The recent financial downturn, increase in fuel prices and other factors has given a pinch to the Indian car industry. The car market has been experiencing a dip in their sales domestically but the car export sees a growth.
According to a recent survey by the Society of Indian Automobile Manufacturers (SIAM), car exports have been on an upper path at 56 percent during the first half of fiscal year 2008-09. Whereas, the domestic car market saw only 5.3 percent of sales during the same period. The total car exports were 1.54 lakh units in comparison with 99,266 units exported during the last fiscal.
According to SIAM’s study, during April-September, 2008, Hyundai Motors exported nearly 1.2 lakh cars of various models to over 90 countries with i10 bagging the credit for the overall units sold. The sales of Maruti-Suzuki cars jumped by 25 percent to 29,698 in the first half of the year compared to 23,750 units in the same period last fiscal.