Auto manufacturers to reasses export plans

Auto manufacturers reassesing their export plans after the steep fall in demand of imported cars .Due to the crash in the domestic markets, car makers are working to fulfill demand of energy efficient small cars in export markets. According to two leading car makers India is a global sourcing hub for small cars. According to Maruti Suzuki and Hyundai Motors India, orders are canceled and are kept on hold.

Because of the slow down of the market, export has reduced to 44% in the month of January this year. Hyundai India, A Korea based car maker, which exports its products around 100 countries. The company has seen a big crash in the markets.

Maruti Suzuki is at present exporting Alto, Maruti 800, Wagon R, Omni, and Zen Estilo to some non-European markets. According to Maruti’s industry marketing head Mr. Mayank Pareek, The Company has started exports of the A Star compact car to European market and the model is receiving good response.

Maruti Suzuki has exported 48,689 cars up by 17% and Hyundai India has exported 2.14 lakh cars, up by 91% while Tata motors export fell down by 43% to 5889 units during the same period.