The automotive elements trade grew 11 per cent year-on-year to Rs 3.32 lakh crore within the first half of the present fiscal, trade physique ACMA stated on Thursday. The turnover of the automotive part trade within the April-September interval of final fiscal stood at Rs 2.98 lakh crore.
“With automobile gross sales throughout all segments reaching pre-pandemic ranges and regardless of geopolitical challenges on the exports entrance, the auto elements sector witnessed a gentle development in each home and worldwide markets within the first half of FY2024-25,” Automotive Element Producers Affiliation of India (ACMA) President Shradha Suri Marwah stated.
She stated the festive season introduced important gross sales throughout most segments of the automobile trade. “Nevertheless, reflecting on the previous eight months of this fiscal yr, whereas two-wheelers have proven promising development, gross sales of passenger automobiles and business automobiles have been comparatively average,” she added.
On the exports entrance, with geological challenges, supply time and freight prices have as soon as once more gone up, Marwah stated.”That stated, in worth phrases, the trade stays in sturdy well being, signalling stability and resilience amidst evolving market dynamics,” she added.
The elements trade continues to make investments for functions of upper worth addition, know-how upgradation and localisation to remain related to each home and worldwide prospects, Marwah stated.
ACMA Director Common Vinnie Mehta stated that with automobile gross sales and exports displaying regular efficiency, the auto part trade demonstrated a development of 11.3 per cent scaling a turnover of Rs 3.32 lakh crore within the first half of FY 2024-25.
Auto part provides to all of the segments — OEMs (authentic tools producers), exports as additionally the aftermarket remained steadfast, he added.
Exports grew by 7 per cent to $11.1 billion (Rs 93.34 lakh crore) whereas imports grew by 4 per cent to $11 billion (Rs 92.05 lakh crore) with $150 million in surplus, the trade physique stated.
The aftermarket, estimated at Rs 47,416 crore, additionally witnessed a development of 5 per cent year-on-year, it added. Equally, part provides to OEMs within the home market grew by 11 per cent year-on-year to Rs 2.83 lakh crore, ACMA stated.
