on the mood of the industry and outlook for the near future, Kapur mentioned,
“Going forward, with a slew of new launches, vehicle sales are expected to gain
traction during the festive season. Further, increased focus by the auto
industry on deep-localisation and the announcements of the PLI schemes by the
Government on Advanced Chemistry Cell (ACC) batteries and auto & auto
components will facilitate the creation of a state-of-the-art automotive value
chain and aid in developing India into an attractive alternative source of
high-end auto components. The component industry is also transforming itself as
sales of two-wheeler and three-wheeler EVs gain traction. I am hopeful that the
buoyancy in the market will continue through the year and that FY22-23 will
witness a healthy performance.”
offtake of two-wheelers, increase in cost of insurance, high inflation,
excessive fuel cost and extreme logistics costs are some of the issues of
concern to the industry and do need urgent Government attention”, added Kapur.
Key findings of the ACMA Annual Industry Performance
Review for 2021-22:
Sales to OEMs: Auto Component sales
to OEMs, in the domestic market, at Rs.3.41 lakh crore (USD 45.8 billion), grew
22 per cent compared to the previous year. Enhanced raw material prices,
consumption of increased value-added components and shift in market preference towards
larger and more-powerful vehicles contributed to the increased turnover of the
•Exports: Exports of auto components
witnessed growth of 43 per cent to Rs.1.41 lakh crore (USD 19.0 billion) in
2021-22 in contrast to Rs.0.98 lakh crore (USD 13.3 billion) in 2020-21. North
America accounting for 32 per cent of exports, saw a growth of 46 percent.
Europe accounting for 31 per cent and Asia for 25 per cent grew 39 per cent and
40 per cent respectively.
key export items included drive transmission & steering, engine components,
Body/Chassis, Suspension & Braking etc.
•Imports: Traction in the domestic
market also reflected on imports of component into India. Component imports
grew by 33 per cent in 2021-22 to Rs.1.36 lakh crore (USD 18.3 billion) from
Rs.1.02 lakh crore (USD 13.8 billion) in 2020-21. Asia accounted for 65 per
cent of imports followed by Europe and North America at 27 per cent and 7 per
cent respectively. Imports from Asia grew 30 per cent, while those from Europe
by 39 per cent and from North America by 36 per cent.
Aftermarket: Increased movement of
vehicles post-pandemic and surge in demand for used- vehicles led to buoyancy
in the aftermarket, across all segments. The turnover of the aftermarket in FY
2021-22 stood at Rs. 74,203 crore (USD10.0 billion) compared to Rs.64,524 crore
(USD 8.7 billion) in the previous year.