NEWS

Hyundai's exports from India tumbles down to fourth place in May 2017

Monday, Jun 12, 2017

Hyundai Motor India's synonym as India's largest passenger vehicle exporter seems to be fading away as Ford India overtook Hyundai in exports for the fourth consecutive month.

As per numbers released by SIAM, the Indian-arm of the Korean car maker exported a total of 8,257 units in the month of May registering a decline of 30%. The company had exported a total of 11,805 units in May 2016.

Ford India, Volkswagen India and even General Motors exports surpassed to that of Hyundai's exports last month by exporting 16,761, 10,477 and 8,297 units respectively.

In April 2017, Ford India exported a total of 17,531 units exporting more than Hyundai Motor India to be the country's largest exporter for the month of April. Hyundai had exported 11,610 units from its Chennai plant. Same was the case in March 2017 when Ford India exported more than its Korean rival.

While Hyundai Motor India's production in the month of May 2017 registered a YoY increase by 26.13% by manufacturing 52,216 units, Its production dipped by 8.3% from the month before (April 2017). The company manufactured 56,967 units in April 2017.

Country's largest car-maker Maruti Suzuki's exports too declined by 37.17% as the it exported a total of 6,175 units last month.

Nissan Motor India exported a total of 4,311 units declining by 36.88%.

Earlier, the Ex-President of Nissan Motor India, Guillaume Sicard had said, "We have to may be calculate the weight of export as compared to domestic market. It will fluctuate depending on the life cycles of the cars. This year exports will decline slightly because of the Micra, but year after it will really pick up as we will be on the high export programme. We have capacity in the plant close to 500,000 units."

"There is always possibility to do more, we can invest more if required. For me to keeping 1/3rd of production for exports from India is the safe side of the strategy." Sicard is now the Vice President, Sales & Marketing at Renault Asia Pacific Region." he added.

Overall, the Indian Passenger Vehicle Industry exported a total of 64,707 units last month as against 51,523 units in May 2016 registering a growth of 25.59%.

 

Source:auto.economictimes.indiatimes.com