Car exports posted YoY and MoM growth in March 2023 with the Nissan Sunny commanding the most attention in global markets
Car exports from India in March 2023 improved by 12.66 percent YoY to 69,026 units, up from 61,270 units shipped in March 2022. This was a volume growth of 7,756 units. It was also a MoM growth in exports from 46,486 units exported in Feb 2023. Primary reason for this surge in global demand for passenger vehicles could be on account of the Foreign Trade Policy (2015-20) which has been extended upto 31 March 2023. The Center has also extended the Interest Equalization Scheme on pre- and post-shipment rupee export credit to 31 March 2024.
Nissan Sunny topped the export list in March 2023 for the second consecutive month. The Sunny sedan was also at No. 1 in Feb 2023, climbing up from a No. 4 position held in Jan 2023. Sunny exports stood at 5,451 units in March 2023, up 27.63 percent over 4,280 units sold in March 2022. This was a 1,171 unit volume difference with the Sunny commanding a 7.90 percent share on this list.
Top 20 Car Exports March 2023
At No. 2 was the Maruti DZire with 4,689 units shipped in March 2023, down 28.72 percent from 6,578 units exported in March 2022. The DZire currently commands a 6.79 percent share in the export list jumping 5 places from its No. 7 spot held in Feb 2023 when exports had stood at 2,352 units relating to a significant MoM growth. Maruti Suzuki Grand Vitara exports were at 4,625 units in March 2023. The Grand Vitara commenced exports from Jan 2023 with the first lot of this premium SUV making its way to Latin America from Kamarajar port, Chennai.
Three of Maruti Suzuki models – Baleno, SPresso and Swift featured on the export list in quick succession. Baleno exports were at 4,493 units in the past month, up 408.26 percent from just 884 units shipped in March 2022. S-Presso also saw a 35.05 percent YoY growth to 4,119 units while Swift exports dipped 19.67 percent from 4,962 units exported in March 2022 to 3,986 units in the past month.
Hyundai Verna exports improved by 44.22 percent to 3,291 units in March 2023 from 2,282 units exported in March 2022. Kia Seltos exports however, dipped 2.06 percent to 3,232 units while next on the list was the Honda City with a 55.42 percent YoY growth to 2,998 units.
YoY exports improved for the Maruti Celerio (2,650 units), Renault Kiger (2,561 units), Kia Sonet (2,363 units) and Hyundai Aura (2,311 units). It was also the Hyundai Creta which saw improved exports to 1,902 units last month. Hyundai has added new safety features to the Creta, Venue and i20 which could related to increased exports in the months ahead.
VW Virtus exports were at 1,771 units last month. The 2022 VW Virtus was launched in June last year and is the company’s second product under the India 2.0 Project. Other passenger vehicles to see exports above the 1,500 unit mark were the Magnite (1,738 units), Hyryder (1,659 units), Alto (1,651 units) and Triber (1,507 units), each of which posted a YoY growth. Among the sub-1,500 unit exports were the Ertiga (1,498 units), Taigun (1,458 units), Grand i10 (1,447 units), Kwid (1,417 units), Alcazar (1,175 units) and Eeco (1,074 units).
Car Exports – Sub 1,000 units March 2023
Passenger vehicle exports under 1,000 units saw the Carens with 607 units exported last month, up 731.51 percent over just 73 units exported in March 2022. There was also the Venue (498 units), Ciaz (383 units), Scorpio (343 units), Hyundai i20 (276 units) and Kushaq (267 units). Jeep Compass exports dipped 10.57 percent to 220 units last month while there were 204 units of the new Citroen C3 shipped in March 2023.
YoY exports dipped for the XUV300 (193 units), KUV100 (182 units), XUV700 (179 units) and Amaze (122 units) in March 2023. The list also included Meridian (108 units), Kicks (70 units), WR-V (69 units) and Ignis (53 units). In the sub-100 unit export list was also the Brezza with 52 units shipped last month relating to a 96.97 percent Yoy de-growth over 1,715 units exported in March 2022. Exports of XL6 (50 units), Maxximo (50 units), Bolero (16 units) MG Astor (12 units) and Jimny (6 units) were lower down the order on this list.