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DaimlerChrysler to buy $110 million auto parts from India
By siliconindia
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Tuesday, 11 November 2003, 20:30 IST
NEW DELHI: German-US auto giant DaimlerChrysler AG aims to buy auto parts worth over Rs 500 crore from India during the next two years, a top official of its local unit said.
The local subsidiary, which makes the 'Mercedes Benz' range of cars, meanwhile, hopes to drive its sales up by 17 per cent to about 1,575 units this year, said DaimlerChrysler India director (corporate affairs and finance) S Kadlaskar.
"We should be exporting auto parts worth 100 million euros (over Rs 500 crore) to our parent company in the next two years. This year, it will touch 70 million euros against 63 million euros in 2002," he said, adding the company accounted for eight per cent of total exports of auto parts from India last year.
DaimlerChrysler sources components like forgings, wire harnesses, rubber parts and castings from various suppliers in the country, independent as well as from joint venture firms.
Kadlaskar cited the aggressive cost-cutting measures by the parent company coupled with world-class quality of local components as the reasons for the increase in outsourcing from Indian companies.
He said car sales this year should touch about 1,575 units from 1,345 cars sold in 2002.
This would include 750 units of the 'C-Class', 650 'E-Class', 75 'S-Class' and 80-100 completely-built-units of vehicles like 'SLK', 'CLK' variants and the 'M-Class' model.