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Automobile Exports From India Decline By 5% in 2016

Date 17-Jan-2017
Subject Automobile Exports From India Decline By 5% in 2016

NEW DELHI: India’s automobile exports across categories fell 5 per cent in 2016 dragged down by lower sales of two and three-wheelers in various markets, including Latin America and Africa.

According to latest data by Society of Indian Automobile Manufactures (SIAM), overall exports during the last year stood at 34,34,322 units as compared to 36,14,851 units in 2015, down 4.99 per cent.

Two-wheeler and three-wheeler exports pulled down the overall exports during the last year even as overseas shipments in segments like passenger vehicles and commercial vehicles grew in double digits.

Major markets in Latin America and Africa continued to reel under high inflation and currency devaluation thereby impacting demand for vehicles exported from India.

Three-wheelers exports stood at 2,88,732 units in 2016 as compared to 4,24,881 units in January-December period of 2015, down 32.04 per cent.

Two-wheeler exports last year stood at 22,94,123 units as compared with 24,60,471 units in 2015, down 6.76 per cent.

Motorcycle shipments during the year stood at 19,81,927 units, down 10.96 per cent, as compared to 22,25,837 units in 2015.

Scooter exports were up 33.95 per cent during the year at 2,94,318 units as against 2,19,724 units in 2015.

Exports of passenger vehicle, however, increased by 17.13 per cent to 7,38,454 units in 2016 as compared to 6,30,474 units in 2015.

Utility vehicles saw the biggest jump in exports at 1,56,295 units, up 52.62 per cent, from 1,02,411 units in 2015. Overseas shipments of passenger cars stood at 5,79,635 units, up 10.12 per cent from 5,26,385 units in 2015.

Source: Dailyshippingtimes.com

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