| Date: |
27-04-2015 |
| Subject: |
Car Exports from India Down 1.66% |
|
BENGALURU: Though the domestic car market in India seems to have stabilised in recent months, exports were hit in the previous fiscal (Fy15) with a decline of 1.66 per cent.
Car makers, both Indian and others, have put in efforts to make the country an export hub. Passenger car exports from India stood at 5,42,082 units in Fy15 when compared to 5,51,218 units in the previous fiscal (Fy14). India exports various models of cars to regions like Europe, Sri Lanka, Africa and West Asia among other markets.
Traditional markets like Europe was down due to the slowdown in the region while car makers continue to face increasing taxation issues in Sri Lanka, it was reported.
Korean car maker Hyundai Motors India Limited (HMIL) saw a decline of over 18 per cent after the parent company decided to shift production of various Hyundai models from India to its plants in Turkey and Czech Republic late last year.
India’s biggest car maker Maruti Suzuki Limited (MSL) exports was up 9.77 per cent at 1,09,593 units in Fy15 when compared to 99,832 units in the previous fiscal.
Source : newindianexpress.com
|