Auto Components Industry

Lumax Auto soars 12% as it acquires majority stake in IAC Group's India biz

IAC India is a well-established Tier-1 interior systems and components supplier to key automotive OEMs in India including Mahindra, Maruti Suzuki, Volkswagen and Volvo Eicher Commercial Vehicles.

Lenders select Ramkrishna Forgings resolution plan for ailing JMT Auto

Auto component manufacturing company undergoing insolvency proceedings

New regulations to benefit Indian auto component manufacturers: Report

The new rules and trends are increasing the need for content per vehicle and this, in turn, is helping companies boost their revenue and profits

Bosch, Uno Minda: Analysts bet on airbag makers on govt push for car safety

Implementation of airbags in other vehicle segments over the medium term will offer further revenue upside for airbag manufacturers, as per rating agency ICRA

Domestic auto parts makers benefit from supply disruptions from China

While they have not been able to make a huge dent globally, their operations have grown with OEMs in India beginning to lean on them more heavily for supplies

Craftsman Automation soars 9%; hits record high on acquisition of DR Axion

The company and DRAIPL both operate in the auto components space and have strengths in complementary areas. The acquisition will help both entities leverage their strengths and build better synergies.

Severity of injuries worst among auto workers in Pune, shows SII report

Nearly 83 per cent incidents in Pune reported a loss of body part of the worker, as compared to 67 per cent in Haryana (Gurugram and Faridabad)

What does ACMA President Sunjay Kapur think of localisation?

Business Standard's S Dinakar caught up with Sunjay Kapur, the president of the Automotive Component Manufacturers Association of India, to know how the sector is performing and more

Don't mandate localisation; incentivise it: ACMA President Sunjay Kapur

ICE is not going away, and we're going to see that continue for quite some time, specifically in India, says the president of ACMA and chairman of Sona Comstar

Auto component suppliers to log 8-10% revenue growth this fiscal: ICRA

Auto component suppliers are expected to log an 8-10 per cent growth in revenue this fiscal driven by healthy domestic original equipment manufacturers (OEMs) and pent-up demand from the aftermarket even as headwinds persist on the exports front, credit ratings agency ICRA said in a report. For the first half of the current fiscal, the industry reported a year-on-year growth of 29 per cent, ICRA said on Monday, based on projections from 49 auto ancillaries with aggregate annual revenues of close to Rs 3,00,000 crore. The export orders have slowed down in the last few months, impacted by inflationary pressures, geopolitical tensions, and supply-chain issues. "Domestic original equipment manufacturer (OEM) demand constitutes almost 50 per cent of sales for the Indian auto component industry. This is likely to remain healthy in FY2023, with double-digit growth expected in both passenger vehicle and commercial vehicle segments," said Vinutaa S, Vice President and Sector Head at ...

Sona Comstar to invest up to Rs 1,000 cr by FY25 on scaling up capacity

Auto components maker Sona BLW Precision Forgings Ltd (Sona Comstar) plans to invest up to Rs 1,000 crore by FY25 to scale up capacity, majorly for EV business, according to Group CFO Rohit Nanda. The company, a major supplier of systems and components for the electrified and non-electrified powertrain segment to automobile manufacturers, expects revenue from the electric vehicle (EV) segment to account for up to 45 per cent of its total revenue, up from 25 per cent currently. "Over a timeframe of FY23 plus two years -- FY24 and FY25, I will say our expected capex spend will be anywhere between Rs 900 crore to Rs 1,000 crore. A large part of this (around 75 to 80 per cent) is for the EV business," Nanda told PTI. Under the expansion plan, Sona Comstar would set up another plant at Manesar in Haryana for additional differential assembly capacity, he said adding the capacity of the existing facility has been fully utilised. The company had also moved to a new larger facility from a .

How will EV adoption affect auto component makers?

Transition to EVs is one big step towards turning to non-polluting machines. But how will this transition affect the auto component sector which depends on internal combustion engines? Let us find out

Auto component industry to see 9-11% revenue from EV parts by 2027: Crisil

This growth will come even as the supply of parts for the conventional internal combustion engine-driven vehicles will also grow during the period, it said.

Electric vehicles to drive auto capex up by Rs 70,630 crore in 5 years

The auto component industry, which has traditionally relied on engine parts for the bulk of its business, is ready for the electric shift

ACMA's Sunjay Kapur on auto-component sector's preparedness for EV shift

In a chat with Business Standard's Surajeet Das Gupta, president of Automotive Component Manufacturers Association of India, Sunjay Kapur, shares the industry's preparation to meet demand from EVs.

India's auto component industry all set for electric vehicle shift

ACMA president, Sunjay Kapur says that the 75 companies eligible for the auto components production-linked incentive (PLI) scheme, have to invest Rs 250 crore each in five years to get the incentive

Lakshmi Venu takes over as MD of auto parts maker Sundaram-Clayton

She managed to turn the firm around, make it a competitive foundry globally, building deep customer ties with Cummins, Hyundai, Volvo, Paccar and Daimler

Icra revises downwards revenue growth forecast for auto component industry

Icra revised downwards the revenue growth forecast for the auto components industry in the current fiscal to 15-17 per cent

Chip crunch, commodity costs hit auto component companies in H1FY22: ACMA

Exports, aftermarket help keep momentum intact, says Automotive Component Manufacturers Association of India

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