Indian auto parts business sees 11.3% progress in H1 FY25: Report

NEW DELHI: The Indian auto parts business has skilled strong progress within the first half of FY25, with a notable 11.3 per cent enhance in its market measurement, based on Automotive Element Producers Affiliation (ACMA) report.
The business, which was valued at $36.1 billion in H1 FY24, surged to $39.6 billion in H1 FY25. A number of traits have emerged out there, with customers shifting in the direction of bigger and extra highly effective automobiles throughout all segments.
The demand for Utility Autos (UVs) within the Passenger Car (PV) section grew by 13 per cent, with UV1 fashions (starting from 4000 to 4400 mm in size and priced beneath Rs 20 lakh) seeing a 25 per cent enhance in gross sales.
The 2-wheeler market additionally noticed a 74 per cent enhance in gross sales of bikes with engine capacities between 350cc and 500cc.
Electrical automobiles (EVs) have gained vital traction, with gross sales rising by 22 per cent in H1 FY25 in comparison with the earlier 12 months. Whereas electrical two-wheelers (e-2W) grew by 26 per cent, electrical passenger automobiles (e-PVs) noticed a decline of 19 per cent.
Exports from the auto parts sector have been sturdy, with a 7 per cent progress in exports and a commerce surplus of $150 million.
The USA, Germany, and Turkey emerged as the highest locations for Indian auto element exports, whereas China, Germany, Japan, and Korea have been the main sources of imports.
The business’s total measurement stood at Rs 3.32 lakh crore ($39.6 billion) in H1 FY25, with provide to Unique Gear Producers (OEMs) reaching Rs 2.83 lakh crore ($33.8 billion).
Exports in Asia alone amounted to $2.74 billion, whereas the whole region-wise imports have been valued at $7.16 billion.
By way of total efficiency, the whole business turnover stood at Rs 3.32 lakh crore ($39.6 billion) in H1 FY25, up from Rs 2.98 lakh crore ($36.1 billion) in H1 FY24, marking an 11.3 per cent progress.
The provision to Unique Gear Producers (OEMs) noticed a rise of 11.2 per cent, reaching Rs 2.83 lakh crore ($33.8 billion), in comparison with Rs 2.55 lakh crore ($30.8 billion) in the identical interval final 12 months.
The aftermarket section grew by 5.0 per cent, totaling Rs 47,416 crore ($5.7 billion), up from Rs 45,158 crore ($5.5 billion) in H1 FY24.
Exports from the business grew by 8.7 per cent, amounting to Rs 93,342 crore ($11.1 billion), up from Rs 85,870 crore ($10.4 billion) in H1 FY24.
Imports additionally noticed an increase of 5.3 per cent, totaling Rs 92,050 crore ($11.0 billion), in comparison with Rs 87,425 crore ($10.6 billion) within the earlier 12 months.