Braking news for auto part firms who're hoping for a rebound in 4th quarter

Component manufacturers are grappling with the fallout of slowing passenger and commercial vehicle sales

Abhishek Jain, the CEO and MD of auto component maker PPAP Automotive, had set an aggressive revenue growth target of 15 to 18 per cent for the 2018-19 financial year. A strong growth in the first two quarters ensured a 15 per cent revenue jump in first half of the year. But then sales went downhill.

The high-growth trend started to taper off after September. Demand for all types of passenger vehicles — cars, vans and utility vehicles — saw a marginal decline in the second quarter when manufacturers build large inventory with dealerships to meet the festive season demand