Page 3 - Auto Components Industry

Improve output, explore smart solutions: Goyal to auto components industry

While addressing the Automotive Component Manufacturers Association''s (ACMA) 60th annual session, the minister said that there is a huge demand for trusted partners in resilient global supply chains

Indian auto, components sector shouldn't de-link from imports: Pawan Goenka

Interdependence will play an important role in global and domestic economies, he said adding "we should avoid any knee jerk reaction or ask for bans of imports or any such acts"

Auto companies see sales revival in Aug over increase in passenger vehicles

The top two carmakers in India, Maruti Suzuki and Hyundai, led the recovery in the auto market in August with 20.2 per cent and 19.9 per cent increase in their respective domestic wholesales of passenger vehicles during the month. Mahindra & Mahindra (M&M) also saw its domestic passenger vehicle sales grow by 1 per cent last month, while Toyota Kirloskar Motor witnessed a decline in its passenger vehicle sales, although there was improvement over the preceding months since the gradual reopening of the economy. The country's largest carmaker Maruti Suzuki India (MSI) said its domestic sales increased by 20.2 per cent to 1,16,704 units last month, as against 97,061 units in August 2019. The company's total sales grew by 17.1 per cent, an increase at 1,24,624 units in August as compared to 1,06,413 units in August last year. MSI's sales of mini cars comprising Alto and S-Presso stood at 19,709 units as compared to 10,123 units in the same month last year, up 94.7 per cent. Sales .

Auto component industry faces shortage of skilled labour: Industry leader

Sector employs around 5 million people and it accounts for 2.5 per cent of country's GDP

Global spread helps Motherson Sumi tackle Covid-19 pandemic pain

The third part of the series looks at how the firm used its first-mover advantage to get production back on track

Auto component sector FY21 revenue may fall 14-18% over weak demand: ICRA

ICRA expects recovery of the auto components sector to be gradual and slow-paced, with the industry pinning hopes on revival in rural income to support growth in the festive season and thereafter

Covid-19 pandemic a big blow for auto-component SMEs: CRISIL SME Tracker

The nationwide lockdown imposed till April 14 has brought production to a standstill, and will hurt even more if it is extended.

Coronavirus supply chain shock for auto component sector, says ICRA

The COVID-19 supply chain disruptions will manifest into a demand shock lasting multiple quarters for the domestic industry, ICRA said in a statement.

Auto slowdown, uncertainity forces component industry to cut down capex

The component manufacturers have found themselves fighting the downturn with lower utilisation of existing capacity

Govt intervention needed to save auto component sector jobs: ACMA president

Leading industry body head says the govt should intervene with measures like cutting the GST rate to 18% across the entire auto and auto component sector

Auto component industry likely to grow at 10-12% CAGR in long term

Riding strong volume growth across automotive segments, the Indian auto component industry grew by 13 per cent during FY18

Auto components industry grows by 14% to about Rs 3 lakh crore

The market segment was 'a silver lining' growing at 25.6 per cent