The Indian automobile aftermarket is slated to reach a value of USD 14 million by 2028, informed Automobile Components Manufacturer’s Association (ACMA) officials in a recent press conference held at Delhi in the run up to ACMA Automechanika aftermarket fair scheduled to be held from 1 February to 3 February at Pragati Maidan. 

The figures – insights from the organisation’s Global Automotive Aftermarket Research Report that was conducted in partnership by Ernst & Young – point at an aftermarket expansion in the wake of a consistent rise in the vehicle population, currently standing at 340 million and anticipated to exhibit a compound annual growth rate (CAGR) of eight percent till FY2028. 

Notably, the two-wheeler and passenger vehicles segments are poised for substantial growth, with projections indicating an increase from 257 to 365 million units and from approximately 47 to over 72 million units, respectively, by 2028. 

Pre-owned car sales are forecasted to experience a robust 17.5 percent CAGR until FY2028, propelled by organised businesses and online platforms. Furthermore, the commercial vehicle parc is set to expand from 13 million units to 19 million units by 2028. 

In the tractor segment, which presently contributes nearly USD 1 billion to the Indian aftermarket, the parc is expected to escalate from 14 million units to over 19 million units during the period.

The study, centering on seven key product categories including engine parts, suspension and braking parts, transmission parts, rubber components, cooling systems and filters—reveals that the Indian automotive aftermarket reached a valuation of USD 10 billion in 2023. 

Internationally, the study spanned 39 countries, concentrating on 10 significant export markets and pinpointing export opportunities exceeding USD 35 billion. Among these markets, Indonesia, LATAM, Poland, Brazil, Colombia and Bangladesh feature as a mature aftermarket with a significant number of aging vehicles. 

In contrast, North Africa, South Africa, East Africa, West Africa and the UAE are rapidly evolving markets, presenting substantial growth prospects. The collective export potential to these ten markets is projected to surpass USD 35 billion by 2028.

Speaking about the market potential for the industry, ACMA President, Shradha Suri Marwah, said, "The insights from the research highlight unique opportunities for the Indian auto component aftermarket players. The Indian components suppliers need to focus on building partnerships with international buying groups to gain market access, invest in marketing and branding, increase digital presence and build collaboration amongst the industry players to provide their joint offerings to tap the global market opportunities.”

Expressing his views on the performance of the industry, Director General of ACMA, Vinnie Mehta, said, “The Indian auto component makers witnessed a promising 7.5 percent growth in the first half of FY24 due to increased demand for pre-owned vehicles, preferential shift towards larger vehicles and the increasing formalisation of the repair and maintenance market. On the back of fast-growing aftermarket opportunities, we are thrilled with the response for participation, from both domestic and international players, at the ACMA Automechanika 2024. The event gives auto component manufacturers from across the world a platform to connect and demonstrate capabilities in the aftermarket. The exhibition has been seamlessly integrated into Bharat Mobility Global Expo 2024.”

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Tier 1 automotive supplier Uno Minda has launched its next-generation 2-Way and 3-Way Car Dash Cam DVRs in the Indian aftermarket. The launch meets the growing demand for in-car safety technology and reliable evidence in the event of accidents.

The new DVRs offer multi-channel recording with up to 4K Ultra HD resolution, aiming to provide smarter and safer driving experiences for consumers.

The new dash cams feature advanced capabilities for comprehensive road coverage:

The two new Car Dash Cam DVR models feature a Gravity Sensor that automatically locks footage during impacts. The top-tier 3-Way Car Dash Cam DVR, available for INR 14,999 (including a one-year warranty), offers Triple Channel Recording with up to 4K/2K Ultra HD for the front camera and 1K resolution for both the in-cabin and rear cameras for all-round coverage, alongside a 120degree–140degree Wide Field of View to minimise blind spots. In contrast, the 2-Way Car Dash Cam DVR, priced at INR 12,999, provides Dual Channel Recording with 4K Ultra HD from the front and 1K from the rear camera for journey coverage, and features a 160-degree Wide-Angle Lens that captures a broader view of the road.

Karna Markan, Head – Sales & Distribution (Accessories), Uno Minda (Aftermarket), said, “At Uno Minda, our mission is to bring advanced automotive technology into the hands of everyday consumers, making driving safer, more convenient, and more enjoyable. These advanced DVRs are designed to offer multi-channel recording with upto 4K Ultra HD resolution, view recorded videos wirelessly on mobile phone, and advanced safety features, ensuring a smarter and safer driving experience. These products represent a significant step forward in providing consumers with reliable and easy-to-use aftermarket solutions that enhance both safety and driving confidence.”

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Meta Materials Circular Markets (MMCM), a circular economy solutions platform, has announced the launch of India’s first circularity-linked carbon credits from End-of-Life Vehicles (ELVs). The company expects the project to achieve 2 million tonnes of CO2 savings by the end of the decade.

Under the Cercarbono standard, MMCM said it has introduced a global solution by integrating circular economy principles into carbon markets. This establishes a verifiable mechanism that links carbon reduction with material recovery.

The credits are expected to see demand, positioning India as a supplier of high-integrity, circularity-linked carbon assets. The project has the potential to unlock INR 10 billion in climate finance for the Registered Vehicle Scrapping Facilities (RVSFs) ecosystem.

MMCM has partnered with over 20 RVSFs nationwide, including Tata Re.Wi.Re and Mahindra CERO.

For every one tonne of ELV responsibly scrapped and recycled, approximately 0.6 tonnes of CO2 emissions are saved. These credits not only capture avoided emissions but also the recovery of materials such as steel, aluminium and plastics, which are reintroduced into manufacturing cycles. This creates a dual advantage for India Inc – credible Scope 3 emissions offsets and the development of low-carbon supply chains.

Nitin Chitkara, CEO, MMCM, said, “Circularity-linked carbon credits open a new paradigm where India can decarbonise while simultaneously creating value from recycling. This model not only supports India’s net zero ambitions but also strengthens industrial ecosystems with sustainable resource recovery. As COP30 nears, India is ready to showcase carbon innovation with global impact.”

Yashodhan Ramteke, Head of Carbon BU, MMCM, added, “By quantifying and trading ELV-linked carbon credits, we are demonstrating how emission savings and circularity can work together, setting the stage for India to become a leader in next-generation carbon finance.”

The initiative aims to reimagine ESG (Environmental, Social and Governance) strategy by turning automotive waste into an economic opportunity, strengthening industrial supply chains and accelerating progress on the Net Zero pathway.

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Ola Electric has scaled up its Hyperservice into an open platform, making its proprietary service infrastructure and technology available to the wider industry. This move, the company said, will extend access to genuine spare parts, diagnostic tools and service training modules to independent garages, mechanics and fleet operators across India.

Starting now, genuine Ola Electric spare parts can be purchased directly through the Ola Electric Customer App and website. The company aims for this to mark a new era of service freedom for its customers, allowing them to choose where and how to service their vehicles.

In the initial phase, key spare parts are available, with subsequent phases during the quarter planned to extend access to diagnostic tools and technician certification programmes.

The company states that its Hyperservice scale-up will further strengthen its unit economics by expanding its high-margin parts and accessories vertical, which scales organically with its customer base. By opening access, Ola Electric aims to drive higher volumes through its supply chain, creating a scalable and profitable model.

Bhavish Aggarwal, Chairman and Managing Director, Ola Electric, said, “We have built our service ecosystem from first principles, using technology to make it fast, transparent and efficient. With Hyperservice scale-up, we are opening this capability to everyone. Every garage, fleet, and customer can now access the same high-quality tools, parts, and systems that power Ola’s own network. Genuine parts, full transparency and no middlemen. This is true service freedom, only possible in a D2C model.”

The initiative is also designed to create an opportunity for India’s garage ecosystem, allowing mechanics to self-train and become Ola-certified on EV technologies, potentially creating new income streams and skilled EV technicians nationwide.

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Shriram Automall India (SAMIL), one of the leading platforms for pre-owned vehicles and equipment, generated business worth over INR 1 billion during its Diwali Auction 2025. This result was achieved across more than 135 live auctions conducted nationwide, despite recent price cuts on new vehicles under the new GST rates.

The company said over 11,000 pre-owned vehicles and equipment were transacted from various sellers, including NBFCs, Banks, OEMs and insurance firms. Approximately 13,000 buyers participated in the auction across the country.

The auction was powered by SAMIL’s 'Phygital' model, which seamlessly integrated live, on-ground auctions at Automalls with real-time digital bidding via the MySAMIL App and its website.

Sameer Malhotra, Director and CEO, Shriram Automall India, said, "The SAMIL Auction 2025 was a celebration of India’s entrepreneurial spirit and the power of its festive joy. Hosting 135 auctions simultaneously and achieving over INR 1 billion in transactions in a single day is not just a milestone; it’s a testament to trust, technology, and teamwork. Our auction model, AI-powered bidding, and real-time dashboards have redefined how Indians buy and sell pre-owned assets.”

As part of its corporate social responsibility, SAMIL awarded Junior Einstein Scholarships to children of individuals from the automotive industry. Additionally, the company conducted tree plantation drives at every auction location to support environmental sustainability.

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