India’s passenger vehicle exports rose by 26 per cent in April-June 2022 aided by enhanced shipments to Latin America and Africa and a low base of the year-ago quarter that was hit by the second wave of Covid-19.
As per the latest data released by the Society of Indian Automobile Manufacturers (SIAM), passenger vehicle shipments rose to 1,60,263 units in the April-June period of this fiscal as compared with 1,27,083 units in the same quarter of 2021-22.
Passenger car shipments saw an 88 per cent year-on-year growth at 1,04,400 units while utility vehicle exports rose 18 per cent to 55,547 units during the period under review, SIAM data showed.
Export of vans declined to 316 units in April-June as compared with 588 units in the same period of the last fiscal.
“In the recent past, there has been a higher penetration of India manufactured passenger vehicles in Latin America and Africa as the economies of these regions improve,” SIAM Director General Rajesh Menon told PTI.
Indian manufactured vehicles meet the consumer requirement of these regions as the brands are global, have good build quality and are cost competitive, he added.
“Effect of trade agreement with Chile couple of years ago, has also recently helped in improving the competitiveness of India manufactured passenger vehicles,” Menon noted.
Domestic car leader Maruti Suzuki India (MSI) led the exports during the first quarter, followed by Hyundai Motor India and Kia India at the second and third positions, respectively.
