Passenger car exports from India decline 7% in Aug

Society of Indian Automobile Manufacturers (SIAM) said that eversince automakers decided to concentrate on the strong domestic market, the passenger car exports from India fell by 7.21 per cent in the month of  August whereas the international markets are yet to pick up demand. As per the recently released figures by the Society of Indian Automobile Manufacturers, the passenger car exports in August were at 37,952 units as against 40,901 units in the same month last year. SIAM Director General Vishnu Mathur said that the decline in export is understandable, as companies have decided to focus on meeting the domestic demand.
 
In the month of August, the domestic car sales grew 33.24 per cent to 1,60,794 units against 1,20,681 units in the same month last year. SIAM stated that moreover, the export markets are still not yet buoyant. The decline in overseas shipments of car was due to the biggest exporter from the country, Hyundai Motor India which registered a dip of 12.28 per cent in August at 22,035 units as against 25,120 units in the corresponding month, an year ago. SIAM stated that Maruti Suzuki India also saw its exports down by 18.4 per cent at 11,972 units from 14,672 units in August last year.
 
This year, Nissan Motor India sold 1,469 units of the car in overseas market in August. Another auto major, Ford India recorded a nine-fold jump in exports at 983 units in August compared to 105 units in the same month last year. As per the data provided by SIAM,  total two-wheeler exports from India grew by 39.17 per cent to 1,25,057 units during the month, as against 89,856 units in the year-ago period.

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