The Made-in-India for the world story keeps getting stronger with each passing day. And the automotive industry is one of the strongest pillars for the Indian market and is gradually driving new opportunities in the export market.
For August, except for the motorcycle, all segments saw healthy growth in exports. The overall exports came at 4,02,693 units, which was 13 percent lower compared to 4,61,188 units exported for the same month last year.
Looking at the segment-wise sales, the passenger vehicle segment reported a 7 percent growth with 54,733 units being exported in August 2022, compared to 51,196 units shipped last year.
The SUV segment is clearly the dominating segment in the PV market growth of 29 percent, with 24,280 units shipped compared to 18,802 units last year. On the other hand, the passenger car and Van segment saw sales of 30,409 units and 44 units, which was a decline of 6 percent and 70 percent respectively.
Looking at the company-wise performance Maruti Suzuki India was the biggest exporter with 21,382 vehicles shipped, followed by Hyundai Motor India at 12,700 units. Kia Motors India, Nissan India and Renault India clocked the highest YoY growth. The company exported 8,174 units, 5,633 units, and 2,220 units respectively.
The three-wheeler segment too was in the green with 44,166 units shipped in August, compared to 36,915 units for the same period last year. The passenger carrier three-wheelers wholesales came at 43,930 units, while goods carrier segment saw 236 units being exported.
Coming to the two-wheeler segment, the scooter segment saw a growth 32 percent in wholesales export with 45,578 units (August 2021: 34,496 units). The motorcycle segment saw one of the sharpest declines of 23 percent at 2,58,048 units exported compared to 3,36,979 units for the same period last year. Exports of mopeds also came down by 92 percent with 66 units shipped compared to 858 units for the same period last year.
Despite healthy growth in the domestic market, Bajaj Auto the largest exporter of two-wheelers saw its exports decline by 32 percent in August. The company reportedly shipped 1,21,787 units compared to 1,80,339 units a year ago. TVS Motor Co too saw its exports decline by 19 percent at 76,214 units compared to 94,314 units for the same period last year. On the other hand, Honda Motorcycle & Scooter India (HMSI) and India Yamaha Motor exported 39,307 units and 30,689 units, a growth of 34 percent and 31 percent respectively.
The wholesales export for the quadricycle segment came at 102 units, which was 86 percent lower YoY.
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