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Car exports rise 28% in FY05
By agencies
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Monday, 18 April 2005, 19:30 IST
NEW DELHI:Driven by Hyundai Motors, export of passenger cars from India jumped 28 percent to 1,60,677 units in the financial year ending March 31, 2005.
The growth comes even as market leader Maruti Udyog and the country's second-biggest carmaker Tata Motors saw a decline in their numbers.
Hyundai India, which has already been earmarked by its South Korean parent as a hub for small cars, saw foreign shipments rise a whopping 94 percent to 82,093 units against 42,113 units exported in 2003-04, according to figures released by Society of Indian Automobile Manufacturers (SIAM).
However, the numbers for Maruti fell by 5.1 percent to 47,646 units in 2004-05 from 50,248 units in the previous year. For Tata Motors, the fall was 8.7 percent to 8,116 units (8,897).
Ford India also saw numbers decline in 2004-05 as exports stood at 22,625 units from 24,000 units in the previous year.
Overall, automobile exports from India jumped 31.2 percent to 6,29,887 units against 4,79,919 units in 2003-04, SIAM said.
Apart from passenger cars, motorcycles and commercial vehicles contributed to the exports even as three-wheeler numbers saw a marginal 1.9 percent drop with exports standing at 66,801 units.
Bajaj Auto and Hero Honda fueled the growth in motorcycles. Bajaj's numbers grew 49.6 percent to 1,23,950 units while for Hero Honda it was a 63 percent rise to 64,015 units.