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India's passenger vehicles export dips 7.37pct in Q1 2018.


Date: 19-07-2018
Subject: India's passenger vehicles export dips 7.37pct in Q1 2018
PTI reported that passenger vehicle exports declined 7.37 per cent in the first quarter of 2018-19 as various leading exporters focussed on domestic market while issues at some key markets abroad curtailed overseas shipments.

As per the latest SIAM data, PV exports declined to 1,67,161 units in the April-June period as compared with 1,80,464 units in the same quarter of 2017-18.

Hyundai exported 39,425 units during the first quarter, up 18.9 per cent from the same period of the previous fiscal. The company has been balancing production at its Chennai plant to meet requirements of both domestic and export markets.

On the other hand, Ford India exported 35,358 units during the period under review, down 27.67 per cent from April-June, 2017-18.

A Ford India official said that "Exports during the quarter were affected due to preparation for the launch of new model, Freestyle," adding the company's production was also focussed more on catering for the Indian market.

Similarly, Maruti Suzuki saw a marginal drop in its PV exports at 25,724 units during the first quarter.

Source: steelguru.com

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