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Record $70 bn revenue for auto parts makers
Mint Mumbai
|August 08, 2023
Automotive parts suppliers saw a 33% increase in sales to OEMs in FY23
India's automotive components sector saw a record turnover of $69.7 billion in 2022-23, driven by a significant rise in demand for high value-added components for the domestic market, data released on Monday by apex auto components industry body Automotive Component Manufacturers Association of India (ACMA) showed. The growth was despite a moderation in exports to North America and Europe, as fears of inflation weighed on demand in those regions.
In FY23, automotive parts suppliers saw a 32.8% increase in sales to original equipment manufacturers (OEMs) to nearly $70 billion, reflecting a shift in preference for larger, high-powered vehicles across segments sport utility vehicles (SUVs) in the passenger vehicles space, medium and heavy commercial vehicle, and high-capacity, premium motorcycles and scooters, said ACMA.
Bu hikaye Mint Mumbai dergisinin August 08, 2023 baskısından alınmıştır.
Binlerce özenle seçilmiş premium hikayeye ve 9.000'den fazla dergi ve gazeteye erişmek için Magzter GOLD'a abone olun.
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