The global automotive components industry has been having mixed response from the OEMs across the globe, depending on the market dynamics of each region. While most of the companies strive to make the mobility of tomorrow more safe, comfortable and efficient, they have to face many challenges ranging from site selection, raw material sourcing, production to despatching to the OEMs.
Another problem is the changing regulations and the related technologies that fuel faster obsolescence. The suppliers are pulled in different directions by high-technology, low volumes and cost competitiveness. The only viable and sustainable solution is innovation. Innovation is the key to stay afloat.
One particular aspect of the strategy of many suppliers is the focus on Asia Pacific, since it has been the fastest growing region for them. However, for the Indian companies mind-set has been the major impediment in going global. With an innovative approach the Indian companies also can compete globally.