Fiat’s Interest in Indian automotive OEMs
Indian is already known as a hot destination for cheap OEM components. The car OEM component business is one of the fastest growing sectors in the country. The vendors here source not only to domestic brands but also to foreign made cars.
The need for manufacturing the components is due to the fact that they are cheaper by 15 percent than other countries. Exports of auto components have increased by 25 to 3.6 billion in the last fiscal year.
In order to take advantage of this, Fiat Group has planned to source 250 million euros from current 30 million euros, which is eight times more than its current buy. Fiat has formed a team of eight which will be increased to more than 50 persons in a few months, to sources vendors for OEM components.
Fiat owns some of the best known brands Aston Martin and Ferrari. By sourcing products from India, Fiat plans to become more competitive in the market.
Labels: Fiat Motors, Indian Automotive OEMs
1 Comments:
Fiat is showing interest in Indian vendors very late. The Indian vendors have for years been supplying products for Merces and BMW for several years. I hope Indian will now become a part of the Fiat luxury cars group.
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