l event of the Automotive Component Manufacturers Association of India (ACMA), the apex body of the Indian auto component industry. This year, the event discussed challenges from geopolitical disruptions, trade barriers, carbon taxes, and reliance on imports of critical materials. The impact of the GST cut on the industry was also highlighted.  There are several factors which can accelerate the industry. It includes rising domestic demand, growi...

Market & Tech Reports  Updated at: 2025/10/09

ssenger vehicle segment started off strong in early August with robust enquiries and bookings for festivals, but momentum faltered in the second half of the month as many customers postponed purchases in anticipation of lower prices following the announcement of a cut in the Goods and Services Tax (GST) rate. In some areas, heavy rains and flooding caused a drop in store traffic. Supply imbalances for high-demand models and aggressive targets set...

Market & Tech Reports  Updated at: 2025/09/26

, causing stock indexes to fall and the rupee to weaken, which could curb consumer confidence and discretionary spending (on vehicles, etc.) due to higher savings and import costs.   To stimulate demand for entry-level models, the Indian government is expected to reduce the Goods and Services Tax (GST) on small gasoline and diesel vehicles under four meters in length and with engine displacements under 1,200cc and two-wheelers under 350cc from 2...

Market & Tech Reports  Updated at: 2025/08/26

hey also procure some product from Japanese cushion suppliers such as Sumisho Airbag Systems Co., Ltd. and Seiren Co., Ltd. (See Analysis Report: Airbag (Japanese Market) for an overview of Japanese airbag cushion suppliers.) Other independent overseas suppliers include Global Safety Textiles GmbH (GST) of Germany (see below) and Dual Co., Ltd. of Korea, which are engaged in cushion sewing as well as base fabric production. Other cushion supplier...

Market & Tech Reports  Updated at: 2025/04/24

ing up prices. With the limited development of small cars and the rising prices of SUVs, more people are turning to the used car market as an affordable alternative. High taxes on Indian cars   India levies significant taxes on automobiles, among the highest globally. A 28% Goods and Services Tax (GST) is imposed on all new vehicles, with an additional cess ranging from 3 to 22%. This can result in an effective tax rate of up to 50%. However, cl...

Market & Tech Reports  Updated at: 2024/12/23

od affiliate of Sumitomo Corporation. The company has OPW (One-Piece-Woven) or jacquard weaving technology that is an integrated, three-dimensional weaving technique that requires no sewing. There are seven suppliers of OPW cushions in the world (Sumisho Airbag Systems, Global Safety Textiles GmbH (GST), Kolon Industries, Inc., HMT (Xiamen) New Material Technology Co., Ltd. (HMT), Elevate Textiles, Inc., Dual Co., Ltd. of Korea, and Indorama Vent...

Market & Tech Reports  Updated at: 2024/09/12

cturers Association of India (ACMA) made several important recommendations to the government for the 2024-25 fiscal year national budget. These include the reintroduction of incentives for capital investment, an increase in depreciation rates in the auto parts industry, and a rationalization of the GST tax rate on electric vehicles and EV parts.   On July 16, the Indian government announced a roadmap to promote research and development in the fi...

Market & Tech Reports  Updated at: 2024/07/26

expects that as battery costs decline over time, the need for EV incentives will diminish as EVs become cost-competitive. Their long-term strategy remains a full transition to electric vehicles. The decision comes after India's Finance Minister declared that there will be no Goods and Services Tax (GST) exemption for hybrid vehicles.   Japan   New vehicle sales in May were 301,000 units, reflecting a decrease of 4.8% y/y (up 0.7% m/m).   Accor...

Market & Tech Reports  Updated at: 2024/06/26

hey also procure some product from Japanese cushion suppliers such as Sumisho Airbag Systems Co., Ltd. and Seiren Co., Ltd. (See Analysis Report: Airbag (Japanese Market) for an overview of Japanese airbag cushion suppliers.) Other independent overseas suppliers include Global Safety Textiles GmbH (GST) of Germany (see below) and Dual Co., Ltd. of Korea, which are engaged in cushion sewing as well as base fabric production. Other cushion supplier...

Market & Tech Reports  Updated at: 2024/04/25

oe Textile 33.3%, and Asahi Kasei 2%. The company has OPW (One-Piece-Woven) or jacquard weaving technology that is an integrated, three-dimensional weaving technique that requires no sewing. There are seven suppliers of OPW cushions in the world (Sumisho Airbag Systems, Global Safety Textiles GmbH (GST), Kolon Industries, Inc., HMT (Xiamen) New Material Technology Co., Ltd (HMT), Elevate Textiles, Inc., Dual Co., Ltd of Korea, and Indorama Ventur...

Market & Tech Reports  Updated at: 2023/09/21

dities and raw materials, which led to price increases of cars. The volatility in raw material prices, owing to disruption in the supply chain, leads to rising input costs.   High taxes   The governmental taxes on Indian vehicles are among the highest in the world. The Indian government applies a GST (Goods and Services Tax) of 28% to all new vehicles with cess (an additional tax) that ranges from 3 to 22%, taking the effective tax rate to up t...

Market & Tech Reports  Updated at: 2023/09/19

ation framework agreement with China Highway Vehicle & Machinery Co., Ltd. in the area of export of heavy-duty trucks as well as the development, manufacturing, and market development of NEV heavy-duty trucks. NEV project SAIC Maxus announced on June 2, 2023, that it has started construction of a GST series pickup truck project in Huishan District, Wuxi City. The total investment is about CNY 3 billion. The core models will be NEV products and ...

Market & Tech Reports  Updated at: 2023/08/01

tput 138kW, maximum torque 300Nm) and 7-speed DCT from the "NetBlue" series, or the 2.0L turbo engine (maximum output 192kW, maximum torque 405Nm) with SAIC's new 9-speed AT. Overall minimum fuel consumption (WLTC mode) is 6.25L/100km. MG Mulan MG7   SAIC Maxus: World premiere of the "GST," a full-size electric pickup truck concept vehicle   SAIC Maxus came to the Auto Shanghai 2023 with a lineup of NEVs and all segments, and under...

Market & Tech Reports  Updated at: 2023/06/05

en Audi Q4 (Hungary) 2019 Lear Seat trim covers Volkswagen Audi A3 Sedan (Hungary) 2018 Lear Rear seat frames Volkswagen Audi A4 (Germany) 2018 Faurecia Complete seats, front and rear Volkswagen Audi A5 (Germany) 2018 Eberspaecher Gruppe Neck heating system Volkswagen Audi A5 (Germany) 2018 GST AutoLeather Leather seat components Volkswagen Audi A6 (Germany) 2018 Brose Fahrzeugteile Seat systems Volkswagen Audi Q7 (Slovakia) 2018 Faur...

Market & Tech Reports  Updated at: 2023/04/27

o procure some product from Japanese cushion suppliers such as Sumisho Airbag Systems Co., Ltd. and Seiren Co., Ltd. (See "Analysis Report: Airbag (Japanese Market)” for an overview of Japanese airbag cushion suppliers.)   Other independent overseas suppliers include Global Safety Textiles GmbH (GST) of Germany (see below) and Dual Co., Ltd. of Korea, which are engaged in cushion sewing as well as base fabric production. In China, there also h...

Market & Tech Reports  Updated at: 2023/04/20

iners and increased shipping costs, the auto industry supply chain was disrupted resulting in production delays due to the non-availability of imported/exported components.   High taxes   The governmental taxes on Indian vehicles are among the highest in the world. The Indian government applies a GST (Goods and Services Tax) of 28% to all new vehicles with cess (an additional tax) that ranges from 3 to 22%, taking the effective tax rate to up t...

Market & Tech Reports  Updated at: 2022/07/15

agen Audi e-tron (Belgium) 2019 Lear Seat trim covers Volkswagen Audi Q4 (Hungary) 2019 Lear Seat trim covers Volkswagen Audi A4 (Germany) 2018 Faurecia Complete seats, front and rear Volkswagen Audi A5 (Germany) 2018 Eberspaecher Gruppe Neck heating system Volkswagen Audi A5 (Germany) 2018 GST AutoLeather Leather seat components Volkswagen Audi A6 (Germany) 2018 Brose Seat systems Volkswagen Audi Q7 (Slovakia) 2018 Faurecia Seats, al...

Market & Tech Reports  Updated at: 2022/06/30

AG Seating system Volkswagen Audi Q4 (Hungary) 2019 Lear  Seats Volkswagen Audi e-tron (Belgium) 2019 Lear Seats Volkswagen Audi A4 (Germany) 2018 Faurecia Front and rear seat sets Volkswagen Audi A5 (Germany) 2018 Eberspaecher Gruppe Neck heating system Volkswagen Audi A5 (Germany) 2018 GST AutoLeather Leather seat components Volkswagen Audi A6 (Germany) 2018 Brose Fahrzeugteile Seating system Volkswagen Audi Q7 (Slovakia) 2018 Fa...

Market & Tech Reports  Updated at: 2021/09/21

aha Motor Pvt. Ltd. Royal Enfield Suzuki Motorcycle India Private Limited (SMIPL) Piaggio Vehicles Pvt. Ltd. (PVPL) Premium motorcycles   India is the largest two-wheeler manufacturer in the world. The two-wheeler sector contributes to 7% of manufacturing GDP in India. It also contributes to 2% of GST revenues. It is estimated that India has around 190 million two-wheelers. At present two-wheeler production accounts for more than 80% of total au...

Market & Tech Reports  Updated at: 2021/07/26

x months in 2020. The Association of Indian Forging Industry (AIFI) requested the government to consider a ban on steel and iron ore exports so that demand of steel within the country can be met in a cost / price effective manner. High Taxes   At present, 60% of the auto components attract an 18% GST rate, while the remaining 40%, a majority of which are two-wheelers and tractor components, attract 28%. There is a constant demand from the ACMA ...

Market & Tech Reports  Updated at: 2021/06/04