The Japanese car component maker, Toyoda Gosei, shall now be entering in to this new segment with its low cost car components. It currently manufactures body sealing parts, safety components like airbags, interior/exterior parts, etc. It is a part of $5 billion Toyota group and is one of the main suppliers to auto giants like Honda, Toyota, Nissan and General Motors. In India, it has joint ventures with Kirloskar for interior/exterior components and with Metzeler Automotive Profile India for body sealing parts.
The ulta-cheap or the low cost car segment is booming. It is not luring the consumers or the auto giants but also the auto component makers. It has made the car parts makers to sit up and take notice of the rising demand of car components in this segment. Each day more international suppliers are getting attracted towards this new emerging market. "We are developing technologies to manufacture low-cost products, and would even set up a research and development (R&D) lab in the country to support this" said Takashi Matsuura, Toyoda Gosei President.
