/Auto companies hit Corona, passenger vehicle exports down 58 percent this year

Auto companies hit Corona, passenger vehicle exports down 58 percent this year

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car export- India TV Paisa
Photo: AP car export

New Delhi. The country’s passenger vehicle exports declined by 57.52 per cent during the first half of April-September of the current financial year. The bottlenecks caused by the Kovid-19 epidemic have affected the supply of passenger vehicles to various global markets, leading to a decline in exports. According to data from Society of Indian Automobile Manufacturers (SIAM), an association of vehicle manufacturers, passenger vehicle exports stood at 1,55,156 units in the first half of 2020-21. As a result, 3,65,247 passenger vehicles were exported in the same half of the previous financial year.

Exports of cars declined by 64.93 percent to 1,00,529 units in the period under review, from 2,86,618 units in the same period last fiscal. Similarly, utility vehicle exports declined by 29.67 percent to 54,375 units from 77,309 units in the same period of 2019-20. Van exports were down drastically by 80.91 per cent to 252 units from 1,320 units.

SIAM Director General Rajesh Menon said, “The main reason for the decline in exports is the bottlenecks caused by Kovid-19 globally. The plant and dealerships remained closed due to the epidemic, affecting the supply chain. The international trade has been badly affected by the epidemic. ”He said that now exports have improved after the lockdown was relaxed globally. Exports are expected to be better in the second half of the current financial year. Exports of passenger vehicles declined 41.96 percent to 1,11,555 units in the second quarter of the current fiscal from 1,92,193 units in the same period of the previous fiscal. Exports of almost all passenger vehicle companies declined in the first half of the current financial year 2020-21. Hyundai Motor India’s exports fell 68.98 percent to 32,041 units in the first half.

Maruti Suzuki India exports were down by 40.02 percent to 31,549 units. Ford India exports declined by 63.69 percent to 26,089 units. However, exports of Kiya Motors increased by 3,425.69 percent in the first half and reached 16,606 units. At the same time, General Motors India’s exports fell by 58.52 percent to 16,630 units. Similarly, Volkswagen India’s exports fell by 59.13 per cent to 15,492 units.

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