PV Exports: Exports of passenger vehicle industry in top gear, exports up 26 percent in June quarter
Passenger vehicle exports from the country grew by 26 per cent year-on-year to over 1.60 lakh units in the April-June quarter of the current fiscal. Passenger vehicle exports were affected in the same quarter of the last financial year due to the second wave of the Kovid-19 pandemic. According to data from vehicle manufacturers’ body SIAM, exports of passenger vehicles increased to 1,60,263 units in the April-June quarter. India’s vehicle exports stood at 1,27,083 units in the same quarter of the previous financial year 2021-22.
According to SIAM data, passenger car exports grew 88 per cent to 1,04,400 units during the quarter. At the same time, the export of utility vehicles during this period grew by 18 percent to 55,547 units. Van exports declined year-on-year to 316 units in the quarter under review. It stood at 588 units in the same period a year ago.
Rajesh Menon, Director General of SIAM, said, “In recent times, there has been an increase in the penetration of Indian-made passenger vehicles into Latin America and Africa as the economy of these regions has improved.” meet the needs of consumers. Companies operating in India are operating globally and the manufacturing is quality and cost competitive as well.
According to the data, the country’s leading car maker Maruti Suzuki India’s passenger vehicle exports grew 53 per cent to 68,987 units during the quarter. Maruti’s exports stood at 45,056 units in the same period a year ago. Hyundai Motor India’s exports grew 15 per cent to 34,520 units and Kia India’s stood at 21,459 units. Nissan Motor India’s exports stood at 11,419 units and Volkswagen’s 7,146 units.
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