ZF Services is all set to expand its existence in India’s passenger car segment. The company, today, announced the launch of its range of passenger car components. Under this expansion plan they will add 66 new steering and suspension components for the Indian market. The range also includes steering components from Lemförder for the popular mass segment vehicles from Mahindra & Mahindra, Tata Motors, Ford and General Motors.
As a part of this expansion strategy, ZF Services aspires to capture 12 per cent of the market share for Lemförder components in the passenger car segment by 2016-17.
Commeting on the move Vijay Khorgade, Head of ZF Services in India said, “There is great potential in the Indian market. While this year has been difficult, we believe that the long-term prospects are bright. ZF Services entry into the mass passenger segment intends to tap the huge market potential. We are confident that with our strong product brands, we will be in the best position to service customers in the aftermarket for the Passenger Cars segment. We are further developing ourselves in the diverse segments, bringing in new and technologically advanced product solutions and service offerings into the automotive and non-automotive market in a strategically important market like India.”
At the beginning of the year, ZF Services in India introduced its range of latest clutch products and shock absorbers from Sachs, rubber and metal parts along with steering components for high-end vehicles. The range included components for some of Audi, BMW, Skoda, Mercedes and VW cars.
The expansion strategy of the company has been formulated keeping in mind the prowess of the Indian passenger car market.