Q1 FY 2019 has seen a marked slowdown in exports of both cars and SUV in India. The most exported model was the Chevrolet Beat, with Ford EcoSport in second position. A total of 20,543 units of the Chevrolet Beat were exported during the April to June 2018 period as against 21,269 units exported in the same period of the previous year.
Exports of Ford EcoSport during Q1 FY 2019 stood at 20,511 units, a dip of 15% as compared to 24,107 units exported in the same period of the previous year when the Ford EcoSport was in a No.1 position on the list of leading exports.
In third spot, exports of Volkswagen Vento also dipped 18% in FY Q1 2019 from 21,977 units exported in April to June 2017 to 17,992 units exported in the past quarter. Exports of Hyundai Grand i10, at No. 4 on the list, surged 60% in the April to June 2018 period from 9,563 units exported in Q1 FY 2018 to 15,303 units in the last quarter.
Like Hyundai Grand i10, Nissan Sunny, at No.8, too was a new entrant on the list of top 10 cars and SUVs exported in Q1 FY2018. Exports of this model increased 10% from 5,702 units in the first quarter of FY2018 to 6,293 units in the past quarter.
In a fifth spot, exports of the Ford Figo decreased by 27% in FY Q1 2019 to 11,995 units as compared to 16,413 units exported in the same period of the previous year. Hyundai Creta, at No. 6 was also among the models that noted a dip in exports. The company exported 8,672 units of the Hyundai Creta in the past quarter as compared to 12,569 units exported in the same quarter of the previous year, a dip of 31%.
Maruti Suzuki Baleno, at No. 7 saw a jump from 9th position in the last year despite a 1% decline in exports. 8,187 units of the Baleno were exported in FY Q1 2018 as compared to 8,069 units in the past quarter.
Maruti Suzuki noted a 16% dip in exports of the Ignis with 5,231 units exported while at a No. 10 spot was the Hyundai Xcent with an 11% dip in exports to 5,173 units from 5,806 units exported in the same period of the previous year.
Though there is no real reason for this marked dip in exports, it could be that major exporters of passenger vehicles have prioritized the domestic markets over exports while they are yet contending with the GST refund issue with the auto industry having around INR 1,000 crores pending refund.