Automobiles & Auto Components

The Auto Components industry in India is expected to grow to $200 Bn by 2026. The auto component industry sized-up to INR 5.60 Lakh Cr registering a 32.8% growth, thus outpacing its highest ever turnover of Rs. 4.20 Lakh Cr in FY21-22.

India set to manufacture 5 Lakh EV three wheelers, at least 55,000 EV four wheelers and 7000 EV buses by 2024. The aftermarket turnover in FY 2022-23 of the Auto Components industry stood at $10.6 Bn as compared to $10 Bn in the previous year.

Auto Component sales to OEMs, in the domestic market, grew to $59.3 Bn which is a growth of 39.5% over the previous year.

With a 20.1% contribution to the manufacturing GDP, the automotive sector is a top driver of macroeconomic growth and technological development in the country (UNIDO IAP, 2023).

YO HR Consultancy teams strength lies in partnering with organisations to build leadership Capabilities with a strong understanding of their needs As the industry evolves, companies need visionary leaders and staff with a diverse range of skills.