Subsidy cut a speed bump, but manufacturers are adapting to the new regime After almost trebling to 7.3 lakh units1last fiscal, volume growth of electric two-wheelers (e2Ws) is set to slow to ~25% this fiscal following the recent reduction of subsidy under the FAME-II scheme and consequent price hikes in existing models. The good part […]
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By Hemal Thakkar, Senior Practice Leader & Director – Consulting, CRISIL Market Intelligence & Analytics The transition from internal combustion engine (ICE) vehicles to electric vehicles (EVs) accelerated in India during fiscal year 2023, driven by government policies that incentivized both manufacturers and buyers. The uptake has been impressive across vehicle segments, as reflected in […]
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The Indian automotive components sector will clock 10-12% growth in revenue in fiscal 2024, riding on continuing domestic growth buoyed by robust demand from original equipment manufacturers (OEMs)1 on the back of high base of past fiscals, and steady aftermarket demand. This is despite exports continuing to remain sluggish. Continuing demand momentum, driven by OEMs, […]
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