Auto Components Industry Performance Review

At the beginning of the second half of fiscal 2019-20, the Auto Components Manufacturers Association (ACMA) took stock of the industry’s performance for the first half of the current fiscal. The assessment is expected to help the industry fastrack recovery and subsequently growth.

- Anwesh Koley

Stepping into the second half of the fiscal year 2019-20, the Auto components sector desperately wants to fastrack recovery from a prolonged slowdown experienced by the industry in 2019. To help the industry further its cause, the Auto Components Manufacturers Association (ACMA) recently took stock of the industry performance in the first half of fiscal 2019-20. The objective of the industry performance review is expected to lay the foundation for a corrective course of action and help the industry fastrack recovery. At the meet, some of the key findings gave a snapshot of the industry turnover, extent of de-growth, export and import performance and the performance in the aftermarket segment. Averred Vinnie Mehta, Director General, ACMA said, “The second half of 2018-19 saw a significant slump in vehicles sales that continued well into the first half of 2019-20. The component industry, in tandem, posted a somewhat subdued performance.” Mehta besides touching upon performance indicators of the review also drew attention to the sales to OEMs in the domestic market valued at Rs.1,50,743 crore (USD 22 billion). “We are concerned over the 15.2 per cent decline in sales to the OEMs in the domestic market,” he expressed.