Auto Exports

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The country's largest carmaker Maruti Suzuki India (MSI) on Saturday said it has achieved the milestone of 20 lakh cumulative exports. The auto major achieved the milestone as a batch of products comprising S-Presso, Swift and Vitara Brezza left for South Africa from the Mundra Port in Gujarat. "The company has been exporting vehicles for past 34 years much before India became a prominent player in the global automobile business.This early global exposure helped the company enhance its quality and attain global benchmarks," MSI MD and CEO Kenichi Ayukawa said in a statement. The automaker currently exports 14 models comprising nearly 150 variants, to over 100 countries, he noted. "Vehicles manufactured at our facilities in India have found high acceptance owing to global standards of quality, safety, design and technology," Ayukawa said. Going forward, the company has aligned itself with the evolving needs of customers in African and Latin American nations, he noted. "With a flur

Exports and a focus on domestic market offer major potential opportunity areas for Indian auto industry but the sector needs a road map for localisation, according to a report by consultancy firm EY

Top official at various auto component firms said exports, which anyways have been intrinsic to the overall strategy, will increase at a rapid pace over the next two to five years

Profits of Bharat Forge, Bajaj Auto and Balkrishna Industries will also be hit

A Performance Linked Incentive (PLI) scheme for export promotion is needed to generate demand, said Kenichi Ayukawa, MD & CEO, Maruti Suzuki India and SIAM President.

The policy is expected to encourage customers to go in for new purchases which will be backed-up by government incentives in lieu of their old vehicles

In April-May period of the ongoing financial year, the exports dropped by 83 per cent to $281.1 million from $1,632.7 million in the year ago period, it said

Tata Motors surged over 19 per cent, while Bharat Forge and Motherson Sumi gained over 9 per cent each

Hero's domestic sales dropped by 20 per cent to 480,196 in February 2020 from 600,616 a year ago. Exports rose to 18,046 units from 16,599 units during the same period

Industry representatives have said the situation is unlikely to improve soon as India's economic activity is yet to pick up due to less business activity and consumer spending

The company had sold 56,005 units in the same month last year, M&M said in a statement

Exports in the passenger vehicles (PV) segment grew 6% y-o-y, bolstered by higher despatches to Gulf countries, Latin America and South Africa

Two-wheeler exports rise 4% in April-Sep; Bajaj Auto leads the pack

The trend is increasingly visible among global brands