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Leading auto-parts maker Sundram Fasteners expects the components industry to see demand revival from the third quarter of this fiscal amid continuing challenges on account of shortage of semi-conductors.
Arathi Krishna, Managing Director, Sundram Fasteners, in an exclusive interview to BusinessLine , said that the domestic OEMs have reached 80-85 per cent of pre-Covid levels, except for the CV segment, especially heavy commercial vehicles. The replacement market has also shown a good recovery, while exports continue to do well due to increased interest among global OEMs to source from India.
She says tractors, commercial vehicle and the passenger vehicle (PV) segments are showing sustainable recovery trends. The chip shortage situation will affect the PV business in the short run but is likely to get resolved and reach predictable/stable levels by end of Q3.
However, the two-wheeler segment has been impacted by drastic cost increases, in view of new regulatory requirements.
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