According to the latest data from the Society of Indian Automobile Manufacturers, passenger vehicle exports from India increased 2per cent in the second quarter, with Maruti Suzuki India leading the segment with dispatches of over 1.31 lakh units.
Total passenger vehicle (PV) exports were 1,60,590 units in Q2 FY23, up from 1,57,551 units in the same period last year. During the review period, passenger car shipments fell 5per cent to 97,300 units, while utility vehicle exports increased 16per cent to 63,016 units. Van exports fell to 274 units in the September quarter, down from 297 units in Q2 FY22.
During the period, Maruti Suzuki India (MSI) led the segment, followed by Hyundai Motor India and Kia India in second and third place, respectively.
MSI, the country’s largest carmaker, exported 1,31,070 PVs in the fiscal year under review, compared to 1,03,622 units in the same period the previous fiscal year, with the Baleno, Dzire, Swift, S-Presso, and Brezza among its top five export models.
Hyundai Motor India’s foreign dispatches were 74,072 units in Q2, up 11per cent from 66,994 units the previous year. Similarly, Kia India exported 44,564 units to global markets in the fiscal year under review, up from 23,213 units in the previous fiscal year. Nissan Motor India shipped 25,813 units during the time period under consideration. Renault exported 18,614 units in the July-September quarter, while Honda Cars India shipped 13,326 units. Volkswagen India exported 9,641 vehicles between July and September. Overall automobile exports fell to 12,54,560 units in Q2 from 14,10,711 units the previous year.
SIAM President Vinod Aggarwal stated that as the US dollar gains strength, various Asian and Latin American countries have been forced to impose import restrictions in order to protect their foreign exchange reserves.