Indian Exports On The Rise: Hyundai, Ford Lead Charge

As the monthly sales of passenger vehicles shot up to a record high in September, the exports also registered promising, if not record-breaking, growth in the first half of the current fiscal year. The exports from the country’s auto industry grew by 15.38 per cent YoY on the back of bulky shipments from the likes of Hyundai, Ford and General Motors. 

In the April-to-September period, the industry exported 3,67,110 units of cars, according to SIAM. The figure stood at 3,18,188 units in the same period last year. Leading the line, as expected, was Hyundai, which exported 87,499 units in the last six months. However, it managed only a 2 per cent growth from last year since the company is intent on reducing waiting periods in India first.

The second-largest exporter in this period turned out to be Ford India, which shipped a total of 73,821 units – a remarkable 32.25 per cent growth from last year. It is worth mentioning that the American carmaker stood at a lowly number eight on the charts last month and has actually exported more than it sold in the country.

With a 7.87 per cent drop in exports, the country’s largest carmaker, Maruti Suzuki India Limited, stood third with 60,526 units shipped out during this period. On the other hand, other manufacturers like General Motors have been ramping up export operations from India. The company registered a remarkable 863.74 per cent climb in its exports, with 30,647 units.

Another noteworthy exporter in the first six months of the 2016-17 financial year was Volkswagen, with 43,114 units – up by 19.28 per cent. Just like Ford and General Motors, the German carmaker also shipped out more than it vended in India. At 23,329 units, its indigenous sales numbers were almost half of its exports.