Auto Components Market Surges 11.3% to 3.32 Lakh Crore in H1 FY25

CIOTechOutlook Team | Friday, 13 December 2024, 02:36 IST

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India's auto components sector experienced an 11.3 percent increase in its revenue, reaching Rs 3.32 lakh crore ($39.6 billion) during the first half of 2024-25 (April-September 2024), up from Rs 2.98 lakh crore ($36.1 billion) generated in the same period of FY24. This information was based on the Industry Performance Review for 2024-25, released by the Automotive Component Manufacturers Association of India (ACMA).

Commenting on the performance, Vinnie Mehta, Director General, ACMA said, “With vehicle sales and exports displaying steady performance, the auto component industry demonstrated a growth of 11.3 percent scaling a turnover of Rs. 3.32 lakh crore ($39.6 billion) in the first-half of FY 2024-25.”

He further mentioned that the supply of auto components to every sector of the industry, including OEMs, exports, and the aftermarket, remained consistent.

According to ACMA's report, component supplies to OEMs in the local market increased by 11 percent year-on-year to Rs 2.83 lakh crore ($33.8 billion) in H1 FY 2024-25. The aftermarket, valued at Rs 47,416 crore ($5.7 billion), experienced a 5 percent year-on-year increase from Rs 45,158 crore ($5.5 billion) in H1FY24.

Sharing insights on the performance of the auto component industry, Shradha Suri Marwah, President, ACMA & CMD, Subros noted, “With vehicle sales across all segments reaching pre-pandemic levels and despite geopolitical challenges on the exports front, the auto components sector witnessed a steady growth in both domestic and the international markets in the first-half of FY2024-25.”

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