automotive component manufacturers association

China Plus One: Auto industry to invest $7 bn in 5 years to deepen parts localisation

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China Plus One: Auto industry to invest bn in 5 years to deepen parts localisation

Indian auto industry is set to invest up to $7 billion, or about Rs 58,000 crore, by FY28 to deepen localisation of advanced components from electric motors to automatic transmissions to reduce imports and capitalise on multinationals’ ‘China Plus One’ sourcing strategy. Automakers and their suppliers are likely to make this investment between FY24 and … Read more

auto component industry: Auto parts sales rise 6.5% in H1 as buyers turn to feature-rich vehicles

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auto component industry: Auto parts sales rise 6.5% in H1 as buyers turn to feature-rich vehicles

Indians’ love for larger, feature-rich vehicles, coupled with a concerted push to deepen local content, is turning into a boon for auto parts makers with domestic component sales rising 6.5%, on a high base, to a whopping $36.1 billion in the first half of this financial year. The shift in consumer preference is driving up … Read more