In India, the overall shipment of automobiles has gone down by 21% as compared to last year.
Passenger vehicle shipments increase by 5-6% to reach 6,77,956 units
Two-wheeler exports slipped by -20% three-wheeler exports were down by 30%.
India’s motorcar exports decreased by 21 percent during the last year because of several financial and geopolitical crises in many international markets, as shown by fresh data made available through Statista. Last year, total exports were 42,85. While there was still a general downward trend, passenger vehicle shipments grew by 5% to reach 677956 units.
Two-wheelers and three-wheeled vehicles as well as commercial trailers, on the other hand, experienced a decline in exports. The data showed that two-wheeler exports decreased by 20% to…
The increase in passenger vehicle shipments was because of a more streamlined supply chain than the preceding year. But foreign exchange availability constraints in areas where two and three-wheelers are offered kept the demand subdued.
The largest passenger car exporter for the April-December fiscal period was Maruti Suzuki India which exported 2,02,786 units; a rise of only off & percent from last year. For the third quarter of this fiscal, Hyundai Motor India shipped 1,2975 units up from 1.
Kia India recorded 47,792 units sold during the April-December financial year followed by Volkswagen’s figures at 33,872 Units Nissan exported 31,658 units while Honda Cars pulled in 20. While speaking about export trends, SIAM Director General Rajesh Menon said that the passenger vehicle exports can be attributed to vehicle launches and pent-up demand in markets like South Africa or Gulf region.
The growth may also be a result of the improvement in the supply chain as compared to 2019, where there were disruptions on both sides including semiconductors. But as far as the areas in which two and three-wheelers are sold, availability of foreign exchange remains a constant challenge that has continued to keep demand muted,” he concluded.