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January passenger car exports from India down by almost 19%


Hyundai, Maruti Suzuki, Volkswagen among the names with biggest losses

 

January passenger car exports from India down by almost 19%

Affected by international economic challenges, the passenger car shipments from Indian markets went down by 18.85 per cent (y-o-v) to 33,909 units in January 2016. Out of countries affecting this statistic, which stood at 41,787 units in January 2015, the most include Algeria, a bunch of European nations and some neighbouring states. 

 

Contributing to around Rs 2,000 crore worth of exports in the same period during 2014-15, Algeria has brought in certain technical regulations to affect trade this time around. In a statement to PTI, Society of Indian Automobile Manufacturers (SIAM) deputy director general Sugato Sen informed that the body has even visited the country to find solutions to the problem and is ‘bothered’ by the situation. 

When asked whether the auto industry expects some headway regarding relaxation of regulations in Algeria, Sen said, "I don't think they will budge from their stand, we will have to adjust accordingly."

Apart from Algeria, PVs worth Rs 1,076 crore were exported to Sri Lanka by Indian automakers in the face of high taxation issues. Elsewhere, UK shipments also accounted for Rs 2,281 crore of exports as the European markets are still in recovery mode from a previous slump. 

Companies with the highest amount of negative growth during this period comprised the country’s top exporter Hyundai Motors India Ltd and country’s top manufacturer Maruti Suzuki India. While the Korean carmaker stood at 4,335 units, down by 56.66 per cent from 10,003 units in January 2015, the latter’s exports declined by 36.25 per cent to 6,467 units compared to 10,145. 

Japanese carmaker Nissan also saw its exports decline 11.29 per cent to 8,892 units last month from 10,024 units during the year-ago period. Toyota Kirloskar Motor's exports of passenger cars declined 56.69 per cent to 738 units, while Volkswagen reported nearly 14.73 per cent decline in shipments to 6,230 cars.

Falling in line with this downfall pattern, the sales of passenger cars in India also slipped for the first time in 14 months. Domestic car sales in January declined marginally to 1,68,303 units compared with 1,69,527 units in January 2015, as indicated by data from SIAM.