India 2015 Automobile Export (PC+UV) : Up 2.7 Percent to 730,000 units (1/2)
- India's automobile (PC+UV) export volume increased 2.7 percent compared to 2014 to 729,000 units in 2015. While two major exporters Hyundai Motor and Nissan Motor declined, commercial vehicle exports by Tata Motors and Mahindra & Mahindra went up. EU and US carmakers increased exports to Central and South America, overall volume reaching an historic high. While Ford Motor, VW and GM's combined exports did not even reach 10,000 units in 2010, total exports of the three carmakers reached some 190,000 units in 2015. Brisk exports to Mexico, a major export destination of the three companies, are expected to continue. Total exports from India are forecasted to surpass 800,000 units in 2016.
- India's largest exporter Hyundai Motor declined 17.2 percent to 167,000 units. A portion of the production capacity, which was devoted to exports before, was shifted to meet strong domestic demand. As a result, export volume was reduced as planned at the beginning of 2015.Although plant operation rate reached 95 percent in 2015, capacity expansion plan has yet to be announced. Export volume is planned to be reduced to 150,000-160,000 units in 2016 and exports are projected to decrease in the medium term as well.
- Maruti Suzuki increased 6.7 percent to 126,000 units, although exports were negatively impacted by the introduction of stricter safety standards in Algeria, a major export destination of the company. In Sri Lanka, l,000cc and smaller automobiles enjoyed a tax break between October 2014 and November 2015. In response to lower tax rate, export volume of the Alto, Celerio and other Maruti Suzuki models increased tenfold to some 40,000 units in 2015.
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