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Automobile exports jumps 33% in Apr-Oct period
By agencies
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Monday, 21 November 2005, 20:30 IST
NEW DELHI: Automobile exports from India moved up by 33 percent in the previous seven months of the current financial year, boosted by healthy demand for two-wheelers and commercial vehicles.
Auto exports in the April-October 2005 period stood at 4,71,511 units, up by 33.4 percent from 3,53,212 units during the same period of the previous financial year, according to the figures released by Society of Indian Automobile Manufacturers (SIAM).
The growth was fuelled by 51 percent increase in demand for motorcycles, the biggest contributor to export numbers. Till October, bike exports from the country stood at 2,18,473 units in 2005-06, as against 1,44,192 units during the same period a year ago. As many as eight of the nine manufacturers, including segment leaders Bajaj Auto and Hero Honda, experiencing higher demand.
Led by Honda Motorcycle and Scooter India, scooter/ scooterette exports grew 42.1 percent to 54,119 units from 38,077 units exported in April-October 2004. Closely following the two-wheeler segment were commercial vehicles where foreign shipments grew 48.6 percent to 21,635 units (14,557 units in April-October 2004). Goods carriers in the Light Commercial Vehicle (LCV) segment led the charge in this segment at a growth of 91.9 percent at 13,229 units.
On the car side, a 32 percent decline in Maruti's numbers and 36 percent in that of Ford India pulled down overall growth momentum. Car exports in the April-October 2005 period recorded a modest 8.4 percent increase at 1,00,761 units (92,873), Hyundai India and Tata Motors fuelling the growth.
Hyundai, whose South Korean parent has made the Indian subsidiary manufacturing hub for small cars, saw a near 30 percent increase in shipments at 60,659 units (46,943 units). On the other hand, Tata Motors saw a massive 454 percent increase in numbers with exports standing at 11,081 units against 1,999 units in the seven months of the last financial year.