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 […]