Due to the slowdown from Europe Indian car exports saw a fall of over three percent to 36,874 units in June.
The car export in June 2009 was at 38,113 units according to the Society of Indian automobile Manufacturers (SIAM).
Pawan Goenka, the SIAM president has said “The decline in exports is primarily due to the slowing down of demand from Europe, but in other markets of the world it is picking up”.
Hyundai Motor India which is India’s largest exporter has seen decrease of exports in June from 24,251 units last year to 18,888 units this year, a decline of 22.11 per cent.
However, Maruti Suzuki who is the India’s market leader has witnesses an increase in exports from 13,247 units last year June to 15,006 units this year, with an increase of 13.28 per cent.
The European countries are a major destination for Indian car exporters.
Export of the passenger vehicles which includes cars has grown by 11.2 per cent during the first quarter of the current fiscal which Pawan Goneka has said “is the lowest in the past eight quarters”.
A robust growth of 33.23 per cent was what was registered when major auto markets were witnessing decreased sales in the last fiscal.
During the last fiscal the growth was fueled by the scheme given by many European nations, which was the scrappage scheme, this helped boost the small car sales. The government had offered incentives to buy new cars in exchange of old ones under this scheme.
Eventually the demand for small cars saw a decline as the finds under this scheme was exhausted.
June however, witnessed a rise in the two wheeler sales. The neighboring countries contribute to most of the country’s two wheeler overseas sales.
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