The fall in rupee value has set many of the Indian car manufacturers to revise their export targets and push car sales overseas. In this fiscal year, the rupee has depreciated against the dollar from Rs 40 to Rs 46.
India’s largest passenger car exporter, Hyundai Motors India, is scheduling to revise its export target from 2.12 lakh units to 2.6 lakh units for the current fiscal. In the present era, the company is exporting its car in all major countries and now desires to make its venture in smaller markets as well.
As stated by Mr Anand Mahindra, Vice-Chairman and Managing Director, Mahindra & Mahindra, the present state when the rupee has fallen down is extremely good for exports. The company plans to venture new regions with its utility vehicles and trucks.
Apart from Hyundai and Mahindra, Maruti Suzuki India also plans to take advantage of the depreciated rupee and expand its footprints in the global car market.