Car exports from India plunge by nearly 4% in Apr-Feb

Car exports from India plunge by nearly 4% in Apr-Feb

The scenario of car shipment is sluggish as car makers exported 5,03,292 units last year as against 4,84,602 units in this fiscal

 The Dollar Business Bureau

Exports of Indian passenger cars dipped by 3.71% to 484,602 units as compared to 503,292 units in the same period of last year, mainly because of new and more challenges in the top markets that India regularly exports to Europe, Algeria and their neighbouring countries. Last year, the car exports from India had declined by 1.66% to 542,082 units due to new challenges in the export market from Europe, Sri Lanka and Algeria. The Society of Indian Automobile Manufacturer (SIAM) feels that the decrease in exports of cars from India this year is because of some issues in Algeria. Algeria is ahead of other countries in terms of purchasing more number of Indian cars. But, the country’s Govt. has brought about changes in its technique regulations that have marred the sales of Indian cars. Inactive car exports market from India shipped less in units as compared to the last fiscal year and in the same period. For example, Maruti Suzuki India had exported 104,117 units this year while it shipped 102,590 units last year. On the other hand, Nissan, the Japanese car manufacturer exported 101,730 units in the current year as against 108,980 units last year. If we look at the picture of car exports from India that included vans, cars, UV’s and so on, exports have risen 3.14% to 591,878 units in April-February, from 573,842 units from the previous year. In 2014-15, Indian car companies shipped vehicles worth $293 million to Algeria, $158 million to Sri Lanka and $335 million to the United Kingdom.  

March 15, 2016 | 06:00pm IST

The Dollar Business Bureau - Mar 15, 2016 12:00 IST