Automotive Component Manufacturers Association of India (ACMA) announced the findings of its industry performance review today, for the first half of fiscal 2022-23. The turnover of the automotive components industry stood at $33.8 billion for the period April 2022 to September 2022, registering a growth of 34.8 percent, over the first half of the previous year. As per ACMA, the aftermarket in H1 2022-23 witnessed a growth of eight percent to $5.4 billion from $5.3 billion in H1 2021-22.

Commenting on the performance of the auto components industry in India, Vinnie Mehta, Director General, ACMA, said, “With vehicle sales and exports gaining traction, month-on-month, the auto components industry demonstrated a growth of 34.8 percent. Steady growth was witnessed in all the segments, from supply to OEMs to exports to the aftermarket. Exports grew by 8.6 percent to $10.1 billion while imports grew by 17.2 percent to $10.1 billion. The aftermarket, estimated at INR 420.07 billion, also witnessed a growth of eight percent. Component sales to OEMs in the domestic market grew by 46 percent to INR 2.23 trillion.”

Mehta went on to point out that Europe and North America remain the two primary export destinations. Exports to the CIS and Baltics fell sharply by 66 percent due to the war in Ukraine and the sanctions imposed in Russia, he said. “There has been a growth in electronics and electricals, thanks to the growing electric mobility,” Mehta added. “The usage of vehicles, for personal as well as commercial use, started to increase with recovery from the pandemic. The industry size surpassed pre-pandemic levels due to a combination of factors. For example, the surge in demand for new vehicles and used vehicles, shift in preferences towards larger/more powerful vehicles and an increase in commodity prices.”

Mehta also highlighted what holds good for the Indian auto components industry, like the domestic demand continuing to be strong, a focus on clean and new technology, new entrants in the mobility space, and more. He informed about aspects that do not work in favour of the industry and need to be overcome as well, such as the Russia-Ukraine war, the looming recession in Europe and the US, and high GST rates on auto components.

Sharing his insights, Sunjay Kapur, President, ACMA, and Chairman, Sona Comstar, said, “With vehicle sales across all segments reaching the pre-pandemic levels and moderation in the supply-side issues, such as availability of semiconductors, high input raw material costs and non-availability of containers, the auto components sector witnessed a steady growth in both domestic and the international markets in the first-half of FY2022-23. With the domestic manufacturing of vehicles and components gathering pace, imports also witnessed an uptick.”

Elaborating on the mood of the industry and outlook for the near to mid-term future, Kapur mentioned that going forward, he is optimistic that the current fiscal year will witness another good performance from the auto components sector. “Further, with growth in consumption of EVs, we are witnessing fast transformation of the auto components sector to be an integral part of the EV manufacturing supply chain,” he said. “The components industry is making steady investments as also acquiring technology companies. For a medium to long-term outlook, we need to be wary of the impending recession in Europe and the US as also the supply chain issues which are not fully behind us.”

Speaking about how the two-wheeler segment is flourishing, Kapur cited that the festive season was very positive for this segment. He explicated, “We hope that the two-wheeler segment will come back on the growth track. This segment is also giving speed in terms of electrification.”

With the Covid surge in China, Kapur shared that they have battened down the hatches. “We are well-prepared for scenarios where we see some kind of uncertainty,” he expressed. “Also, as we continue to localise and invest in new technologies, we hope to reduce our dependence on other countries.”

The fifth edition of Automotive Component Manufacturers Association (ACMA) India’s Automechanika organised by Messe Frankfurt is going to be hosted in New Delhi from 1^st to 3^rd February, 2024 at Pragati Maidan. 

This edition will present over 100 new participants on a 25,000 sqm show floor. The fair will also host knowledge-sharing sessions, conferences and discussions to expand opportunities for networking and collaboration. 

Solutions from brands like Schaeffler, ZF India, Mahle Aftermarket, NRB Bearings, Mansons International, Subros, J K Fenner, Minda Corporation, RMP Bearings, Celette India and several others will be on display. The list of international brands includes Sampa Otomotiv, Liqui Moly, Industrias Del, Recambio and more from USA, UAE, Germany, Russia, Korea, Italy, Belgium, Taiwan, Thailand and China. Additionally, four dedicated international pavilions will be created for Germany, Korea, Taiwan and Thailand.

Showcasing exclusive solutions for two-wheelers, passenger, commercial and agricultural vehicles the show will welcome stakeholders including wholesalers, distributors, traders of parts and components, professionals from car repair shops, garages, service stations and fleet management. The display of products and solutions will vary from different categories like parts and components, electronics and connectivity, diagnostics and repair, accessories and customizing, car wash and care, dealer and workshop management, alternative drive systems and fuels, tires and wheels, body and paint, mobility as a service and autonomous driving. 

This edition is seeing partnerships with TechSci Research as Knowledge Partner, Elofic Industries Ltd. and HIM Tecknoforge Ltd. as the Bronze Partners and Ample Auto Tech as the Lanyard Partner. Federation of All India Automobile Spare Parts Dealers’ Associations, All India Automobile Workshops Association, Automotive Parts Merchants Association, European Garage Equipment Association, AAMPACT, FIGIEFA, Federal Association of Manufacturers and Importers of Automotive Service Equipment are on the list of supporters for this edition of the event. 

According to the ACMA’s report on ‘Auto Components Industry Review for Financial Year (FY) 22-23’, the major growth drivers of this industry over the last five years have been — growth in domestic vehicle sales; a strong aftermarket and increasing exports. The size of the industry has grown by 33 percent from INR 4213.66 billion in FY22 to INR 5597.48 billion in FY23. Auto aftermarket grew by 15 percent from INR 742.03 billion in FY22 to INR 853.33 billion. It was also reported that electric vehicles have accounted for a total of 2.7 percent of component consumption. 

Vinnie Mehta, Director General, ACMA India stated, "The automotive industry is experiencing significant growth, driving an increased demand for auto components and the aftermarket sector. The outlook for the industry is optimistic, given the continuous expansion of the market size and the notable growth in component exports, rising by five percent to USD 20.1 billion in FY 2023 from USD 19.1 billion in FY 2022. Notably, exports to North America, Europe, and Asia have witnessed growth in 2023 compared to the previous year. As this edition of Automechanika marks the first physical edition post COVID-19, we are delighted to witness the enthusiasm of exhibitors from both India and abroad, along with the support of associations and all stakeholders associated with the industry. This collective effort is set to create a vibrant show floor once again.”

Raj Manek Executive Director and Board Member, Messe Frankfurt Asia Holding Ltd. said, “After the successful past editions of the show, we are excited for the fifth physical edition of ACMA Automechanika New Delhi 2024. The Indian vehicle industry including passenger, lightweight and heavy-duty vehicles is growing at a fast pace and India has witnessed this growth trend this year across these segments. The growth of vehicle sales is a clear indicator of growth for the auto components and aftermarket industry. We are excited to once again bring new solutions and technologies from India and around the world leading to propel this industry in the future.”

Ajay Seth, Vice President – International Business, Elofic Industries Ltd. expressed, “We are thrilled to be the Bronze Partner with ACMA Automechanika New Delhi. This partnership will bring unparalleled expertise and innovation to this prestigious event and to the auto components and aftermarket industry. This collaboration not only elevates the event's success but also amplifies our company's commitment to pioneering automotive advancements. Let's fuel progress, inspire change, and redefine the future of auto mechanics together.”

Mrinal Aggarwal, Director, HIM Tecknoforge Ltd. said, “We are glad to be the Bronze Partner for the upcoming edition of ACMA Automechanika New Delhi 2024. We take pride in serving the not only the Indian but the global aftermarket assembly well. Like in the past, this collaboration will once again drive enriching networking opportunities and help showcase our vast variety of products which include Transmission, Differential and Suspension along with various assemblies and Sub-Assemblies, manufactured through cutting-edge technologies vital for the growth of aftermarket. This partnership will contribute towards shaping of the future of automotive components and aftermarkets industry through this spectacular event where the entire value chain of this segment will converge.

Arvind Choudhary, Managing Director, Ample Auto Tech Pvt. Ltd. mentioned, “ACMA Automechanika carries with it the credibility that attracts the right kind of Indian as well as international clients. As India evolves to be the global manufacturing hub, ATEK is looking forward to utilize the platform to display its engineering strengths and manufacturing capabilities and increase its market reach.” 

Shell Lubricants joined hands with Hoopy, a unique technology-driven business, to introduce contactless, easily accessible, and immensely reliable two-wheeler doorstep servicing to India.

The concept of the service arose out of the need to create a steady source of income for the mechanic community, impacted severely by the COVID-19 pandemic

Shell and Hoopy, as partners, are keen to help with the safe recovery of the mechanic community as they gradually return to their workspace.  In the coming days, the partnership will be focused on training and generating business for up to 5,000 mechanics, with an aim to support them in overcoming adversities that have risen due to the pandemic's impact on their livelihoods. This would help in creating a community of empowered, self-sustaining mechanics equipped with the latest know-how from experts in the automotive industry. The partnership and programme will also ensure a steady business flow for mechanics with the possibility of making 30-40% higher income than they would in garages.

“During the thousands of virtual interactions that we have had with two-wheeler mechanics over the past few months, we realized that footfalls to their business and hence, their income itself has become very inconsistent. Many of them urged us to do something in this regard and this is an idea that stuck with us, an initiative to not just create better livelihood opportunities for them, but also to create greater self-reliance amongst them, ” said Raman Ojha, Country Head, Shell Lubricants India.

In this new normal, more customers are demanding contactless services while also ensuring affordability. Our collaboration offers a convenient option to avail economical services on a technology-driven platform where they can make bookings, track service request journeys on a real-time basis, and pay on the app and website, hassle-free from the comfort of their homes. Most importantly, get their vehicle serviced anywhere, anytime from a reliable and well-trained professional.

Shashank Dubey, Co-founder, and COO, Hoopy added, “We are thrilled to have Shell as our exclusive expansion and lubricant partner. Shell is synonymous with trust and quality, and this collaboration will enable us to deliver a much-desired combination of convenience, care, and quality to people’s doorstep in these trying times. Our partnership will set a benchmark for how customers can enjoy a safe and high-quality two-wheeler servicing experience amidst COVID-19.” (MT)

HARMAN, an audio solutions provider, has expanded its car aftermarket offering with the launch of the JBL CLUB 605 CSQ (a car speaker system) and JBL Celebrity 100, a Bluetooth-enabled multimedia player for cars.

The JBL Club 605 CSQ is a 160 mm 2-way SQ component speaker system engineered to provide a superior audio experience for cars. Most cars in India can be fitted with this INR 15,990-speaker system due to its compact design. The 93 dB high-sensitivity speakers deliver outstanding performance through a carbon fibre woofer with Plus One architecture. The speaker system comes with all the required installation accessories.

The JBL Celebrity 100 is a Single-Din MP3 player with a detachable front. The system is designed to offer convenient access to music through options like Bluetooth, USB input, auxiliary input, SD card and FM radio. This multimedia player, with 18 preset FM stations, is available at a starting price of INR 5,490.

Vikram Kher, Vice President – Lifestyle Audio, HARMAN India, said, “The industry has been witnessing a spurt in demand of personal vehicles, which has, in turn, revived the car aftermarket segment. The JBL Car Aftermarket (CAM) audio has been a show-stealer in this space. Backed by JBL’s 75 years of sound heritage and smart design capabilities, these new speakers and MP3 player will appeal to all car owners who wish for an immersive audio experience in their vehicles.” (MT)