20 December 2004
Car exports spurt 43% in April-November
HT Correspondent New Delhi,
THE INDIAN automobile has come of age and the made in India tag is finding increasing global acceptance. The trend is reflected in the rising exports of Indian automobiles, especially the passenger vehicles.
An interesting feature of the passenger car exports is that it is growing at a quicker pace than the growth of the domestic industry. In the eight months of the current fiscal (April November 2004), 107,210 vehicles were exported, a jump of 42.67 per cent compared to 75,148 units in the corresponding period last year.
Of the 1.07 lakh units exported, 1,03,973 were cars, 2,464 units were utility vehicles and the remaining were multi-purpose vehicles, according to the latest data released by Soci ety of Indian Automobile Manufacturers.
Leading the Indian corporates in making significant presence in the global market place is Hyundai Motor India. HMIL exported 54,605 cars in the eight months of the current fiscal, a significant jump from 22,207 units in the same period last year. The other significant contributor was the domestic market leader Maruti, which sold 30,468 cars between April and November this year. Ford India sold 16,155 units overseas in the eight months.
Similar trend was visible in other segments of the automobile sector. The medium and heavy commercial vehicles segment exports grew by 75 per cent with sale of 7,584 units compared to 4,332 units in the corresponding period last year. Light commercial vehicles segment witnessed exports of 16,760 units, a rise of 75.42 per '
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