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SIAM: Car sales skid at home, but skyrocket overseas

According to the data compiled by Society of Indian Automobile Manufacturers (SIAM), car exports have been on a higher trajectory at 56 per cent during the first half of fiscal year 2008-09, even though its sales in the domestic market were only 5.3 per cent during the same period. The total car exports during the aforesaid period were 1.54 lakh units, vis-à-vis 99,266 units exported during the last fiscal, as revealed by SIAM. The numero uno exporter is Hyundai Motor India, followed by Maruti Suzuki India Limited (MSIL).

It has been learnt from SIAM that nearly 1.2 lakh units of various models were exported by HMIL during April-September'08 to over 90 countries, with i10 accountable for a huge pie of the overall units sold.During the first half of this fiscal, MSIL's exports have jumped by 25 per cent to 29,698 units, as compared to 23,750 units in the same period last year.

According to SIAM, the Indian two-wheeler industry also witnessed robust growth during April-September'08, due to the burgeoning demand for motorcycles in the overseas markets. Even though the domestic industry posted a 12.5 per cent growth in motorcycles, the export market saw a whopping 31.2 growth. Nearly, 5.02 lakh motorcycle units were exported during the first half of this fiscal as against 3.82 lakh units last year.

While Bajaj Auto delivered 3.39 lakh units (as compared 2.41 lakh units last year) in the overseas markets, TVS exported 82,996 units (50,542 units last year) and Hero Honda sold 40,976 units (41,070 units last year) abroad.

The Indian automobile industry per se, saw its exports surging by 27 per cent in April-September 2008 at 7.74 lakh units, as compared to 6.07 lakh units in the same period last financial year.

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Editorial Desk       Posted on 10/20/2008 7:56:36 AM
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