Friday, 5 June 2015

Revenue and Profit Hike Triggers Growth in the Auto Part Market

Last month, the ‘’ revealed that the standalone total proceeds generated by the motor parts and car accessories in India from the operation alone was nearly Rs 122.20 crore. Furthermore, the report added that the net profit of approximately Rs 7.13 crore was observed for the first financial quarter that ended in March 2015. The market condition for the auto parts and accessories is pretty much favourable across countries such as United Kingdom, Australia, Russia, Denmark, Thailand, Hungary and Ireland among other countries. 

Ireland in first week of June 2015 brought to light its sales figures that is expected to seep through the earlier 100,000 hurdle for the first time since the end of 2008. The most favourite Volkswagen Golf by far tops the list of new car buyers, with already four thousand cars sold through January to May 2015. The key car manufacturers witnessing maximum registration in Ireland includes Nissan, Volkswagen, Hyundai, Toyota and Ford, which has also triggered growth in motor vehicle part segment in the country. 

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In a new article by ‘Bangkok Post ‘Nissan emerged as the first participant for first environment friendly car in Thailand when the company was introduced in 2007, attracting a huge investment of up to 28.8 Thai baht. The company is making plans to invest approximately 6.86 billion Thai baht to manufacture 123,000 environment friendly car and over 2 million automobile parts every years at its local unit situated in Bang Na-Trat Road. Investing in auto-part retailers in United States have observed the growth of several millionaires. Over the last 5 years with Standard & Poor’s 500 figures doubling, four key enterprises in the automobile parts and accessories have observed their market size and share soar from up to 150% to over 300%. 

Recently Research Beam added a report titled “Global Motor Vehicle Part Market to 2017.” The report focusses on the market share, growth, predictions and top enterprises at the international level pertaining auto parts. In addition over the past 20 years, companies like AutoZone Inc too witnessed it stock grow by almost 2,700%. Amidst this competitive line of business, Dorman too has identified a niche, manufacturing more than 140,000 replacement automobile parts for both trucks as well as cars.   

The aforesaid company’s stock too looks promising, at a decent $47. To top it all, leading automobile parts dealer named Caffyns too made headlines when it announced that the company revenues have increased by 8.9 percent to a recent £210 million. Viewing such a tremendous moment in the auto part and accessory market its future looks hopeful.

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