Tag: original equipment manufacturers

The auto component industry recorded its highest-ever turnover in 2022-23 at ₹5.60 lakh crore, registering a growth of 32.8 per cent over the previous year’s ₹4.2 lakh crore, and is expected to continue the double-digit growth. According to the Industry Performance Review for 2022-23 by the Automotive Component Manufacturers Association of India (ACMA), the aftermarket, estimated at ₹85,333 crore also witnessed a steady growth of 15 per cent. Component sales to original equipment manufacturers (OEMs) in the domestic market grew 39.5 per cent to ₹4.76 lakh crore, it...