Indian car industry has witnessed a growth in the export market with a rise of 63.01%. Though the domestic market did not see good sales, a major thrust in the export of passenger cars is experienced.
According to the Society of Indian Automobile Manufacturers (SIAM), export of passenger cars during the April 08-January 09 period stood at 2,71,999 units against 1,66,859 units in the previous fiscal. In January 2009, exports from India grew by 12.49% that accounts for 21,530 units against 19,140 units exported in the corresponding month previous year.
The export growth is led by Hyundai Motor India with a rise of 91.13% in the current fiscal. In 10 month period, Hyundai has exported 2,14,900 units against 1,12,439 units in the corresponding period of the last fiscal. Car manufacturers like Maruti Suzuki, Mahindra-Renault, Fiat India, General Motors, and Honda Siel Cars India have also saw the growth trend with regards to car exports from India.