Car exports on uphill drive with 22% jump in July
Passenger car exports from India grew by 22.44 percent in July, riding on the back of a scrappage programme by some European countries which incentivised buying of new cars in exchange of the old ones.
New Delhi: Passenger car exports from India grew by 22.44 percent in July, riding on the back of a scrappage programme by some European countries which incentivised buying of new cars in exchange of the old ones.
But the trend may slow down in the coming months as the global market has not fully recovered.
According to the Society of India Automobile Manufacturers (SIAM, passenger car exports stood at 33,506 units in July as against 27,364 units in the period a year ago.
Motorcycle sales in the overseas countries was up by 5.18 percent at 89,420 units compared with 85,017 units, it added.
Exports of commercial vehicles, however, decreased to 3,208 units last month from 4,482 units in the same month in 2008, down 28.42 percent.
"The overall jump in exports was mainly driven by the passenger car segment, otherwise in other categories it is very low. Global demands are still low and it will impact the future exports," SIAM Director General Dilip Chenoy told reporters here.
The growth witnessed in the passenger car category came mainly from a spurt in sales in the European markets due to the scrappage programme, he added.
Total vehicle exports from the country soared by 5.12 percent during July to 1,39,885 units as against 1,33,031 units during July last year.
The export growth in the passenger car segment was largely driven by the country`s largest car maker Maruti Suzuki India as its sales grew 87.76 percent to 10,432 units in the month compared with 5,556 units during the year-ago period, SIAM said.
The country`s largest car exporter Hyundai Motor India reported a jump of 5.99 percent in exports at 22,350 units compared with 21,086 units in the same month last year.
SIAM said exports of the total passenger vehicles, including utility cars, grew by 20.85 percent in July at 33,789 as against 27,960 units in the same month last year.
Domestic passenger car sales recorded 30.91 percent increase at 1,15,067 units in July from 87,901 units in the same month last year.