Major auto component firms likely to invest up to ₹30K cr next fiscal: ICRA
Top News
1 month ago

Major auto component firms likely to invest up to ₹30K cr next fiscal: ICRA

Live Mint  

New Delhi, Feb 20 Major auto component firms are likely to invest ₹25,000-30,000 crore in the next fiscal for capacity expansion and localisation, including electric vehicle parts, ratings firm ICRA said on Thursday. "ICRA's interaction with large auto component suppliers indicates that the industry is estimated to spend ₹15,000-20,000 crore in FY2025 and another ₹25,000-30,000 crore in FY2026," Vinutaa S, Vice President and Sector Head, Corporate Ratings, ICRA Ltd said in a statement. The rating agency said it expects the revenue growth of the Indian auto component industry to ease to 7-9 per cent in the ongoing fiscal and 8-10 per cent in the next financial year, from the highs of 14 per cent in FY2024. "Demand from domestic Original Equipment Manufacturers, which constitutes over half of the industry revenues, is estimated to grow by 7-9 per cent in FY2025 and 8-10per cent in FY2026," Vinutaa S stated.

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History of this topic

India's Auto Comp Industry on Track for Unprecedented Growth
2 weeks, 4 days ago

India's Auto Comp Industry on Track for Unprecedented Growth

Deccan Chronicle  

New Delhi: India's auto component industry is on the verge of a significant breakthrough, targeting $100 Bn in exports, according to the latest report by Boston Consulting Group, titled "Revving Up Exports: The Next Phase of Export Growth for the Auto Component Industry". Encouraging 2-3 global OEMs to establish manufacturing bases in India can serve as an anchor – helping …

Domestic passenger vehicle sales expected to grow 4-7% in FY26: ICRA
3 weeks, 3 days ago

Domestic passenger vehicle sales expected to grow 4-7% in FY26: ICRA

The Hindu  

Passenger vehicle sales volume in India is expected to grow at a moderate pace of 4-7% in FY26 with most demand drivers remaining neutral or favourable, according to ratings agency ICRA. As for two-wheelers, ICRA said it estimates the industry volumes to grow at a healthy pace of 6-9% in FY26, following an estimated 11-14% growth in FY25. Accordingly, even …

Indian auto ancillary industry to witness slower growth in FY25 and FY26: ICRA
Trending News
1 month ago

Indian auto ancillary industry to witness slower growth in FY25 and FY26: ICRA

Live Mint  

Domestic rating agency firm ICRA expects the revenue growth of the Indian auto component industry to ease to 7-9% in FY2025 and 8-10% in FY2026, from the highs of 14% in FY2024. ICRA estimates the auto component industry to incur a capex of ₹25,000-30,000 crore in FY2026 towards capacity expansion, localisation/capability development, and technological advancement, among others. ICRA expects auto …

Auto component firms to invest Rs 30K cr in FY26
1 month ago

Auto component firms to invest Rs 30K cr in FY26

Deccan Chronicle  

PUNE: The auto component industry is likely to spend Rs 25,000 - Rs 30,000 crore for capacity expansion and localization, including electric vehicle parts in FY2026, said rating agency ICRA on Thursday. The rating agency said it expects the revenue growth of the Indian auto component industry to ease to 7-9 per cent in the ongoing fiscal and 8-10 per …

Auto industry crosses ₹20 lakh crore mark in FY-24; contributes 14-15 pc to total GST: SIAM President
6 months, 1 week ago

Auto industry crosses ₹20 lakh crore mark in FY-24; contributes 14-15 pc to total GST: SIAM President

The Hindu  

The Indian automotive industry has crossed ₹20 lakh crore mark in FY24 and now contributes 14-15% of the total GST collected in the country, SIAM President Vinod Aggarwal said on Monday. "The Indian automotive industry has crossed a landmark figure of Rs 20 lakh crore in FY24.we are contributing almost 14-15 per cent of the total GST collected in the …

Goyal asks auto-component sector to achieve $100 billion export target by 2030
6 months, 2 weeks ago

Goyal asks auto-component sector to achieve $100 billion export target by 2030

The Hindu  

Union Minister for Commerce & Industry, Piyush Goyal on Monday asked the Indian auto component manufacturing sector to achieve an exports target of $100 billion by 2030 so that sector could be one of the largest job creators in the country. Stating that the Indian auto sector would soon become the world leader from currently being the third largest in …

Indian Automotive Component Industry Set to Reach $14 Billion by 2028
1 year, 1 month ago

Indian Automotive Component Industry Set to Reach $14 Billion by 2028

Deccan Chronicle  

Pune: The Indian automotive component industry is expected to touch $14 billion or Rs 116,634 crore by 2028, and the aftermarket segment has a $35 billion or Rs 291,585 crore opportunity, the Automotive Component Manufacturers Association of India or ACMA said on Monday. "The Indian domestic aftermarket, valued at USD 10 billion in 2023, is poised to surge almost 1.4 …

Auto component industry to invest $7 billion over next 5 years: ACMA
1 year, 3 months ago

Auto component industry to invest $7 billion over next 5 years: ACMA

Deccan Chronicle  

Pune: With robust demand in place in the automobile sector, the Indian auto component industry is planning to invest around $ 6.5 to 7 billion over the next five years on capacity expansion and technology upgradation, Shradha Suri Marwah, President of Automotive Component Manufacturers Association of India or ACMA said on Wednesday. The auto component industry, which recorded a 12.6 …

Indian Automobile Industry Witnesses 92 Percent Decline in Deal Activity Due to EVs
1 year, 8 months ago

Indian Automobile Industry Witnesses 92 Percent Decline in Deal Activity Due to EVs

News 18  

India Inc saw just 16 deals amounting to $98 million in the second quarter this year in the auto sector, registering a substantial decline in overall deal activity, with a 92 percent drop in values and 36 percent decrease in volumes, a report showed on Wednesday. The sector recorded a 21 percent growth in domestic sales in FY 2022-23 across …

Indian auto sector sees 92% decline in deal activity amid EV boom
1 year, 8 months ago

Indian auto sector sees 92% decline in deal activity amid EV boom

India TV News  

India Inc saw just 16 deals amounting to $98 million in the second quarter this year in the auto sector, registering a substantial decline in overall deal activity, with a 92 per cent drop in values and 36 per cent decrease in volumes, a report showed on Wednesday. The sector recorded a 21 per cent growth in domestic sales in …

Indian auto industry grows to ₹8.7 lakh crore in FY23: Report
1 year, 8 months ago

Indian auto industry grows to ₹8.7 lakh crore in FY23: Report

The Hindu  

The Indian automobile sector has grown into a ₹8.7 lakh-crore industry by producing 2.7 crore vehicles in FY23, management consulting firm Primus Partners said in a report. Primus Partners said the PV segment grew to ₹5 lakh crore in FY23 and half of the revenue came from mid and full size SUVs. “As per our study, the Indian market is …

Electric vehicle market likely to cross 1 crore sales mark per annum by 2030: Economic Survey
2 years, 1 month ago

Electric vehicle market likely to cross 1 crore sales mark per annum by 2030: Economic Survey

The Hindu  

India's electric vehicles market is expected to grow to one crore units annual sales by 2030 and create 5 crore direct and indirect jobs, according to the Economic Survey 2022-23. The survey tabled in Parliament on January 31 said that in December 2022, India became the third-largest automobile market, surpassing Japan and Germany in terms of sales. The domestic electric …

Passenger vehicle makers to invest ₹65,000 cr by FY25: Report
2 years, 3 months ago

Passenger vehicle makers to invest ₹65,000 cr by FY25: Report

Live Mint  

Carmakers are expected to invest around ₹65,000 crore by FY25 to ramp up production of passenger vehicles in order to cater to enhanced demand, rating agency Icra said on Monday. The passenger vehicle industry wholesale volumes are expected to touch an all-time high of 3.7-3.8 million units in FY23, a growth of 21-24 per cent over the previous fiscal, driven …

Auto component industry likely to clock 8-10% growth in FY23: report
2 years, 11 months ago

Auto component industry likely to clock 8-10% growth in FY23: report

The Hindu  

The Indian auto component industry is expected to clock 8-10% growth in FY23, supported by the easing of supply-chain issues and commodity inflation in the second half of the year, according to rating agency Icra. Domestic OEM demand has remained a mixed bag across segments in FY2022, with a slowdown in two-wheelers and semiconductor shortage dragging down overall production volumes," …

Domestic two-wheeler volume to shrink 1-4% YoY this fiscal: ICRA
3 years, 4 months ago

Domestic two-wheeler volume to shrink 1-4% YoY this fiscal: ICRA

The Hindu  

Domestic two-wheeler volume is expected to shrink by 1-4% year-on-year this fiscal, impacted by relentless increase in two-wheeler prices as well as record high petrol cost, among others, credit ratings agency ICRA has said. ICRA Ratings expects domestic two-wheeler volumes to contract by 1-4% YoY in FY2022, following a weak festive season performance for the industry. While the demand for …

September 2021 car sales: Honda Cars India registers 6,765 units in domestic market
3 years, 5 months ago

September 2021 car sales: Honda Cars India registers 6,765 units in domestic market

India Today  

Honda Cars India Ltd registered monthly domestic sales of 6,765 units in September 2021, as against 10,199 units sold in the same period last year, a drop of 33.66 per cent. Rajesh Goel, SVP & director-marketing & sales, Honda Cars India Ltd said, “On the demand side, there is good momentum in the market with improved buying sentiment. We will …

PLI scheme: Auto component companies hope to pare imports
3 years, 5 months ago

PLI scheme: Auto component companies hope to pare imports

Business Standard  

PLI scheme: Auto component companies hope to pare imports It would also reduce imp­orts from countries like China, Taiwan and South Korea and facilitate foreign collaborators to set up manufacturing footprint in India Premium India imported parts worth $13.8 billion in FY21 while it exported $13.3 billion worth of parts in the same year, according to Automotive Component Manufacturers Association. …

Auto component industry turnover falls for 2nd year
3 years, 7 months ago

Auto component industry turnover falls for 2nd year

Deccan Chronicle  

Pune: The Automotive Compon-ent Manufacturers Asso-ciation of India, on Tuesday said the turnover of the automotive component industry fell 3 per cent year-on-year at Rs 3.4 lakh crore in FY21. He said the vehicle industry in India witnessed two successive years of de-growth of 14.6 per cent in FY19-20 and thereafter of 13.6 per cent in FY20-21. The Acma said …

Budget 2021: Expectations of Indian Auto Industry
4 years, 2 months ago

Budget 2021: Expectations of Indian Auto Industry

News 18  

As Finance Ministry prepares the annual budget scheduled to be presented in February 2021, Indian auto indusrty is hoping for some key announcements to induce confidence in the market again, suffering from dull sales due to COVID-19 pandemic. Here are some key recommendations from Federation of Automobile Dealers Associations, apex national body of Automobile Retail Industry in India- Introduce benefits …

Fiat Chrysler to invest $250 mn in India unit to launch new SUVs
4 years, 2 months ago

Fiat Chrysler to invest $250 mn in India unit to launch new SUVs

The Hindu  

Fiat Chrysler Automobiles NV said on Tuesday it will invest $250 million to grow its presence in India with the launch of four newsport-utility vehicles under its Jeep brand over the next two years. "Our new investment of $250 million will give us acompetitive edge in multiple segments," Partha Datta, managing director for FCA India said in the statement, adding …

Fiat Chrysler to invest $250m in India to rev up SUV offerings
4 years, 2 months ago

Fiat Chrysler to invest $250m in India to rev up SUV offerings

Al Jazeera  

FCA will invest $250m to launch four SUVs under its Jeep brand, a sign that India’s auto sector is reviving. Fiat Chrysler Automobiles NV said on Tuesday it will invest $250m to grow its presence in India with the launch of four new sport-utility vehicles under its Jeep brand over the next two years. “Our new investment of $250m will …

FY2021 Passenger Vehicle Industry Volumes Expected to Decline by 22-25 Percent: ICRA
4 years, 5 months ago

FY2021 Passenger Vehicle Industry Volumes Expected to Decline by 22-25 Percent: ICRA

News 18  

Passenger vehicle industry’s FY21 volumes are expected to witness a 22-25 per cent decline, rating agency ICRA said on Wednesday. “The industry segment’s fortunes are tied with the GDP growth rates and overall consumer sentiments which are currently at historic lows; this recessionary environment has resulted in purchase deferrals," ICRA said in a research note. “While the industry was hit …

Indian auto component industry clocks turnover of Rs 3.49 lakh crore, de-grows 11.7 per cent in FY 2019-20
4 years, 7 months ago

Indian auto component industry clocks turnover of Rs 3.49 lakh crore, de-grows 11.7 per cent in FY 2019-20

India Today  

Automotive Component Manufacturers Association of India, the apex body representing India’s Auto Component manufacturing industry announced the findings of its Industry Performance Review for the fiscal year 2019-20. The turnover of the automotive component industry stood at Rs 3.49 lakh crore for the period April 2019 to March 2020, registering de-growth of 11.7 per cent over the previous year. The …

Automakers tap exports to offset loss in domestic sales
4 years, 7 months ago

Automakers tap exports to offset loss in domestic sales

Live Mint  

Automakers in India are enhancing their focus on exports to grow volumes and partly offset any loss in domestic sales. Firms such as Maruti Suzuki India Ltd, Hero MotoCorp Ltd, Bajaj Auto Ltd and TVS Motor Co. Ltd are expected to push exports in countries that have not been significantly impacted by the pandemic. For instance, Hero MotoCorp Ltd, the …

Coronavirus Lockdown: Auto component industry likely to witness double-digit degrowth in FY21, says India Ratings
4 years, 10 months ago

Coronavirus Lockdown: Auto component industry likely to witness double-digit degrowth in FY21, says India Ratings

Firstpost  

The Auto component industry is likely to witness a second consecutive year of double-digit degrowth this fiscal mainly on account of disruption in operations due to coronavirus pandemic and the subsequent lockdown, according to a report Mumbai: The Auto component industry is likely to witness a second consecutive year of double-digit degrowth this fiscal mainly on account of disruption in …

Automakers warn of up to 45% sales drop as economy slumps due to pandemic; seek govt help in crisis
4 years, 10 months ago

Automakers warn of up to 45% sales drop as economy slumps due to pandemic; seek govt help in crisis

Firstpost  

The auto industry is already reeling, with sales of cars, SUVs, trucks and motorbikes falling 18 percent last fiscal year to 21.5 million vehicles due to an economic slowdown. New Delhi: Automakers have warned that total automobile sales could fall as much as 45 percent in the current fiscal year in a worst-case scenario as economic growth slumps due to …

Auto sector slowdown: Component maker Bosch likely to slash a few thousand jobs in India in next four years
5 years, 2 months ago

Auto sector slowdown: Component maker Bosch likely to slash a few thousand jobs in India in next four years

Firstpost  

Bosch may retrench about 10% of its 3,700-strong workforce in the administrative and management segments while it could be more than 10% of the 6,300 workers in the manufacturing level. After giving a hint of manpower adjustments in the wake of a major decline in its first quarter profit last year due to slowdown in the auto industry, German auto …

FY20 Domestic Air Passenger Traffic Could Grow 4.5%: ICRA
5 years, 3 months ago

FY20 Domestic Air Passenger Traffic Could Grow 4.5%: ICRA

ABP News  

New Delhi: Ratings agency ICRA expects domestic air passenger traffic growth for the current fiscal to be 4.5 per cent, after five years of double-digit growth. "A series of events during the current fiscal such as discontinuation of operations of Jet Airways, grounding of the Boeing 737 Max aircraft due to technical issues with its flight control software, and issues …

Auto sector to gain from tax cut, says ICRA
5 years, 6 months ago

Auto sector to gain from tax cut, says ICRA

Live Mint  

Automakers and parts suppliers will benefit from the government’s step to cut corporate tax rates, rating firm ICRA Ltd said on Monday. Pavethra Ponniah, vice-president and sector head, ICRA, said the ongoing weak demand conditions may prompt original equipment manufacturers to pass on some benefits of tax revision to the end consumer with lower product prices. In a bid to …

Slump in auto aftermarket, exports to bring more stress for component makers, says report
5 years, 6 months ago

Slump in auto aftermarket, exports to bring more stress for component makers, says report

Live Mint  

Mumbai: Credit rating agency Icra has revised its outlook for the auto components industry to negative following more than three quarters of continuous decline in the wholesale dispatches across all vehicle categories. “Tight liquidity across the aftermarket dealer channel has led to de-stocking, curtailing fresh demand for the component manufacturers,” Icra said in a statement. The ratings agency also points …

Auto component makers seek uniform 18% GST
5 years, 6 months ago

Auto component makers seek uniform 18% GST

Live Mint  

Auto components industry on Friday sought uniform 18 % GST in order to help companies with their working capital borrowings which could be used to invest in long-term assets. "While the captains of our domestic original equipment manufacturers are ably representing the interventions that would be required to stimulate demand, we in the component sector seek assistance by way of …

Passenger vehicle sales may dip in 2019-20; agricultural output, revival in economy crucial for auto sector’s growth: ICRA
5 years, 6 months ago

Passenger vehicle sales may dip in 2019-20; agricultural output, revival in economy crucial for auto sector’s growth: ICRA

Firstpost  

The auto sector has already registered a 21.6% -plus de-growth in the first four months of 2019-20, ICRA said. New Delhi: Passenger vehicle sales in India is likely to decline in the range of 4-7 percent this fiscal saying agricultural output, revival in economic and industrial growth would be critical for auto sector’s growth despite recent government measures to rekindle …

PV sales likely to decline in the range of 4-7% in 2019-20: ICRA
5 years, 6 months ago

PV sales likely to decline in the range of 4-7% in 2019-20: ICRA

Live Mint  

Passenger vehicle sales in India is likely to decline in the range of 4-7 per cent this fiscal saying agricultural output, revival in economic and industrial growth would be critical for auto sector's growth despite recent government measures to rekindle demand. The auto industry has already registered a 21.6 per cent plus de-growth in the first four months of 2019-20, …

Autocomps revenue growth seen halving
5 years, 6 months ago

Autocomps revenue growth seen halving

Deccan Chronicle  

PUNE: Revenue growth for the beleaguered auto components sector would halve in next two fiscals due to a steep decline in domestic vehicles sales. However, volume of original equipment manufacturers is estimated to either degrow or log low single-digit growth at best in the next two years, rating agency Crisil said. It expects the Rs 3.5 lakh crore automotive components …

The auto sector’s revival holds the key to India’s $5 trillion economy
5 years, 7 months ago

The auto sector’s revival holds the key to India’s $5 trillion economy

Deccan Chronicle  

This financial year saw the Government of India set an ambitious target to make India a $5 trillion economy within five years. The Indian automobile industry is contributing 7.1 per cent to GDP right now and around 3.7 crore people are employed directly and indirectly by this sector. The auto components industry accounts for 2.3 per cent of India’s GDP, …

Auto component industry to grow at 10-12% CAGR in long term, says Icra report
6 years, 8 months ago

Auto component industry to grow at 10-12% CAGR in long term, says Icra report

Firstpost  

The auto component industry is likely to grow at 10-12 percent annually in the long term on rising rural income, higher disposable income and continued infrastructure activity, according to a Icra report Mumbai: The auto component industry is likely to grow at 10-12 percent annually in the long term on rising rural income, higher disposable income and continued infrastructure activity, …

Auto component sector likely to grow 10-12% in FY17 on strong monsoon bet: ACMA – Firstpost
8 years, 9 months ago

Auto component sector likely to grow 10-12% in FY17 on strong monsoon bet: ACMA – Firstpost

Firstpost  

In the last fiscal, the auto component industry’s turnover grew by 8.8 percent to Rs 2.55 lakh crore as against Rs 2.34 lakh crore in 2014-15 New Delhi: Indian auto component industry is expected to grow in the range of 10-12 percent in the current fiscal on hopes of above-normal monsoon and recovery in the domestic automobile market, according to …

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