Icra expects domestic auto parts industry to grow 15% next fiscal

Icra expects domestic auto parts industry to grow 15% next fiscal
June 8, 2019 GAE
In GAE

The domestic auto components industry is expected to grow at around 15 per cent in the current financial year despite a slowdown in demand in the automotive sector, according to rating agency Icra

The growth is expected to come from healthy volume growth in two-wheelers, commercial vehicles and tractor segment until November last year. 

The rating agency also expects automobile volumes to grow 8-9 per cent during the current fiscal, as against 14.8 per cent growth during 2017-18. 

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