Mexican Media Brands
Sales by India’s Auto Parts Industry Jump 18%
Revenue generated by India’s auto partsmakers climbed to $51 billion in the fiscal year ended March 31 from $43.1 billion in the previous 12-month period, according to the country’s Automotive Components Manufacturers Assn.
#economics
Share
Revenue generated by India’s auto partsmakers climbed to $51 billion in the fiscal year ended March 31 from $43.1 billion in the previous 12-month period, according to the country’s Automotive Components Manufacturers Assn.
ACMA says exports for the year soared 24% to $13.5 billion. One-third of those shipments went to customers in Europe. North America and Asia accounted for 28% and 25%, respectively. India’s primary parts exports include drivetrain, steering, suspension, braking and body/chassis components.
India’s imported car parts during the last fiscal year grew 18% to $15.9 billion. The trade group says 60% of the total came from Asian sources. Europe supplied 30%, and 8% came from North America.
ACMA predicts that India’s auto parts industry will quadruple to $200 billion by 2026, with exports representing $70 billion of the total by then.
RELATED CONTENT
-
On Quantum Navigation, EVs, Auto Industry Sales and more
Sandia’s quantum navi, three things about EVs, transporting iron ore in an EV during the winter, going underwater in an EV (OK, it is a sub), state of the UK auto industry (sad), why the Big Three likes Big Vehicles, and the future of logistics.
-
Ford’s $42 Billion Cash Cow
F-Series pickups generate about 30% of the carmaker’s revenue. The tally is about twice as much as what McDonald’s pulls in.
-
Inside Ford
On this edition of “Autoline After Hours” Joann Muller, Detroit bureau chief for Forbes, provides insights into what she’s learned about Ford, insights that are amplified on the show by our other panelists, Stephanie Brinley, principal analyst at IHS Markit who specializes in the auto industry, and Todd Lassa, Detroit Bureau Chief for Automobile.