Auto Parts

Domestic auto industry scaling up efforts to make electric parts locally

The domestic automobile industry is scaling up efforts to enhance localisation of electronic components in order to curtail dependence on other countries, especially China, as per auto component industry body President Sunjay Kapur. In an interaction with PTI, Kapur noted that the Automotive Component Manufacturers Association of India (ACMA), Society of Indian Automobile Manufacturers (SIAM) and the Ministry of Heavy Industries are working together to achieve the target of localisation especially in electronics. He noted that there lies a great opportunity for the auto component industry with the big push towards electrification. With growth in consumption of electric vehicles, the industry is witnessing fast transformation of the auto components sector to be an integral part of the electric vehicle manufacturing supply chain. The component industry is making steady investments and acquiring technology companies. "We will have to keep localising...we as an industry are very fortu

OEMs to drive 16-18% rise in auto-parts MSME revenues: CRISIL SME Tracker

MSMEs in the automotive components sector should see higher growth as well, but will lag average industry revenue growth owing to lack of vertical integration.

Sundram Fasteners says it will invest around Rs 400 cr in next 2 years

Government's production linked incentive scheme will be good for the automotive sector, says firm

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

The Indian auto component industry is expected to clock 8-10 per cent 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. For 2021-22, the revenue growth of the industry is pegged at 13-15 per cent, driven by domestic OEM, replacement, export volumes and pass-through of commodity prices. The healthy volume growth will, however, come on a low base of FY2021, the agency said in a statement. "Demand for auto components stems from domestic OEMs, replacement and exports. Domestic OEM demand has remained a mixed bag across segments in FY2022, with a slowdown in two-wheelers (2Ws) and semiconductor shortage dragging down overall production volumes," Icra Ltd Assistant Vice President & Sector Head Corporate Ratings - Vinutaa S said. Exports have remained a bright spot in the Indian auto component story, partly aided by the "China+1 strategy". This is despite supply chain issues, she ...

Auto PLI will foster Rs 2.3-trn additional investment over 5 yrs: Arun Goel

In a Q&A, Heavy Industries Secretary breaks down the nitty-gritty of the selection process

Japan output rises for first time in 4 months as supply eases for carmakers

The increase was smaller than market expectations, underscoring the lingering impact of global supply chain disruptions

B2B auto parts startup Koovers raises $1.5 mn in Inflection Point-led round

Koovers assures workshops of spares with ease of ordering, doorstep delivery, genuine and complete basket of parts of all car makers; has over 5,000 workshops in network

Raymond consolidates tools & hardware, auto parts biz into engineering biz

Board clears move to convert realty division into fully-owned subsidiary

Auto parts industry may see 20-23% jump in revenue this fiscal: Report

The auto components industry is expected to log 20-23 per cent revenue growth during this fiscal, supported by recovery in the domestic automobile sector and robust exports, with all segments (passenger vehicles, two-vehicles and commercial vehicles) likely to report healthy double-digit growth in 2021-22, credit ratings agency ICRA said on Thursday. However, prices of key commodities and shortage of semi-conductors remain the key concerns for the industry, it said. The domestic auto component industry has seen a smart recovery during the first quarter of this fiscal, driven by strong exports and revival of domestic demand in June, ICRA said in a statement. Most domestic automobile segments, especially passenger vehicles (PVs) and tractors, continue to witness strong demand and are almost at pre-COVID-19 levels. Even the M&HCV (medium and heavy commercial vehicle) segment, which was impacted during the April quarter, is also now showing signs of recovery, it said. ICRA's sample ..

Premium valuations, pressure on margins may restrict gains in Bosch

The management is cautious on the near-term outlook

Auto parts suppliers to see 70% fall in operating profit in Q1: Icra

The sector is taking a hit from disruptions caused by the second wave of Covid

South Korean govt to foster parts suppliers for next generation cars

South Korea's top economic policymaker said the government plans to provide support to help around 1,000 auto parts makers transform into key suppliers of next-generation automobiles by 2030.

Auto parts supplier Sona Comstar to launch Rs 5,550-crore IPO next week

Price band at Rs 285-291 a share; fresh sale of Rs 300 cr and OFS worth Rs 5,250 crore, of shares held by Singapore Topco, Blackstone affiliate

Craftsman Automation IPO subscribed 1.26 times on Day 2 of subscription

Auto component maker Craftsman Automation's initial public offer was subscribed 1.26 times on Tuesday

Auto margins could come under near-term pressure on higher duties

Commercial vehicle companies to gain the most on scrappage, bus orders and infra boost

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 ..

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

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

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