As the demand continue to shrink in the domestic market, passenger vehicle makers are trying to leverage the opportunities overseas. Export of passenger vehicles have grown by 20.37 per cent in the month of November, according to the data released by the Society of Indian Automobile Manufacturers (SIAM).
Overall, the carmakers exported a total of 58,562 units in November 2019 when compared to 48,652 units in the same month last year. The rise in passenger vehicle exports can be attributed to the carmakers expansion in the overseas markets and product portfolio.
South Korean carmaker, Hyundai Motor India Limited (HMIL) which accounts for 27.15 per cent of the total exports, shipped 15,900 units witnessing a growth of 25.18 per cent. Recently the carmaker invited over 60 international partners to strengthen its export market.
The carmaker has launched its compact SUV Venue on December 2, 2019, in the South African market. The company has already shipped 1,400 units to South Africa from Chennai Port. The other markets for Venue exports are Nepal, Bhutan, Mauritius, and Seychelles.
Currently, the 1.0 Turbo GDi with 7 DCT right-hand drive model is being exported to all the countries including South Africa.
The left-hand drive model is under development and is planned to be exported to the region of Gulf, Africa, and Latin America.
Apart from Venue, Hyundai Verna (sold as Accent) has been the segment leader in regions like the Middle East and Saudi Arabia, claims the company.
Similarly, Nissan India which is the third-largest exporter of passenger vehicles from India saw a rise of 71.10 per cent in its shipments. It exported 8,680 units in the month of November 2019, when compared to 5,073 units.
On the back of increased demand for the Made-in-India Sunny in the Gulf region and Datsun models in South Africa, Nissan India witnessed 22% growth in exports. From April to November 2019, Nissan has exported around 46,510 units as compared to 37,929 units same period last year. Nissan recently commenced exports of the all new Nissan KICKS to Nepal and Bhutan , and the Datsun GO and GO+ CVT to South Africa. Revenue from exports has helped maintain a healthy cash flow and substantially enhanced capacity utilization enabling greater efficiencies.
On the other hand, Renault India saw a 91 percent growth in exports because of the recently launched Renault Kwid facelift which is being exported to the SAARC region and Africa region.
The Renault Nissan Automotive India Private Limited (RNAIPL) plant based in Oragadam, Chennai, will end the financial year with over 65,000 exports for Nissan and Datsun brand alone. All this is possible due to the high quality level and cost competitiveness of the products from RNAIPL. We aim to remain one of the largest automotive exporters from India as part of our commitment to support ‘Make in India’", said Biju Balendran, MD & CEO - Renault Nissan Automotive India Private Limited (RNAIPL).
Another top gainer is General Motors which exported over 5,000 units of its hatchback Beat.