Categories: Business

Passenger car export in q1 hit by pandemic

Photo: GOOGLE

Passenger car export dip in q1

new Delhi. Exports of passenger vehicles from India fell by 75 percent in the first quarter of the current financial year due to reduced demand worldwide due to corona virus epidemic disruptions. According to data from Society of Indian Automobile Manufacturers (SIAM), an association of automobile manufacturers, total passenger vehicle exports fell to 43,748 units in the April-June quarter from 1,73,054 units in the year-ago period. Passenger car exports fell by 76.58 percent to 31,896 units as compared to 1,36,204 units in the April-June period of 2019-20. Similarly, utility vehicle exports declined by 67.56 percent to 11,813 units in the quarter. A year ago it was 36,418 units. Similarly, only 39 vans were exported in the first quarter, which is 90.97 percent less than the 432 vans of the year before.

"The 75 percent decline in passenger vehicle exports in the first quarter of FY 2020-21 is due to disruptions related to Kovid-19 globally," SIAM Director General Rajesh Menon told PTI. The epidemic has led to the closure of plants and dealerships, supply chain disruptions, curfew in cities and international trade. "Passenger vehicles from India are exported mainly to countries in Latin America, Africa, Europe and Asia is. Among vehicle manufacturers, Hyundai Motor India exported the maximum 12,688 units in April-June. However, the company's exports were down 74.73 percent compared to the same period in the previous financial year. It was followed by Maruti Suzuki India, which exported 9,410 vehicles during the first quarter. It was 65 per cent lower than the year before. Kia Motors exported 5,395 units, while Ford India exported 5,209 units, down 84.53 percent from the first quarter of the previous financial year. Similarly, Volkswagen India exported 4,154 units, down 77.56 percent from the same period a year ago. General Motors' exports fell 84.06 percent in the first quarter to 3,186 units. Nissan Motor India's exports fell by 80.92 percent to 2,127 units. Mahindra & Mahindra's exports stood at 896 units as compared to the same period a year ago, down 79.73 percent year-on-year. FCA India exported 475 units while Honda Cars exported 142 units. In addition, Tata Motors exported 15 units and Renault India exported 24 units. Isuzu Motors exported 11 units during the first quarter.

This post was published on July 26, 2020 9:49 pm

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