India's auto component industry is expected to face only a limited impact from the potential reciprocal tariffs proposed by US President Donald Trump on auto industry, according to a report by Nomura.
The Indian automobile retail sector saw a strong start to 2025, with overall sales increasing by 6.6 per cent year-on-year (YoY) in January, according to the latest report by the Federation of Automobile Dealers Associations (FADA).
The Union Budget 2025-26 has garnered a positive response from the auto industry, with industry leaders welcoming the government's "focus on long-term economic growth, manufacturing, and regulatory reforms".
Prime Minister Narendra Modi on Friday said that for the growth of the auto industry, both demand and aspiration are important, and fortunately, both are vibrant in India today.
Demonstrating resilience and growth, the domestic automobile sales recorded a surge of 11.6 per cent, standing at over 2.54 crore units in calandar year (CY) 2024, compared to about 2.28 crore, as per the data released by Society of Indian Automobile Manufacturers (SIAM) on Tuesday.
Prime Minister Narendra Modi paid his condolences on the demise of Osamu Suzuki, Senior Advisor at Suzuki Motor Corporation and Director and Honorary Chairman at Maruti Suzuki India.
The domestic passenger vehicle industry volumes declined by low single digit in August 2024 as compared with August 2023, Kotak Institutional Equities says it is because of weak retail demand trends and higher inventory levels at the dealerships.
In March 2024, the Indian auto industry produced a total of 2,325,959 units, covering Passenger Vehicles, Three-wheelers, Two-wheelers, and Quadricycles.
Union Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles, Piyush Goyal, on Friday urged the auto industry to not limit itself to achieving a 25 percent export share but rather aim for at least a 50 percent export share.