HomeCar NewsCar Exports Decline By Almost 58 Percent In India - Hyundai Tops...

Car Exports Decline By Almost 58 Percent In India – Hyundai Tops List

Ford EcoSport continued to be the most exported car from India, followed by the new Kia Seltos

2020 Hyundai Car Exports
Hyundai Car Export

Needless to say but the Indian automotive industry has faced a tricky period in 2020 until now. With the economy already reeling with the effects of a slowdown, situation got worse since the outbreak of Covid-19 virus and the subsequent lockdown across the country was of no help to the industry.

However, things started to improve gradually when activities resumed under the UNLOCK phases. Although passenger vehicle sales have shown appreciable growth in the last couple of months, unfortunately, the same cannot be said about exports. In fact, passenger vehicle exports declined by a massive 57.52 percent in the current 2020-21 fiscal year.

As per the latest data from the Society of Indian Automobile Manufacturers (SIAM), passenger vehicle exports in the first half of 2020-21 stood at 1,55,156 units in comparison to 3,65,247 units during the same period in the previous 2019-20 fiscal year. This decline in exports can largely be attributed to disruptions caused to the supply chain of various manufacturers thanks to the ongoing Covid-19 crisis.

Hyundai Leading Exporter

Hyundai Motors India Ltd. (HMIL) has once again topped the charts of leading exporters of passenger vehicles in India in the first half of the current fiscal. With 9,600 units exported in September this year, it occupied the numero uno position of passenger vehicle exporters, even though it witnessed a 43.53 percent decline as compared to September 2019. Its cumulative exports stood at 32,041 during the first six months of the current fiscal.

Car exports FY2020
Source – SIAM

Maruti Suzuki, Ford Follow Up

Maruti Suzuki India followed in the second position as it displaced Ford India. At 7,747 units exported last month, Maruti Suzuki is one of the few brands to witness a positive growth of 8.47 percent during this period. Meanwhile, Ford India slipped one position to third as it registered 6,744 units exported last month and a total of 26,089 units exported during the period between April – September 2020.

General Motors, Kia Show Impressive Numbers

General Motors which has stopped retailing in the domestic market in India is still a prominent exporter and it off-shored 16,630 units in the first six month of the current fiscal. It added 4,990 units of exports last month itself. However, the biggest surprise was pulled off by Kia Motors India as it registered 5,214 units of exports last month which was a humongous growth of 1007 percent in comparison to September 2019.

EcoSport- Most Exported Car

Ford EcoSport continued to be the most exported car from India as it off-shored 21,414 units of the compact SUV in the first half of 2020-21. It was followed by Kia Seltos, which has already set the domestic market stage on fire since its introduction last year. The mid-size crossover registered 16,568 units exported to overseas markets during the same period.

Other notable contributors are Maruti Suzuki S-Presso and Hyundai Verna. S-Presso has been shipped to foreign markets since January 2020. The micro crossover has recorded 11,888 units of exports in the first half by far the most in its segment. The Verna received a facelift earlier this year and registered 11,660 exports during the first half of the current fiscal.

Future of Exports from India

Although decline in exports is visible clearly, month-on-month rate of decline is slowing which would be relieving news for manufacturers in India. The makers are currently focussed on catering to the heavy demands in the upcoming festive season.

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