Increasing vehicle production along with proliferating consumer preference for comfort and fuel-efficient vehicles will propel growth in the automotive wheel market.

The Government of India and Indian automotive industry’s vision plan referred to as ‘Automotive Mission Plan 2016-26 – AMP 2026’ highlights that the automotive industry with a growth at CAGR of 13 to 15 per cent will have an output of Rs 16,160 billion and Rs 18,895 billion in 2026

India Ratings and Research has also maintained a negative outlook on its rated portfolio for FY21

Apart from Government’s MSMEs export reforms, very few provisions in the budget 2020 might help to bring industry out of the gloom.

Amid slowdown blues, the industry is hopeful to see a positive growth in the coming year. Upward trend in sales in the quarter is In an SIAM observation.

The industry production fell by 13.07 per cent between April and December, 2019 compared to same time in 2018.

According to an India Ratings report, the vehicle scrappage policy would improve demand for used CVs but not contribute meaningfully to revive demand for new CVs in the short term.

BharatBenz, a commercial vehicle brand of the Daimler group, has taken stern action against the Pyken Industries for manufacturing and selling spare parts bearing the mark BHARATBENZ and operating an unauthorised domain under their brand name.

The company has taken action as the use of non-genuine parts, damages DICVs reputation as it potentially impact the efficiency of the vehicle and compromises the safety of the driver, goods, passengers and bystanders.