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India's car exports decline by 3.71 per cent in April-February period

Car exports from India fell by 3.71 per cent during April-February of the current fiscal to 4.84 lakh units as compared to the same period in the previous fiscal, according to the Society of Indian Automobile Manufacturers (SIAM).

The decline was mainly because of changes in technical regulations in Algeria and high taxes in Sri Lanka. Hyundai Motors, the country’s largest exporter, shipped 1.35 lakh units in the April-February period, a more than 25 per cent decline over the corresponding period in the previous fiscal.

Maruti Suzuki exported 1.04 lakh units, slightly more than in the previous fiscal. Other major exporters included Nissan (1.01 lakh cars as against 1.08 lakh units in the corresponding period) and Volkswagen (68,224 units, as against 60,706 units).

But in terms of overall exports of passenger vehicles – including cars, utility vehicles and vans – total shipments were up by 3.14 per cent to 5.91 lakh units.