent from each of the six tenants in this two-floored apartment building, built in about 1956.
The tenants will not move out, nor allow the rent to be increased. Nor will the tenants cooperate with each other to maintain the building, manage the common areas and services like water, or the large area in front filled with weeds and puddles, instead of what could have been an attractive garden.
The FAB Challenge
Lack of semiconductor manufacturing is turning out to be the biggest hurdle in India s tryst with self-reliance in electronics. It requires out of the box thinking by government and industry
Illustration by Raj Verma
India s largest automotive component maker Bosch faced an unforeseen situation in early December - shortage of semiconductor components. The reason was surge in demand for consumer electronics globally due to work from home and rise in adoption of 5G in household appliances.
This could not have come at a more inappropriate time. Demand for automobiles was just beginning to rebound after a torrid first half of the year when production was disrupted due to lockdown in April-May. Another disruption can impair the recovery, which is what Bosch warned in a letter to market regulator Sebi. Imports of Bosch Ltd have been impacted with severe shortage of imported micro-processors (semiconductors), leading to reduced ability to deliver to the automotive
Indian automakers fear container shortage to hit parts supply, output business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.