Indian automobile exports fell by 5.5 p.c, demand decreased as a result of international turmoil – India TV Hindi

automobiles from the nation Exports have declined by 5.5 p.c within the final monetary 12 months 2023-24. This data has been obtained from the information of SIAM, the group of car producers. The Society of Indian Car Producers (SIAM) says that because of the financial disaster in lots of international markets, there was a decline in automobile exports from the nation. In response to the information, complete automobile exports within the final monetary 12 months stood at 45,00,492 models, whereas within the earlier monetary 12 months 2022-23 it was 47,61,299 models. SIAM Chairman Vinod Aggarwal mentioned that circumstances stay unstable in numerous international markets. He mentioned that some nations, the place we’re very sturdy when it comes to business automobile and two-wheeler exports, are going through international trade associated points.

Two-wheeler and three-wheeler exports additionally declined

Whereas there was a big decline in exports of economic automobiles, two-wheelers and three-wheelers within the final monetary 12 months, exports of passenger automobiles elevated marginally. He mentioned that some good enchancment has been seen within the January-March quarter this 12 months. Particularly within the two-wheeler phase. Aggarwal mentioned that now we have full hope that the state of affairs will enhance in future. Exports of passenger automobiles elevated by 1.4 p.c to six,72,105 models within the final monetary 12 months, from 6,62,703 models within the monetary 12 months 2022-23.

Maruti Suzuki exported 2,80,712 automobiles through the interval beneath assessment. Within the earlier monetary 12 months, Maruti’s exports had been 2,55,439 models. Hyundai Motor India exported 1,63,155 models within the final monetary 12 months. Within the earlier monetary 12 months, it had exported 1,53,019 automobiles. Kia Motors exported 52,105 automobiles through the 12 months, whereas Volkswagen India exported 44,180 models within the final fiscal.

Export of economic automobiles decreased by 16 p.c

Nissan Motor India and Honda Vehicles exported 42,989 and 37,589 models, respectively, in FY 2023-24. Two-wheeler exports declined by 5.3 p.c within the final monetary 12 months to 34,58,416 models. Within the earlier monetary 12 months, exports on this phase had been 36,52,122 models. Equally, exports of economic automobiles declined by 16 p.c to 65,816 models. Exports of economic automobiles in 2022-23 stood at 78,645 models. Exports of three-wheelers declined by 18 p.c to 2,99,977 models within the final monetary 12 months, in comparison with 3,65,549 models in 2022-23.

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