NEW DELHI: As the country recovers from COVID-19 from the pandemic, a similar trend is expected around the world, Laksh Vaaman Sehgal, vice chairman of Motherson Group, a leading auto component supplier in China, told The Economic Times. It has also appeared in other regions, helping the market. It will bounce back in the next few months.

Surprisingly, demand is recovering strongly (in China), which bodes well for our industry. Customer demand has returned to pre-COVID-19 levels and the market is strong. The market is strong,” said Segal.

Production is expected to increase in the coming months as global manufacturing facilities gradually recover in the coming weeks. Suppressed demand is expected to be in the 6 point months to 8 helping the market rebound to COVID-19 months In addition, consumer preference for private vehicles over public transportation is expected to increase sales in the automotive industry in the near future.

PM Sehgal said, “I am happy to see the recovery in China and believe that other countries should follow suit.”

“The number of customers visiting (car) dealerships is further confirmed by the strong growth of customers (in China) and the fact that there are still people who choose private transportation over public transportation for health reasons.”

Motherson, which has a manufacturing plant in 41 a country around the world, said most of its plants will be operational by the middle of next month. The company has resumed production at its plants in China and South Korea. Plants in Europe and India are expected to start operations in the coming weeks. The group is taking lessons learned from its China operations and rearranging assembly lines at other plants around the world to safely resume operations and ensure social distance.

Segal said the group was being financially prudent and renegotiating with suppliers where possible to avoid “significant” financial losses to either party. But Matheson is not taking extreme cost-cutting measures as he expects the market to return to normal.