Automobile exports up 34% in April

Automobile exports continued to cruise in top gear in April even as domestic volumes lost some steam due to a host of issues like VAT and ne...

Automobile exports continued to cruise in top gear in April even as domestic volumes lost some steam due to a host of issues like VAT and new safety and emission norms.

During the first month of this financial year, overall vehicle exports grew 34 per cent to 59,000 units as against 44,058 in April 2004, according to data released by the Society of Indian Automobile Manufacturers (Siam). This growth comes on the back of a 31 per cent increase in exports in the just concluded fiscal, over the previous financial year.

Light commercial vehicles were the growth drivers in this segment pushing overall exports to 2,246 units.

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Motorcycles posted growth of 65 per cent and the maximum volumes of 28,152 units. Moped exports too grew an impressive 72 per cent, but scooter exports remained flat, up 0.7 per cent. Bajaj Auto and Hero Honda contributed the lion’s share, exporting 12,353 and 8,415 vehicles, respectively.

In passenger cars, Hyundai Motor India accounted for over 62 per cent of overseas sales at 6,553 units in April 2005. Maruti Udyog Ltd, continued to register a slump with exports declining 58 per cent to 1,167 units in the month vis-a-vis April 2004.