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Auto part makers shift to top gear as industry's growth accelerates

After being stalled by the economic slowdown and the pandemic, growth is accelerating rapidly for the industry

Topics
Auto part makers | Auto component makers | automobile industry

T E Narasimhan | Chennai Last Updated at February 18, 2021 06:10 IST

auto component makers, automobile, manufacturing, jobs, workers, company, cars, engineering

ICRA expects the industry's revenue to grow 16-18 per cent in 2021-22 supported by factors such as increasing localisation and, of course, the low base effect

The revival in auto sales has been transmitted to the component industry. Manufacturers are reporting an 18-20 per cent growth in revenues and a 50 per cent jump in profit for the third quarter of FY21.

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