Setco Automotive Limited, one of India’s largest manufacturers of MHCV clutches and a premium supplier of truck components, has announced the successful shipment of flywheels and covers, manufactured by its subsidiary Lava Cast, to the US market.

The consignment contains covers made for aftermarket distributors and remanufacturers as well as flywheels made for the top auto and auto auxiliary companies in the US. As Setco seeks to take advantage of the rising demand for premium automobile components in global markets, this shipment marks an important turning point in the company's exporting history.

A key factor in the fabrication of these flywheels and covers was Setco's state-of-the-art Lava Cast facility, which has a fully automated production line. Precision, consistency and cost-effectiveness are guaranteed by the facility, giving it a competitive advantage in international markets. Setco intends to expand its global operations for castings, clutches and flywheels through Lava Cast, which may significantly boost the business's total earnings.

Harish Sheth, Chairman & MD, Setco Automotive Ltd, said, “This recent export shipment is a testament to our strategic initiatives and relentless efforts over the past few years. The competitive edge of our Lava Cast products, coupled with the higher margins offered by export markets, positions us strongly for sustained growth. We firmly believe the worst is behind us, and now is the time to reap the rewards of our hard work. As we expand our presence in both domestic and international markets, we remain committed to delivering superior quality and innovative solutions to our customers worldwide.”

Portugal-headquartered Sodecia Group has inked a strategic long-term partnership with German automotive supplier Huf Group. Sodecia is set to acquire a minority stake in Huf Group along with commitment to increase its shareholding by 2028.

Furthermore, Sodecia will provide significant funds and enable Huf to execute its future growth strategy, along with Rui Monteiro, CEO and owner of Sodecia, will also become the new CEO of Huf next year.

It was last year that Huf had begun the search for a strategic partner to attain its growth targets in line with its new corporate strategy ‘Grow beyond’. Sodecia is set to acquire 30 percent initially of Huf's shares and in return will provide significant shareholder funds to execute future growth strategy.

The partners have further agreed that by 2028 Sodecia will acquire majority of Huf’s shares. All the while, Huf will continue to operate as a separate entity, headquartered in Velbert, Germany and with representatives of the Huf founding families Hulsbeck and Furst as part of Huf’s advisory board. Dirk Fischer will support Monteiro as the COO and Rainer Heupel as CFO.

Ulrich Hulsbeck, Chairman of the Huf Advisory Board, said, “Sodecia is the ideal partner for Huf. The family-owned company from Portugal has extensive expertise and resources that will enable Huf to not only strengthen its operational excellence, but also to invest in even more innovative car access and authorisation solutions.”

Florian Graf, Deputy Chairman of the Huf Advisory Board and a descendant of the second Huf shareholder and founder family (Furst), added, “We have built a very solid foundation of trust with those in charge at Sodecia and in particular with Rui Monteiro over the past months. We are pleased that Monteiro will take over the role of CEO at Huf next year. Tom Graf will leave Huf on 31 December 2024. We would like to thank Graf for his successful work over the last six years restructuring Huf and wish him all the best for the future.”

Rui Monteiro, CEO and Owner, Sodecia, stated, “Huf has enormous potential and I am looking forward to working with its employees. Huf has full order books, a future-proof product portfolio and dedicated teams worldwide. With Huf, we are gaining an established, global partner for the Sodecia Group with high reputation at automotive manufacturers and also known for top quality. The entire Sodecia Group and thus our customers, but also other partners worldwide will benefit from it.”

Huf Group has established its presence in 17 locations in Europe, America and Asia. It is a leading supplier of mechanical, electronic and software solutions for the global automotive industry.

Inalfa Gabriel Sunroof Systems (IGSS), a partnership between Inalfa Roof Systems and Gabriel India, the flagship company of the USD 2.2 billion Anand Group, has an ambitious plan to set up new plants in India’s western and northern auto hubs to meet the rising demand for sunroofs.

It was in May 2023, the two partners had come together to manufacture sunroof in India with an initial investment of INR 1.7 billion with a revenue outlook of INR 10 billion by 2030.

The new expansion is on the back of a robust demand seen by the company and was made by Anjali Singh, Executive Chairperson, Anand Group during Inalfa Gabriel Sunroof Systems first anniversary.

“To meet the rising demand for sunroofs due to the greater premiumisation of the auto sector, IGSS is looking to expand beyond Chennai to other auto hubs, namely the West and North. We plan to be closer to our valued anchor customers across the country and cater to their needs more efficiently via this planned expansion,” she said. 

Jagdish Kumar, Chairman, IGSS, and Group CFO, Anand Group, said: “Our first facility in Chennai is nearly operating at its full capacity, delivering high-quality sunroofs to our respected anchor customers Hyundai Motor India and Kia India. Notably, the plant has produced 130,000 sunroofs in just the 11 months of 2024.” 

The company sees the growth in the sunroof segment on the back of rising popularity of panoramic sunroofs, technological advancements such as smart glass technology and electrically operated systems, are also further contributing to the market's expansion. 

“With the sunroof market set to expand by 40 percent by 2029, IGSS is well-positioned to capitalise on the growing demand. The plan for new plants shows the commitment we have to continue to be the leading player in the sunroof sector,” added Kumar.

Georges Andary, CEO, Inalfa Roof Systems, said, “We believe there can be no potential global growth strategy in the automotive business without India at its core. India is one of the largest, most dynamic, and fastest-growing automotive markets in the world. Inalfa, in collaboration with Gabriel India, sees major potential for further growth in the sunroof segment.”

The Automotive Component Manufacturers Association of India (ACMA) revealed a robust 11.3 percent growth in India’s auto component industry for the first half of fiscal 2024-25, with turnover reaching INR 3,320 billion from April to September 2024.

ACMA Director General Vinnie Mehta highlighted the sector's resilience, supported by steady vehicle sales and exports. Domestic supplies to OEMs rose 11.2 percent to INR 2,830 billion, while exports expanded 7 percent to INR 933 billion, maintaining a USD 150 million trade surplus. Imports grew 4 percent to INR 920.5 billion. The aftermarket also recorded a 5 percent increase, reaching INR 474.16 crore.

“Despite global headwinds, the industry’s performance underscores its adaptability and strong fundamentals,” Mehta remarked.

ACMA President Shradha Suri Marwah noted the return of vehicle sales to pre-pandemic levels. “While two-wheeler sales surged, passenger and commercial vehicle sales remained moderate. Export challenges including rising freight costs, posed hurdles, yet the industry displayed resilience, maintaining stable value growth,” she stated.

Marwah emphasised ongoing investments in technology upgrades, localisation and higher value-added components to meet evolving market demands.

Officials also noted that North America and Europe each accounted for 31 percent of total exports. North America grew 8.3 percent, while Europe held steady. Asia, representing 22 percent, saw a 10 percent uptick.

Asia dominated with 65 percent of imports, followed by Europe (27 percent) and North America (7 percent). Imports from Asia rose 5.5 percent, while those from Europe increased 3.2 percent. North American imports declined by 8.3 percent.

The aftermarket’s 5 percent growth reflects the sector's evolution, driven by the rising penetration of e-commerce and growing demand in rural areas. The trend indicates a gradual shift towards an organised market structure.

ACMA’s review reinforces the auto component sector’s vital role in India’s economy, with strong growth prospects driven by strategic investments and market resilience.

Elaborating on the mood of the industry and outlook for the near to mid-term future, Marwah mentioned, “The festive season brought significant sales across most segments of the vehicle industry. However, reflecting on the past eight months of this fiscal year, while two-wheelers have shown promising growth, sales of passenger vehicles (PVs) and commercial vehicles (CVs) has been relatively moderate. On exports front, with geological challenges, delivery time and freight costs have once again gone up. That said, in value terms, the industry remains in robust health, signalling stability and resilience amidst evolving market dynamics. The components industry continues to make investments for purposes of higher value-addition, technology upgradation and localisation to stay relevant to both domestic and international customers.”

Germany-based tier 1 automotive supplier Continental’s Supervisory Board has given its approval to Olaf Schick, the Executive Board Member for Finance, Integrity and Law, to step down from his role effective 30 September 2025.

The auto industry veteran had held the role of Chief Financial Officer (CFO) at Mercedes-Benz Group China and also as Chief Compliance Officer at Daimler AG and CFO at Mercedes-Benz Russia. He joined Continental’s Executive Board in May 2023 and took over as the CFO on 1 July 2024.

Wolfgang Reitzle, Chairman of Continental’s Supervisory Board. The spin-off is still subject to approval by Continental AG’s Supervisory Board and Annual Shareholders’ Meeting, said, “Olaf Schick remains fully committed to driving forward the preparations for the spin-off and planned stock-market listing of the Automotive group sector until his departure.”

Nikolai Setzer, CEO and Chairman of the Executive Board, Continental, said, “We are saddened by Olaf Schick’s decision to step down early. At the same time, he continues to enjoy the full trust of all board members and the entire organisation. We look forward to working together to successfully transform Continental and increase its value.”

Olaf Schick  added, “The preparations for spinning off automotive and transforming Continental are groundbreaking challenges, and I will continue to dedicate myself to them with passion and unwavering commitment until my departure.”