Tag: FY24
Industry News tyres

Tyre sector revenues to grow by 7-9% in FY24: ICRA

Operating margins to expand by ~150-200 bps in FY 2024 with favourable product mix and stable movement in input prices ICRA pegs domestic tyre demand growth at 6-8% for FY 2024, supported by stable growth in the replacement segment and sustained demand momentum in the OEM segment. ICRA expects the demand momentum in the OEM […]
COMPONENTS

Auto component replacement demand to grow at 6-8% in FY24: ICRA

ICRA estimates that the average age of M&HCVs had increased to almost 10 years, while the average age of PVs had risen to 7.3 years in FY2022, the highest in the past two decades The aftermarket segment constitutes around a fifth of the overall demand and remains a vital cog in the Indian auto component […]