July 26, 2020: Passenger vehicle exports from India fell 75% in the first quarter of the current fiscal as demand plunged due to coronavirus pandemic related disruptions across the globe. Total passenger vehicle exports declined to 43,748 units in April-June quarter as compared with 1,73,054 units in the year-ago period, according to Society of Indian Automobile Manufacturers’ data. Car exports dipped 76.58% to 31,896 units as against 1,36,204 units in April-June period of 2019-20. Similarly, overseas shipments of utility vehicles declined 67.56% to 11,813 units in the period under review as compared with 36,418 units a year ago. Van exports stood at just 39 units during April-June period, down 90.97% from 432 units in the first quarter of last fiscal.
“The 75% fall in exports of passenger vehicles in the first quarter of FY21 is due to the Covid-19 related disruptions globally, which has led to closure of plants and dealerships, supply chain disruptions, curfews in cities and interruptions in international trade,” SIAM Director General Rajesh Menon told PTI. However, improvement is already visible in exports, and shipments should see a rise in subsequent months he noted.
Passenger vehicles from India are mainly exported to countries in Latin America, Africa, Europe and Asia.
Among automakers, Hyundai Motor India led the segment with export of 12,688 units in April-June. However, the company’s exports were 74.73% lower as compared with the same period of last fiscal. It was followed by Maruti Suzuki India, which exported 9,410 units during the first quarter. The auto major’s shipments were down 65% in April-June year-on-year. Kia Motors exported 5,395 units, while Ford India exported 5,209 units, down 84.53% from first quarter of last fiscal. Similarly, Volkswagen India saw its overseas shipments go down by 77.56% to 4,154 units as against the same period a year ago.
General Motors saw 84.06% dip in exports in first quarter at 3,186 units, while Nissan motor India witnessed 80.92% decline at 2,127 units.
Mahindra & Mahindra’s exports stood at 896 units, 79.73% lower from the same period a year ago.
FCA India managed to ship 475 units, while Honda Cars exported 142 units during the first quarter. Besides, Tata Motors exported 15 units, while Renault India shipped 24 units. Isuzu Motors managed shipment of 11 units during the first quarter.
Source: Bloomberg Quint
