Car shipments shifting back to pre-Covid gear; Maruti, Hyundai at the top
Hyundai Creta, Maruti Suzuki Grand Vitara, Kia Seltos and Mahindra XUV700 from customers in Australia, Latin America and Southeast Asia.
According to industry estimates, Indian carmakers are set to ship more than 675,000 vehicles in the fiscal year that ends March 31, recovering from a low of 404,000 reported in the aftermath of the pandemic in FY21. Around 663,000 cars were exported from the country in the last financial year.
Vehicle exports were dominated by Maruti Suzuki and Hyundai, which together accounted for two-thirds of all cars shipped out of the country.
Homegrown auto makers like Tata Motors and Mahindra & Mahindra had a modest share of 0.4% and 2%, respectively, as per industry data.
Kia, Volkswagen and Nissan feature among the top five carmakers exporting from India with a share of 9%, 7% and 6%, in that order.
While Tata Motors and Mahindra & Mahindra have over the years attempted to step up exports, the lack of a relevant product portfolio high on quality and features has limited sales overseas, experts said.
Improved portfolio
«Indian companies like Tata Motors and Mahindra & Mahindra (M&M) have been trying to scale up exports for many years now,» said VG Ramakrishnan, managing partner at consultancy firm Avanteum Advisors. «However, they did not have the right products for international markets, where customers are very discerning about quality, specifications, brand commitments. Even in a market like Sri Lanka, where a lot of used cars are sold, buyers look for right-hand drive models from
