Auto exports jump 42% in July; bikes soar 46%
Automobile exports from India increased by 41.81 per cent in July to 1,98,368 units, mainly riding on the back of the motorcycle segment.autos Updated: Aug 09, 2010 19:25 IST
Automobile exports from India increased by 41.81 per cent in July to 1,98,368 units, mainly riding on the back of the motorcycle segment.
According to the Society of Indian Automobile Manufacturers (SIAM), overall auto exports in July, 2009, stood at 1,39,887 units.
During the month, motorcycle exports rose substantially. Most of Indian two-wheeler makers' overseas sales came from neighbouring countries.
Total bike exports increased by 45.55 per cent to 1,30,148 units in July from 89,420 units in the same month of 2009, SIAM said.
Bajaj Auto exported 87,643 units in July this year as against 59,002 units in the same month last year, translating into a growth of 48.54 per cent, SIAM said.
Domestic market leader Hero Honda exported 11,827 units, registering a growth of 75.65 per cent over the year-ago period's overseas sales of 6,772 units.
Chennai-based TVS Motor Company also sold 54.87 per cent more motorcycles in overseas markets in July, 2010, at 17,163 units, as against 11,082 units in the same month last year.
However, exports of passenger cars from India slowed down and witnessed just a 2.12 per cent increase to 34,219 units compared to 33,506 units in the year-ago period, mainly due to slackening demand from Europe.
The country's largest exporter Hyundai Motor India's overseas sales in July declined by 3.36 per cent to 21,600 units from 22,350 units in the corresponding month last year.
Domestic market leader Maruti Suzuki's exports remained flat at 10,595 units in July as against 10,432 units in the same month of 2009.
For Indian car exporters, the European nations are major destinations.
The country's cars exports had registered a robust growth of 33.23 per cent in 2009-10, at a time when many major global auto markets witnessed a decline.
The growth was fuelled by a scrappage scheme that was given by many European nations during the 2009-10 fiscal to boost small car sales. Under the scheme, various governments had offered incentives to buy new cars in exchange of old ones.
However, the funds under that scheme were eventually exhausted and the demand for small cars started to weaken.