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During the first half of 2021, EU commercial vehicle registrations went up by 36.9% to 1 million units, reflecting the contribution of the big gains recorded between March and May 2021. Most of the region’s markets posted double-digit percentage gains, including the four largest ones: Italy (+53.7%), Spain (+38.4%), France (+36.4%) and Germany (+21.7%).
In UK commercial vehicle (CV) production grew to 5,808 units in June 2021. The production increased 39.6% compared to the same month in 2020, when many plants were operating at reduced capacity because of pandemic restrictions.
Mercedes Benz Citaro employs ZF Power Steering whereas Mercedes Benz Tourismo model has ZF 8098 Servocom steering system. Volvo uses ZF Hydraulic Power steering system
In China, suppliers are facing two major problems, 1) There is an intense price war (not sustainable in the long run) among suppliers and 2) OEMs are putting up ambitious sales targets which are of-course followed by multiple downward revisions throughout the year. In these circumstances it will be very difficult for any supplier to improve their revenues and gross margin.
Passenger commercial vehicle segment experienced a washout year in FY-2021 ended in March 2021. Sales of passenger medium and heavy CVs dropped 81.7% year-on-year and those of passenger light CVs dropped 73.6%, even as the goods counterparts of these sub-segments dropped just 16.8% and 11.5%.
In India, TATA MOTORS Buses are provided with Hydraulic power steering with adjustable steering column as Steering system. Some of the other OEMs and the steering system fitted in them were
As we enter into the period of slow recovery post the pandemic, most global producers would be looking at changing strategy by adopting a faster and leaner approach to fast-altering marketing conditions. But the challenge is arduous for those with a limited bandwidth.
The outbreak of Covid-19 automotive industry has been drastically impacted, it also has significantly impacted the product demand and supply chain activity, hampering the growth of the market. Factors such as disruptions in the supply chain, permanent closing of small factories owing to the economic crisis, and unavailability of laborers have impacted the growth of the automotive steering system market severely. It also has affected consumer purchasing behavior, as people are focused on buying essential goods owing to the economic crisis. However, the manufacturing plants, the automotive industry, and several other businesses are functioning slowly, which is hindering the automotive steering system market.
Governments and authorities around the globe-imposed restrictions on transport and mobility at an unprecedented scale and magnitude. Physical distancing had a significant impact on mobility behavior and preferences. Many people switched to a transport mode that reduces the risk of infection. Many cities across the world saw that private cars, walking, and biking have gained the most share since the pandemic began, while bus ridership declined. This has resulted in low demand for the bus market.
JTEKT and Nexteer are specialist steering suppliers who also have an adjacent drive-line business.
Japan headquartered JTEKT generates ~$6-$7 billion per annum from its steering system business and is a preferred supplier to many Japanese OEMs. It had more than 25% share of the global automotive steering system market in 2019.
ZF, Bosch and Nexteer are market leaders in the commercial vehicle segment.
Nexteer is the market leader in North America and GM North America is its biggest customer (derives ~30% of its global revenues), followed by other OEMs.
Mando’s penetration into HKMC’s medium-duty commercial truck ADAS business and its new business for the widening opportunities secured it a large-scale suspension order from VW and this has increased the net profit of the company.
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