Led by Maruti Suzuki, Hyundai, Ford and Ashok Leyland, India’s automobile exports during April-February of this financial year grew by 16 per cent generating a revenue of Rs 1.62 lakh crore.
As per the government data, auto exports during the 11- month period in 2009-10 stood at 16.45 lakh units against 14.16 lakh units in the year-ago period. In value terms, exports increased to Rs 1.62 lakh crore in first 11 months of the fiscal, up from Rs 1.28 lakh crore in the corresponding period a year ago.
According to industry experts, these exports can grow further as India is yet to fully exploit the potential of small car exports from the country. “Auto exports from India have not reached the full potential as yet…joint industry and government action could enhance the rate of growth,” Society of Indian Automobile Manufacturers (SIAM) Director General Dilip Chenoy said.
Among the different segments, goods carriers registered maximum growth (47 per cent) in exports for the period under review, followed by multi-purpose vehicles, three-wheelers and two-wheelers. In the passenger car export segment, Maruti Suzuki India clocked a growth rate of 128.7 per cent to 1,30,713 units from 57,156 units in April-February 2008-09.
Hyundai Motor India, the largest exporter of small cars, clocked 262,124 units in during the period, up 13.01 per cent from previous year. Ford India Pvt Ltd exports increased to 1,383 units from 608 units. In the goods carrier segment, exports by Ashok Leyland grew by 44 per cent to 3,139 units during April-February this fiscal from 2,180 units in the same period last year.