Auto Exports From India Decline 19% in January

NEW DELHI : Passenger car shipments from India declined 18.85 per cent to 33,909 units in January due to challenges in top export markets like Algeria, Europe and neighbouring countries. Indian car makers had shipped 41,787 units in the same month of the previous year.

“We are facing issues in Algeria as they have brought in some changes in technical regulations. We have visited the country to sort out the issues. It is bothering us,” Society of Indian Automobile Manufacturers (SIAM) Deputy Director General Sugato Sen informed.

In 2014-15, Indian companies exported passenger vehicles worth USD 293 million to Algeria. Besides, PVs worth USD 158 million were exported to Sri Lanka. UK shipments accounted for USD 335 million.

In the April-January period this fiscal, car exports have declined by 5.22 per cent to 4,39,208 units as against 4,63,391 units in the corresponding period last fiscal. In Sri Lanka, the Indian car exporters are facing high taxation issues while Europe, the biggest market for compact cars from India, is still recovering from a slump, he added.

Source: - dailyshippingtimes.com