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India currently has about 600 members participating in trade union organizations, and up to 5,000 privately-owned enterprises. Therefore, in the distribution ratio of auto parts, about 55% of the original parts are manufactured, another 35% is using substitutes, and the remaining 10% is for export.
On the other hand, the challenge comes from vehicle companies. Apart from wishing that component suppliers can provide complete assembly systems, they also hope that suppliers can improve the quality of parts and R&D capabilities of enterprises and establish a global sales chain for auto parts. .
According to statistics, in the auto parts market in India, the original factory parts accounted for only 39.9%, local companies only 22.5%, and 37.6% were fake and shoddy products. Due to the low manufacturing cost of fake and shoddy products, which is only 1/3 or 1/4 of that of the original manufacturer, the profit gained is as high as 17% to 26%. The poor quality of fake and shoddy products and the rapid loss will not only increase maintenance costs, but also cause traffic accidents. High fuel consumption will cause environmental pollution.
India's original parts supporting companies face challenges
According to recent statistics, 38 major component manufacturers, which account for 45% of India's total turnover in the spare parts industry, have increased their turnover in recent years, but their profits have decreased. India's original parts supporting companies face challenges from various aspects.
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