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.”

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Lubrizol has announced the appointment of Abhishek Shrivastava as its new Managing Director for India, the Middle East and Africa (IMEA).

The company said that he comes with extensive experience and technical expertise to accelerate growth and enhance its support for customers throughout the region.

In his new role, Shrivastava will oversee Lubrizol’s regional strategy, focusing on fostering local innovation, strengthening manufacturing and supply chain capabilities and developing the company's talent pool. He brings nearly two decades of experience in business transformation, R&D and technical leadership. Most recently, he served as Lubrizol's Vice-President, Innovation and Decision Science, where he was instrumental in developing sustainable and digital innovation capabilities.

Rebecca Liebert, Lubrizol's President and CEO, said, "Abhishek’s appointment reflects the strategic importance of the IMEA region for Lubrizol’s future. His deep industry knowledge, technical expertise, and ability to align innovation with customer needs make him ideally suited to support the region’s growth potential and strengthen our presence across these key markets."

Shrivastava will be responsible for driving a ‘local-for-local’ model, enabling regional teams to identify and capitalise on market-specific opportunities. He will also work closely with global and regional leadership to deepen engagement with customers, suppliers, and other stakeholders across the IMEA markets.

"India, the Middle East and Africa are dynamic regions, full of opportunity and home to exceptional talent. Lubrizol has a strong legacy here, and we are committed to furthering localised innovation, regional collaboration and impactful partnerships. As industries evolve, we remain dedicated to collaborating closely with our stakeholders and developing solutions that address local needs," Shrivastava commented.

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Valvoline Cummins and Mahindra & Mahindra have announced a new strategic collaboration, deepening a relationship that has spanned over two decades. Under a new four-year agreement, Valvoline Cummins will now be the primary supplier of genuine lubricants for Mahindra's aftermarket business, including products sold under the Mahindra - Maximile brand.

This partnership will see Valvoline Cummins supply a range of high-performing lubricants, such as engine, transmission and axle oils, specifically tailored for Mahindra’s entire fleet of passenger vehicles, SUVs and pickups. These products will be distributed through Mahindra's expansive dealership and ‘Bazar’ networks in India's North, West and East zones.

Sandeep Kalia, Managing Director, Valvoline Cummins, said, “As a trusted partner with Mahindra for the past decade, we are excited for this evolution of our relationship. Today marks a major milestone that will enable significant business growth and reflects further confidence in our people, technology, innovation, serviceability and continuous commitment to customer centricity as a core value.”

Michael Dreyer, Senior Vice-President, Valvoline Global Operations, added, “Mahindra is fast becoming a trusted global brand, and Valvoline is well positioned to collaborate across geographies and support their global ambitions. This strategic agreement unites two trusted names with a shared focus on performance, innovation and sustainability. As Valvoline expands its role within the Mahindra ecosystem, the collaboration is set to deliver enhanced value across vehicles, and customer experiences — setting new benchmarks for excellence in automotive lubricant solutions.”

In a move that aligns with the sustainability goals of both companies, Valvoline Cummins will also introduce Post-Consumer Recycled (PCR) packaging for its products supplied to Mahindra, reinforcing their commitment to responsible business practices and environmental stewardship.

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Schaeffler India has launched the fourth edition of its Social Innovator Fellowship Program under its CSR initiative, HOPE. The programme aims to support young innovators aged 18 to 35 who are working on scalable solutions to address environmental and societal challenges.

Ten selected fellows will receive a grant of INR 175,000 each and participate in a 24-week hybrid mentorship programme at IIMA Ventures. The fellowship includes access to Schaeffler India’s innovation network and resources to help scale their projects.

Applications are open to individuals, groups, institutions and both for-profit and non-profit organisations across India. The focus areas include environmental sustainability, renewable energy, carbon neutrality, circular economy, natural resource management and the use of technology in the social sector. Applicants must present a working prototype, a clear target audience and a roadmap for growth and viability.

A multi-stage selection process, including interviews and a final pitch, will be conducted by a jury comprising Schaeffler India leadership and India Accelerator experts.

Harsha Kadam, Managing Director & CEO, Schaeffler India, said, “At Schaeffler India, we truly believe in innovation and development, and we have been investing in inclusive and sustainable programs. Through structured initiatives such as HOPE, we aim to empower and nurture visionary young innovators with a pioneering spirit who are developing technology-driven solutions for social sectors and environmental issues, making a meaningful difference through their unique approaches. Schaeffler aims to be both an enabler and catalyst in solving these issues, affirming its belief in innovation as a force for equitable progress”.

Shibi Mathew, Head of HR and CSR, added, “We are deeply committed to advancing the meaningful progress of our communities. We proudly announce the launch of the Schaeffler India Social Innovator Fellowship Program for 2025, with the primary aim of harnessing and supporting the pioneering spirit of young and passionate innovators across India. This program offers a remarkable opportunity for talented individuals to bring improvements to social and ecological issues through their innovative solutions. We eagerly await the participation of outstanding leaders who will demonstrate a strong commitment to developing transformative solutions, resulting in more resilient systems, empowered communities, and positively impacted lives.”

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Tier 1 supplier Uno Minda has introduced its new range of advanced LED indicators for motorcycles in the Indian aftermarket at INR 1,137. These innovative blinkers aim to enhance both the aesthetic appeal and on-road safety for riders.

Designed to complement traditional motorcycles, the new LED indicators promise straightforward installation, improved visibility and enhanced durability. Uno Minda highlights their high-visibility lighting, which significantly boosts safety in low-light and busy traffic conditions. The indicators also boast an IP67 rating, making them waterproof and dustproof, capable of withstanding various weather and road conditions.

Anand Kumar, Vice President – Sales & Marketing, Aftermarket Domain, Uno Minda, said, “At Uno Minda, we are committed to delivering solutions which help the modern motorcycle rider. Our new LED blinkers for Royal motorcycles offer superior safety, durability, and aesthetics, ensuring riders experience the best in performance and reliability. This launch is part of our ‘Driving the New Technology’ initiative, under which we aim to consistently introduce innovative, performance-driven products to the Indian aftermarket. With an IP67 rating, these LED blinkers are built to endure even the toughest weather conditions. Waterproof and dustproof, they are designed to function reliably in rain, snow, or dust, ensuring long-term durability and performance, regardless of the environment. The LED blinkers are designed with a sleek, unique look that effortlessly enhances the iconic Royal Motorcycles style and serves as a perfect aesthetic and functional upgrade, as these blinkers significantly improve rider safety by increasing visibility in low-light and high-traffic conditions, reducing the risk of accidents.”

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