Indian Auto market accelerating despite export issues

The World's second largest auto market which created a history in the year 2010 by marking a tremendous success, has been continuing the same success story in the running year as well. Many major players of Indian auto market have registered good progress in the month of January 2011 as well. But at the same time level of exports have dipped down to alarming level. As per a report, ten of the top car makers have made a growth of 14 % by selling a total of 245,664 units as against the 216,002 units sold year 2010.

At the same time reports also says that the exports of both Hyundai Motor India Limited (HMIL) and Maruti Suzuki India Limited (MSIL) which amounts to 65% of sales in the Indian auto market have been at concerning level. Maruti Suzuki India Limited cars are the highest selling cars in Indian auto market being almost one of every two cars sold here. The company reported 109,743 units sale this year which is a 14.7% hike. The sales in the domestic market took a high swing of 23.8 per cent which is equal to 100,422 units but at the same time, the exports fall to the lowest level in past 3 months to 9,321 units. MSIL has marked a great success by selling 1-million units first time in India within just first three quarters. The April to December sales amounted to 1037,408 units by the company.

As per the reports, HMIL faced a drop in sales owing to the lower exports. The company also faced a drop in exports by 43.5 % amounting to 13,010 units during the month. In the Indian Auto market the sales went up by 2.4 % amounting to 30,306 units. Moreover Hyundai blamed the slow growth to the plant shutdown because of which 5,000 cars were not delivered.

Coming to the Indian car maker, Mahindra & Mahindra, the company accelerated its growth by remarkable 15% amounting to 17,208 units whereas Tata Motors marked 15% hike in the month of January amounting to 30,212 units. The little wonder Tata Nano also flaunted a hike of 68% in its sales amounting to 6,703 units.

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