Passenger vehicles export from India dips 7.37% in Q1

New Delhi:Passenger vehicle exports declined 7.37 per cent in the first quarter of 2018-19 as various leading exporters focussed on domestic market while issues at some key markets abroad curtailed overseas shipments.
As per the latest SIAM data, PV exports declined to 1,67,161 units in the April-June period as compared with 1,80,464 units in the same quarter of 2017-18.
Barring Hyundai Motor India, all other major PV exporters saw their overseas shipments dwindle during the first quarter.
Hyundai exported 39,425 units during the first quarter, up 18.9 per cent from the same period of the previous fiscal. The company has been balancing production at its Chennai plant to meet requirements of both domestic and export markets.
On the other hand, Ford India exported 35,358 units during the period under review, down 27.67 per cent from April-June, 2017-18.
“Exports during the quarter were affected due to preparation for the launch of new model, Freestyle,” a Ford India official said, adding the company’s production was also focussed more on catering for the Indian market.
Similarly, Maruti Suzuki saw a marginal drop in its PV exports at 25,724 units during the first quarter.
Other big exporter, Volkswagen India, despatched 21,388 units during the period, down 19.52 per cent from April-June period of 2017-18. The company is a major exporter to Mexico, where there has been a slowdown.
Similarly, General Motors India exported 20,543 units in the first quarter, down 3.41 per cent from same period a year ago. The company no longer sells its products in India but exports vehicles produced from its Indian plant to Mexico and central and south American markets.
Nissan Motor India also saw PV exports plunge by 28.73 per cent in the April-June period. Renault India, however, saw exports increase by 23.85 per cent to 3,942 units in the reported quarter.