India’s Sales Growth of Auto Components up 15.7% in 2011

According to the statistics of Automotive Components Manufacturers’ Association, India (ACMA), the total sales of Indian auto components industry from early April 2011 to late March 2012 was USD43.4 billion, up 15.7% year-over-year. ACMA indicated though the uncertainty remains in the domestic market, ACMA is optimistic about the middle to long-term prospects of the industry. However, from 2012 to 2013, the acceleration of growth would slow down compared with the previous year and is expected to maintain at a level of 8-10%.    

ACMA added, in 2011-2012, the total export value of the Indian auto components amounted to USD6.9 billion, up 32.7% year-over-year among which the exports to Asia accounted for 28%, those to Europe and North America accounted for 36% and 23% respectively. The total import value of India in the same year achieved USD10.6 billion, up 25% year-over-year among which the imports of Asia and Europe accounted for 57% and 35% respectively.