Maruti Suzuki India Limited (MSIL) has registered a 15% drop in exports during the past year. The company currently exports to 100+ countries and plans on adding new models for export are in the offing. Apart from this, Maruti will also focus on entering newer markets, so as to regain increase exports. Hyundai Motors India Limited HMIL) have similar plans in store so as to retain their No.1 position.
MSIL that currently exports to countries such as Angola, Mozambique, Benin, Panama, Uruguay and Colombia besides Britain, Algeria, Chile and Indonesia saw total exports during FY14 stand at 101,352 units. This was down from 120,388 units in FY13 due to which the company lost its No.2 position to Nissan India. Maruti’s top export markets for last fiscal were Britain – 14,700 units, Algeria – 13,400 units, Chile – 9,000 units, Indonesia – 5,200 units and Peru – 4,700 units.
The company’s most favoured export variants were A Star of which 45,193 units were exported, Alto 800 with 13,624 units exported and DZire and Swift of which 13,288 and 11,579 units were exported respectively. To ensure better export figures in 2014-15, the company is strengthening their product range to include left hand drive variants of DZire, Swift and Ertiga.
Hyundai India also reported lower than expected exports, down 10.2% from 259,811 units exported in FY13 to 233,260 units exported in FY14 and is also planning to tap new and developing markets to extend exports significantly. They will soon start exporting their newly launched Xcent sedan, which was launched in India earlier this year.
Further read – Maruti Suzuki sales up 33%, while Hyundai sales dip 7.6%