The domestic auto market in India has been increasing at a rapid pace for some time now, with even the sliding exports showing a marked recovery. It was recently reported that the overall auto exports in India increased by 29.62% in India, selling 2,61,234 units according to figures released by the SIAM.
According to reports, auto companies exported around 2,01,543 vehicles in the same period last year. The strong export sales are a sharp contrast to the domestic sales growth in India, which slowed by 22.80% in April from the total 2 6.17% increase in sales for FY11.
The exports of motorcycles reportedly rose by 33.17%, selling 1,69,575 units in comparision to the 1,27,336 units sold in the same period a year ago. The export sales in the motorcycles segment was led by Bajaj Auto, which witnessed a jump of 43.32% in sales, selling around 1,26,264 models. Meanwhile, TVS Motors exported around 10,769 motorcycle models last month, an increase of around 16.34%.
On the contrary, however the exports of passenger car models did not fair as well. The exports were up by only 12.26%, selling 42,075 models in comparision to the 37,479 models in sold in the same period last year. The exports of passenger cars have been on the decline for some time now. The largest car exporter in India, Hyundia Motor India reportedly saw its overseas sales decline by 13.17% exporting only 20,422 models.
The overseas exports of Maruti Suzuki fell by 24.10% last month, with around 9,431 units shipped, however the company had not begun exporting its vehicles in April last year. Ford India was the biggest gainer, exporting 1,167 units which is a seven fold increase for the company.
Tata Motors also witnessed a two fold rise in export figures, selling 1,041 units last April. The commercial vehicle segment in India also saw an increase in export figures, selling 5,246 units a growth of 36.01% last April, in comparision to the 3,857 units sold in the same period last year.