Volvo Car Corporation, the Swedish automakers, will outsource components worth $99 million from India this year. To get a grip in the growing demands for automotive parts Volvo will join international automakers like General Motors Corporation and DaimlerChrysler in Outsourcing the auto components.
The components that are expected to be outsourced from India are engine parts, steering parts, body chassis, suspension, braking parts, general equipment, and electric parts. In this 36 percent exports are heading for Europe. Due to this new outsourcing, the industry exports will jump from $1.8 billion of 2004-2005 to $5.9 billion in 2008-2009. Such big numbers make my head spin!
Volvo is a part of the Premier Automotive Group and one of the luxurious brands owned by Ford Motor Company. The Volvo group of India has been outsourcing components from major Tier 1 and Tier 2 companies such as Minda HUF, Visteon, Arvin Meritor, Sundaram Clayton, and Rico Auto.
The components that are expected to be outsourced from India are engine parts, steering parts, body chassis, suspension, braking parts, general equipment, and electric parts. In this 36 percent exports are heading for Europe. Due to this new outsourcing, the industry exports will jump from $1.8 billion of 2004-2005 to $5.9 billion in 2008-2009. Such big numbers make my head spin!
Volvo is a part of the Premier Automotive Group and one of the luxurious brands owned by Ford Motor Company. The Volvo group of India has been outsourcing components from major Tier 1 and Tier 2 companies such as Minda HUF, Visteon, Arvin Meritor, Sundaram Clayton, and Rico Auto.
Labels: Ford, Indian car market, Outsourcing auto parts, Profit industry, Volvo
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