Car Exports Jump 41% in July On Demand From Non-Europe Nations.

New Delhi: Passenger car exports from India have grown 40.83 percent in July this year due to increase in demand from non-European nations in recent months, Society of Indian Automobile Manufacturers (SIAM) said Wednesday.

According to SIAM, the car makers sold 48,091 units in overseas markets last month compared to 34,149 units in the corresponding period last year.

The growth in exports is in sharp contrast to the scenario in the domestic market, where car sales have fallen for the first time after 30 months of continuous growth with 15.76 per cent decline in July this year.

"We have seen some kind of revival in car exports. Though Europe is still flat, other markets are doing very well," SIAM Director General Vishnu Mathur told reporters here.

The car exporters have also ventured into new markets like Latin America and Africa to push their sales, he added.

The country's largest car exporter Hyundai Motor India despatched 24,025 units during last month, up 11.23 percent.

Domestic car market leader Maruti Suzuki India's sales in the overseas markets, however, declined by 17.50 percent to 8,741 units.

Car maker Ford's exports soared by over four-fold to 3,202 units on account of selling its small car Figo in various new markets.

SIAM said total two-wheeler exports also witnessed robust growth of 29.42 percent at 1,75,970 units in July as against 1,35,973 units in the year-ago period.

Motorcycle exports during the month also went up by 27.97 percent to 1,66,546 units from 1,30,148 units in the same period last year, it added.

Two-wheeler major Bajaj Auto sold 1,15,769 motorcycles in the overseas markets in July 2011, up 32.09 percent. Exports of TVS Motor increased by 28.64 percent at 22,079 units.

However, Hero MotoCorp (formerly Hero Honda) saw its bike exports falling by 15.85 percent, down at 9,952 units.

During the month, total commercial vehicle exports surged by 30.64 percent to 7,499 units from 5,740 units in the corresponding month last year, SIAM said.

The overall vehicle exports of all categories from the country increased by 33.36 percent in July to 2,64,486 units from 1,98,331 units in the same month last year.

Source : zeenews.india.com