The domestic auto components industry may see a revenue growth of 15-17 % this fiscal and 10-12% in the next financial year on the back of recovery in automobile sales, according to a report.
Tag: industry
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India’s auto parts industry expects 22% growth in FY22
The auto components industry is poised for a 10- 15 per cent growth in fiscal 2022, following a 3 per cent slide in FY21 during peak Covid pandemic, according to Sunjay Kapur.
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Chip shortage may reduce India’s auto volume growth: Crisil
The ongoing chip shortage is likely to moderate passenger vehicle sales growth to 11-13% this fiscal, down from the earlier volume growth forecast of 16-17 per cent, delaying the industry recovery as the waiting period is increasing amid strong demand due to production curbs, says a Crisil report.
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New PLI scheme to change Indian automobile sector
Government’s productivity linked incentive (PLI) scheme for auto and component industry is set to change it in a big way through electric vehicles (EV), new technologies and new players in the market.
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India should achieve 5% of global components trade by 2026: CII President
The CII President said that the Indian auto ancillary industry should expand its export list and reach at least 5% of global components trade by 2026. He shared his views at the 61st annual session of ACMA.
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Continental CEO Degenhart says EVs not enough for emission reduction
Continental’s CEO Dr Elmar Degenhart called for an open discussion about the technology required to reduce road-traffic CO2 emissions stating that electromobility is only part of the solution and to mitigate climate change effectively there is a need for a combination of electric drive systems consisting of clean diesel and gasoline engines, climate-neutral synthetic fuels and fuel cells.
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Current cess on vehicles
Dr Pawan Goenka, Managing Director, Mahindra & Mahindra Ltd said, "Passing of ordinance to increase the limit of cess to 25 per cent, on certain class of vehicles, is along the expected lines.
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Turning around Tata Motors domestic business need of the hour: N Chandrasekaran
Tata Motors Chairman N Chandrasekaran has said turning around domestic business of the company is "the need of the hour" as it has suffered from delays in new product launches, etc.
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Maruti Suzuki Q1 profit rises 4.4% to Rs 1,556 cr
Country largest carmaker Maruti Suzuki on Thursday reported a flat profit growth of 4.4 per cent to Rs 1,556 crore for June quarter, hurt by higher deferred tax provisions.
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Tata Motors sales surge: can it be the next Maruti on D Street?
Tata Motors is targeting its best sales performance of five years in passenger vehicles this fiscal year, component suppliers and company executives said, with new models Nexon, Tiago and Hexa driving the optimism at the automaker that is under pressure to deliver on profitability.