Car exports slip 4% during April-February period
MUMBAI : Passenger car shipments from India declined 3.71% to 4,84,602 units in April-February period of this fiscal due to challenges in top export markets like Algeria, Europe and neighbouring countries.
Car makers had shipped 5,03,292 units in the same period of the previous fiscal.
According to industry body SIAM officials, the decline in car exports from India is due to issues in one of the biggest markets Algeria, which has brought in changes in technical regulations.
Moreover, in Sri Lanka Indian car exporters are facing high taxation issues while Europe, the biggest market for compact cars from India, is still recovering from a slump.