The continual rise in passenger car sales numbers for the last 5 months has given auto parts giants such as Montherson Sumi Systems a lot of reasons to draw focus. The company based in Noida earns near about 80% of its revenue from outside India, mainly from Germany.
The company that is leading maker of automotive wiring harnesses and mirror for passengers cars already has all major original equipment manufacturers (OEMs) as its client. It is also a leading supplier of plastic components and modules to the automotive industry. Now it plans to increase more content per car in India to capture the upcoming opportunities.
The Indian automobile industry has begun witnessing a period of very weak demand for three years now.
However growth is expected with the auto parts industry witnessing significant growth.