Egypt crisis worries the Indian car market.

Egypt political crisis has raised worries for the Indian auto mobile firms. Egypt also caters to be the largest auto market in West Asia for the Indian auto mobile manufacturers. The major auto makers such as Maruti, Hyundai Motors and for other auto biggies, Egypt auto market has been deserted. For Maruti, Egypt exports accounts to be 3 per cent of its total international sales which would be adversely affected due to political tension. Maruti rolls out its winning cars such as Maruti Alto and Maruti 800 in Egypt. The Indian auto company has no direct operations in India, however its single distributor is responsible for the auto mobile sales. Maruti shipped almost 4000 cars in the last financial year in Egypt.

Mayank Pareek, the Executive Officer- Marketing & Sales, Maruti said that it is a premium auto market in West Asia where in the demand for the auto giants older car models such as Maruti Alto has been stringent. He also said that the company is vigilant and keeping up with the details as there has been no sales in the distribution network in Cairo for past 25 days. The Indian auto makers are facing the crunch in sales in the European auto market which is the single biggest auto market in export is declining from the last year. For Maruti Suzuki India the exports saw a decline by 3 per cent from April to January to 1.16 lakh cars from the last years same period of 1.20 lakh.

The auto export biggies such as Maruti Suzuki and Hyundai are eying on the alternative auto markets such as Vietnam, Malaysia, Latin America and Australia due to the squeezing auto markets of Europe. Hyundai Motors India the biggest auto exporter registered a fall of 18 per cent in the first nine months of the financial year. Hyundai spokesperson said with concern that there has been no sale and if it continues the exports will be greatly affected in future.

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