Mumbai: India’s auto component production is likely to remain the same as last year. Deepak Jain, Chairman, Automotive Component Manufacturers Association of India (ACMA), expects the upcoming festive season to be higher than the FY2019 sales in the automotive market. Volumes are down by 30-35%.

Auto sales in FY2019 stood at 26.3 million units, down 18% from 21.5 million units in the previous fiscal year ending March 31, 2020 The industry is facing hurdles such as local blockades and exodus of personnel, Jain said in an online press conference, adding that sales could fall further in fiscal 2021 due to massive loss of business in the first quarter.-There is a shortage of technicians during the blockade. Component manufacturers are increasing their inventory before the end of the year to minimize the impact of the local blockade, he added.

There is some budding demand in the rural market that is growing, especially in the agriculture equipment and both the-Wheeler segment. The preference for private vehicles may also increase demand for the parts industry as Indian cities open up, Gina said.

Another sprout is the government’s willingness to revitalize the domestic manufacturing sector and reduce imports, Jain said, “If this happens in the next two to three years, it will be a good catalyst for the auto parts industry.” ‘

While industry executives were discussing the performance of the parts industry in fiscal 2020, unidentified hackers hijacked the Zoom app conference, scribbling on screens, displaying obscene images, and abusing attendees as people were forced to leave and regroup.

Vinnie Mehta, Director General of ACMA, said that sales in India’s auto component industry declined by 11.7% to $493% crore (Rs 3.7 billion) in FY2020. This includes revenues from supply to domestic manufacturers, exports and aftermarket sales.