India’s Passenger car exports fell by 7.21% in August, as car manufacturers chose to concentrate on healthy local market, while the international markets have not yet seen the rise in demand, SIAM said.
As per the numbers released by the Society of Indian Automobile Manufacturers, in August, the car exports were just 37,952 units, as compared to 40,901 units for the same month previous year.
Vishnu Mathur, SIAM director general said, “The decline in export is understandable, as companies have decided to focus on meeting the domestic demand”.
Local car sales rose 33.24% to 1,60,794 units in August, as compared to 1,20,681 units for the same month previous year.
Mathur also said, “Moreover, the export markets are still not yet buoyant”.
The dip in overseas of car was due to the largest exporter of India, Hyundai Motor India posting a fall of 12.28% in August at 22,035 units, as compared to 25,120 units last year same month.
Maruti Suzuki India also saw its exports decline by 18.4% at 11,972 units from 14,672 units in August previous year, SIAM said.