The Automotive Component Manufacturers
Association of India (ACMA) has announced its findings on the automotive
The turnover of
the Indian auto component industry is recorded at $45.9 billion for the period
April 2020 to March 2021 which means that the industry has shown a de-growth of
3% as compared to last year. According to Vinnie Mehta, Director General, ACMA,
the vehicle industry has experienced de-growth for two successive years of
14.6% and 13.6% in FY19 and FY20 respectively. This economic slowdown of
FY19-20 is the result of pandemic-led national lockdown which resulted in a
decline in vehicle production and consumption.
The sales of auto components in the
domestic market were recorded at $37.7 billion while the Aftermarket was
recorded at $ 8.7 billion. The two figures have shown a decline of 3% and 7%
respectively. The exports and imports stood at $13.3 billion and $13.8 billion,
respectively. This caused a reduction in the trade balance to $500 million. The
data has been the lowest ever with the exports declining by 8 % and imports by
According to Deepak Jain, President, ACMA,
the automotive value-chain has also faced disruptions in FY 20-21 due to the
nationwide lockdown. With the unlocking of the economy, vehicle sales and
production improved from Q2 onwards. The first quarter was again a setback
because of the disruptions caused by the second wave of the pandemic. He also
said that this time the lockdown had a lesser adverse impact on the economy and
production because the lockdowns were regional this time. Jain added that
despite the disruption of production in the supply chain, the auto industry has
shown resilience. The component industry ensured smooth ramp-up and business
continuity. ACMA members also took up
some relief measures like donating ventilators and concentrators, setting up
hospitals and oxygen camps, and contributing towards community service.
ACMA Annual Industry Performance Review for
2020-21 showed the following key findings-
Component sales to OEMs were recorded at $37.7 billion showing a decline of 3%.
auto components declined by 8% to $ 13.3 billion.
imports fell by 11% to $13.8 billion.
in the commercial vehicles aftermarket was less while the two-wheelers and
passenger vehicles segments of the aftermarket witnessed a good recovery.
Source – Press release of "ACMA"
Image Source: Press release of "ACMA"