INDIA: Component exports to DaimlerChrysler rise - report
DaimlerChrysler India Private Ltd. On Wednesday said India's auto component exports to DaimlerChysler rose 12% year on year to €72 million last year, according to Dow Jones Newswires.
"The auto component exports by India to DaimlerChrysler is a result of the company's strong partnership with major Indian auto component makers, such as Bharat Forge Co.," DaimlerChrysler India chief executive Hans-Michael Huber told the news agency.
DaimlerChrysler India, located in the western Indian city of Pune, is the leading player in India's rapidly growing luxury car market, Dow Jones noted.
Huber reportedly said DaimlerChrysler India had an "exceptionally good year" in 2003, posting a 30% sales growth (to 1,581 units) of Mercedes Benz cars that are priced between $US40,000 and $140,000 in the local market.
But the higher base last year is likely to slow down the sales growth rate to around 25% in 2004, Huber reportedly said, adding: "I don't think there is a realistic hope of repeating last year's performance."