Car exports from India decline marginally in Apr-Sep period

Source: PTI

Car exports from India declined marginally to 2,67,043 units in the first six months of the current fiscal due to challenges in various markets including Sri Lanka and Bangladesh. India had exported 2,68,863 units in the same period of last fiscal, 2014-15. According to Society of Indian Automobile Manufactures (SIAM), during April-September, 2015-16, the largest car exporter from the country Hyundai Motor India saw 13.91% drop in car exports to 83,522 units from 97,021 units in April-September period of 2014-15. On the other hand, Maruti Suzuki India's (MSI) exports during the period rose by 6.34% to 61,202 cars compared to 57,552 units in same period of previous fiscal. Japanese car maker Nissan's exports also declined 3.64% to 53,704 units in April-September period this fiscal from 55,634 units earlier. Explaining the reasons for decline in exports, SIAM Deputy Director General Sugato Sen told PTI: “There has been a slowdown in some of the export markets and incentives for shipping vehicles to focussed markets like Sri Lanka and Bangladesh have been withdrawn.” As per the foreign policy document, export incentives have been curtailed on passenger cars, commercial vehicles and two wheelers, it said. Toyota Kirloskar Motor, however, saw exports of its passenger cars rise 10.11% to 8,962 units, while Volkswagen posted 12.11% increase in shipments to 36,145 cars during the April-September period. Companies like General Motors India, which have not previously given importance to exports from India, has now started shipping to overseas markets. It exported 3,180 units during the period as against 156 units last year. The company on Monday announced that it is shipping the first 3,000 left-hand-drive Chevrolet Beats to Mexico. Another American car maker Ford also saw its exports from India rising to 15,142 units as against 13,717 units in the same period last fiscal. Domestic car sales in India during the April-September period of current fiscal rose by 9.68% to 9,77,037 units as compared to 8,90,843 units in the same period of 2014-15.  

October 12, 2015 | 3:49pm IST.