Page 4 - Auto Parts
Auto parts industry revenue to grow 16-18% in next fiscal: ICRA
Ratings agency ICRA on Tuesday said it has revised its outlook on the auto component industry from negative to stable, on the back of demand revival across original equipment manufacturers (OEMs), replacements and exports. ICRA expects the domestic auto component industry's revenue to grow 16-18 per cent in the financial year starting April 2021, supported by factors such as increasing content per vehicle, low base effect, and higher realisations. Long-term demand drivers include increased focus on localised supply chains by Indian OEMs. Diversification of supply chain risk by global OEMs is also expected to lead to increased sourcing from India in the coming years, ICRA said in a statement. OEMs, which account for over 56 per cent of the auto component demand, have recorded a sharp increase in demand since September across all segments, barring the medium and heavy commercial vehicle (M&HCV) industry, it added. Volumes of the automotive industry will take 2-3 years to revert to ..
 "Auto parts industry revenue to grow 16-18% in next fiscal: ICRA")
Uptick in passenger vehicle sales to raise aftermarket demand: ACMA
The automotive industry is shifting gears as it witnesses an uptick in vehicle consumption in the second quarter of the current financial year, ACMA said
 "Uptick in passenger vehicle sales to raise aftermarket demand: ACMA")
Auto parts imports from China down 42% during April-July: Ministry data
Industry body is optimistic about govt's push for greater localisation of components, but says indigenous manufacture will take some time
 "Auto parts imports from China down 42% during April-July: Ministry data")
Going local a bigger challenge than expected for the automobile industry
Weaning the auto-components industry off Chinese imports will be a bigger challenge than what the government expects
Weak rural income, waning demand impact revenue of auto component SMEs
The auto component industry depends heavily on domestic vehicle makers, which account for 65 per cent of total demand in value terms
 "Weak rural income, waning demand impact revenue of auto component SMEs")
Auto parts industry to grow by 15% in FY20 despite demand slowdown: Icra
The ratings agency also expects automobile volumes to grow 8-9% during 2019-20, as against 14.8% growth during 2018-19
 "Auto parts industry to grow by 15% in FY20 despite demand slowdown: Icra")
Apollo Tyres starts production from Hungarian plant
It is investing € 475 mn in facility - the first overseas greenfield plant by an Indian tyre firm
 "Apollo Tyres starts production from Hungarian plant")