Passenger vehicle exports from India rose 15.38 per cent in the first half of the ongoing fiscal with US auto majors Ford and General Motors emerging a surprise packages leading the charge, while their Korean and Japanese peers struggled to maintain momentum.
According to SIAM data, passenger vehicles exports in theApril-September period were at 3,67,110 units as against3,18,188 units in the year-ago period. In terms of absolute volume, Hyundai Motor India remainedthe largest exporter with 87,499 units at a growth of 2.01 percent.
The second largest exporter during the period was FordIndia shipping 73,821 units, a growth of 32.25 per cent.Interestingly, the company's exports were much more than whatit sold in the domestic market - 46,422 units.
Maruti Suzuki India saw a decline of 7.87 per cent in itsoverseas shipments during the first six months of 2016-17 at 60,526 units, occupying the third slot.
The fourth largest exporter Nissan Motor India alsowitnessed a decline of 7.81 per cent at 49,611 units duringthe period. The most significant gainer was General Motors Indiawhich clocked a massive 863.74 per cent jump in its passengervehicle exports at 30,647 units during the period. Incomparison, the company sold just 12,059 units in the domesticmarket, down 28.01 per cent.
According to SIAM, German auto major Volkswagen alsoexported more passenger vehicles from India than it sold inthe country during the first half of the fiscal. Volkswagen India exported 43,114 units in April-September, up 19.28 per cent. It sold only 23,329 units in thedomestic market during the same period, up 0.45 per cent.
"Some of the OEMs are working on a clear, focussedstrategy of exporting from India, which has worked out reallywell for them," Price Waterhouse Partner and auto expert AbdulMajeed said. He further added these companies are targetting markets in emerging economies such as Latin America, East Europe andAfrica, which are similar to India with the products here.
"They have made those investments for exports and they already have big network in those export markets," Majeed said. Concurring with him, Ford India Executive Director,Marketing, Sales, and Service Anurag Mehrotra said, "The most recent commencement of exports of Ford Figo as KA+ to Europe,from our state-of-the-art Sanand plant, showcases ourcontinued investment and commitment." and the World" for close to two decades. "Apart from meeting local demand, the quality vehicles andengines made at Ford's Chennai and Sanand facility are todayexported to more than 40 markets across the globe, includingparts of ASEAN, Europe, Middle-East and Africa," he added.
Last fiscal, passenger vehicle exports from India grew by5.24 per cent at 6,53,889 units as against 6,21,341 units in2014-15. Automobile exports from India were up against headwindswith Europe remaining sluggish and African nations faced amajor hurdle in dollar-denominated payout. Besides Europe, countries like Algeria, Nigeria andMorocco in Africa and Mexico and Chile, Peru and Colombia inLatin America are among the major export markets for domesticautomobile industry.