April 26, 2024

India's auto parts sales increased by 15.7% year-on-year in fiscal year 2011

According to the data released by the ACMA of the Indian Association of Automobile Parts Manufacturers, the total sales of India's auto parts industry in the 2011 fiscal year (from early April 2011 to the end of March 2012) was Rs. 21,040 crore (approximately US$43.4 billion), a year-on-year increase. 15.7%.

ACMA stated that although the uncertainty in the Indian domestic market still exists, ACMA is still optimistic about the industry's future prospects in the medium to long term, but in the fiscal year 2012-2013, the industry's growth rate will slow down compared to last year. It is expected to remain at the 8-10% level.

ACMA President Surinder Kanwar said: “The ambiguity of the fuel price mechanism, higher capital costs and interest rates, and the shrinking infrastructure investment all have a negative impact on the growth of the automotive industry.”

ACMA said that in the fiscal year 2011-2012, India’s auto parts exports totaled US$6.9 billion, up 32.7% year-on-year, of which exports to Asia accounted for 28%, and exports to Europe and North America accounted for 36% and 23%, respectively. India’s total imports for the financial year were US$ 10.6 billion, up 25% year-on-year, of which Asia and Europe accounted for 57% and 35%, respectively.

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