Auto part makers may lose Rs 4.5K crore due to trade tariffs: Icra

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Auto part makers may lose Rs 4.5K crore due to trade tariffs: Icra - Business Standard

Quick Summary:

Icra expects the revenue growth of Indian auto component industry, represented by sample of 46 auto ancillaries with aggregate annual revenues of over Rs 3 lakh crore in FY2024, to ease to 6-8 per cent in FY2026, against 8-10 per cent projected earlier, if there is mid-to-high single-digit revenue decline in exports to the US, stemming from the tariff-related impact, it said in a statement.

Leading auto component manufacturers could take a revenue hit of up to Rs 4,500 crore in the current fiscal due to dip in overseas shipments stemming from the tariff-related impact, ratings firm Icra said on Monday.

The steep increase in import tariffs imposed recently by the US is estimated to burden the entire supply chain with an incremental cost of around Rs 9,000 crore, which will need to be borne by the US consumers, US importers, and Indian exporters, it said.