Minda Corp. Expects Auto Slowdown To Ease From August
Minda Corporation Ltd. expects the slowdown in Indian automobile sector to ease significantly from August.
“A lot of changes are happening as the country is moving from BS (Bharat Stage) IV to BS VI (emission) norms,” Ashok Minda, chairman and group chief executive officer of the auto component maker, told BloombergQuint in an interview. “The industry has to produce the inventories and produce BS IV as well as BS VI (products).”
“So, the stock liquidation will happen and further production will take place for BS VI,” he said. “And in the first quarter, I feel there could be some impact in sales.”
As the BS VI norms kick in from April 1, the company’s wiring harness business will get a “big boost”, Minda said.
Watch the full conversation here: