he bug of customisation has bitten Indian vehicle owners for long. So much so, that even a new vehicle on delivery instead of making its way to the owner's parking lot finds itself being driven into the workshops offering modifications or enhancements. Here interior ambient lights have come to become a big rage with owners of even the top-of-the-line, fullyloaded premium Sports Utility Vehicles as a testimony. They prefer to roll down their fully air-conditioned vehicles to bask in the glory of unique interiors as they seek gratification from onlookers. Despite the growing calls for using local products available in the market, the plug-play solutions on offer from Chinese manufacturers seem to be a hit with enthusiasts. Even the high import duties and stringent customs checks have seemingly failed to deter their widespread distribution. On the whole, China leads the imports accounting for ~30 per cent of the total imports ahead of Germany (11 per cent) by a big margin.
FY2022 also marked a 33 per cent increase in imports on a Yearover-Year (YoY) basis. Electricals and Electronics as a whole accounted for 14 per cent with interiors (non-electronics) at eight per cent.
Perhaps attributed to the quality of make and the fit and finish by local workshops here in India, there is enough and more uptake in the aftermarket. The Indian aftermarket is pegged at an estimated Rs.74,203 crore (USD 10 bn) and witnessed a steady 15 per cent growth in FY2022. This compared to Rs.64,524 crore (USD 8.7 bn) in the previous fiscal.
This story is from the December 2022 edition of Auto Components India.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the December 2022 edition of Auto Components India.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
BUSWORLD SOUTHEAST ASIA: A PREVIEW
The third edition of Busworld Southeast Asia 2024 assures a blend of comfort, innovation, and sustainability this year,
INDIA RUBBER EXPO 2024: THE RUBBER INDUSTRY LANDSCAPE
In the fast paced metropolis of Mumbai, the towering skyscrapers and bustling streets made for a perfect backdrop to the India Rubber Expo 2024 (IRE 2024). Hosted by the All India Rubber Industries Association (AIRIA), this biennial spectacle aimed to reshape the rubber industry's landscape, both at home and abroad write Aditya Sharma and Upendra Kasbekar.
NO SILVER BULLET
In an upfront conversation, Akshay Kashyap, CEO and Managing Director of Greenfuel Energy Solutions Pvt. Ltd. shares his thoughts on the future transport fuel with Deepti Thore.
GREEN GAS SYSTEMS AND STORAGE
Greenfuel Energy tops the list for reliable clean gas systems and energy storage solutions. Deepti Thore highlights its market acceptance.
INDIA EVS COST LESS OVER LIFETIME BUT FACE UPTAKE HURDLES
The lifetime costs of electric vehicles in India are less than those of Internal Combustion Engine (ICE) models across most vehicle segments. This facilitates adoption, especially for low-speed two- and three-wheelers as per the findings of BloombergNEF’s latest report, writes Ashish Bhatia.
WIDE-BODY DUMP SERIES
Allison Transmission has developed the Wide-Body Dump series for Heavy-Duty off-road applications. Ashish Bhatia looks at the advanced attributes that will come into play.
AUTOMATED COMMAND STEERING FUNCTIONS
The Government of India wants a permanent agency to expedite the publication of standards and development of test facilities in parallel,
CHARGEQ EV ECOSYSTEM
ChargeQ is building the EV ecosystem with unique offerings for emergency charging and an emphasis on grid balancing,
NIPPON MASTERCRAFT FOR THE LUXURY SEGMENT
Nippon Paint India, the leading paint and coating company in the Asia Pacific has launched an aftermarket one-stop shop brand Mastercraft.
ATMA SPOTLIGHTS TYRE INDUSTRY TRENDS
At the ATMA Annual Conclave, stakeholders of the tyre industry deliberated on greater sustainability and the adoption of emerging technologies to enhance productivity, writes Richa Tyagi.