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Metal Casting Technologies : March 2007
www.metals.rala.com.au 42 FEATURE by the performance. We have had two years of moderate growth, and last year's was single-digit. Plus, the excise-tax policy has paid off and if infrastructure is available, the dream of India becoming a small-car hub will also come true.'' India is dominated by motorized two-wheelers (as the largest manufacturer-exporter of two-wheelers); but passenger cars represent a high-growth segment. BAH and McKinsey estimate that India's domestic market of 1M passenger cars (70% small cars) will double by 2010, crossing 3.5M by 2015. India is likely to grab 3%-4% of the global components market (US$700B) by 2015. Foreign direct investment is likely to reach US$8B that year. More than 50 new car models are to be launched in the next 12 months, the Society of Indian Automobile Manufacturers reports. "In recent times, new models have done very well, and people have come to believe that these are the most effective way to grab eyeballs," said Dilip Chenoy of SIAM. Renault announced plans to build a plant In India with its Indian partner Mahindra. Mahindra will turn out .5M cars a year by 2012. India offers "important opportunities for growth and profitability", Renault's Carlos Ghosn announced; the plant will assemble a no-frills Logan car. "Indian domestic vehicle sales are growing by double-digit figures, and when you compare that with anemic rates in the US and Europe, you see why they're coming," said Chenoy. KOREA As the world's sixth car maker, Korea's automotive aftermarket is estimated at US$2.2B. As more imported passenger cars enter Korea, and as Korean consumers develop a greater appetite for high quality auto parts and accessories, the import aftermarket is forecast to grow steadily. If US/Korea Free Trade Agreement negotiations conclude successfully, it will have a favorable impact for U.S. auto aftermarket suppliers; it will lift the 8% duty Korea levies on automotive parts imports. Foreign suppliers need to be aware of the fierce competition from long-established domestic suppliers, JVs, and imports from Japan, China, Europe. To successfully compete in Korea, foreign suppliers need products that provide a cost or technological advantage. They also need to educate end-users about the advanced features of their products. Specific aftermarket products with niche market opportunities include safety equipment, precision measuring equipment, window films, fuel additives, automotive lubricants, horns, battery testers, and tire repair parts. Prior to entering the Korean automotive aftermarket, foreign suppliers are researching the market thoroughly, assessing the marketability of their products, and using new marketing and sales strategies. In summary, India will likely become the world's third-largest automobile market by 2030, behind China and the US. Over the next 25 years, more autos will be sold than in the industry's entire history. China's projected size is 62M; US is 23M; India is 20M. By 2017, India's auto market is projected to surpass Japan's. ● ® ITALPRESSE Also published by the Institute of Cast Metal Engineers (ICME): Foundry Trade Journal: the leading international journal for the global cast metals industry, packed with news, technical features and market information. Diecasting World: published twice a year, the only publication dedicated to diecasting. Circulated to end users, Castings Buyer is published annually and is the only publication promoting cast components to various markets. Foundry Yearbook and Castings Buyers' Directory 2007 New updated version now available! Includes all uk foundries and international suppliers. Subscriptions and General Enquiries: Yvonne Marriott Tel: +44 (0)121 601 6979 • email: email@example.com Editorial Offices Institute of Cast Metals Engineers, National Metalforming Centre, 47 Birmingham Road, West Bromwich, West Midlands B70 6PY UK Tel: +44 (0)121 601 6979, Fax: +44 (0)121 601 6981