While the domestic market sales is down; we expected exports to be positively up. However; even export statistics aren’t enthusiastic and overall cars exports for January 2020 was down by over 6% YoY. In this post; we shall assess the performance for the Top 10 exported cars for the month of Jan’20. The reason being; these Top 10 cars contributed near to 75% of the overall cars exports! We still believe that India has still not leveraged on the export potential and considering the low capacity utilization of the OEMs; we could have done much better.
Top 10 Exported Cars for January 2020 –
- General Motors’s Beat was the most exported car of Jan’20! While GM had entirely dedicated the Talegaon plant for Exports; it took a call to sell the overall manufacturing facility to China’s Great Wall Motors. With this GM shall completely abandon & exit Indian soil. As per recent reports; GM has also sold its Thailand facility to Great Wall Motors as well. We believe that GMs decision to leave non-profitable markets may prove to be a disadvantage in longer run.
- Though Ford’s Ecosport stood second in terms of most exported vehicles; the export volume degrew a hefty -26% YoY! Ford has been extremely focused on exports for a very long time and the dwindling volumes are a matter of concern.
- Verna was Hyundai’s most exported car for Jan’20. However; Hyundai’s focus seems to be in exporting Creta – Creta’s exports multiplied by almost 5 times in Jan’20 v/s Jan’19!
- Kia played a smart game in terms of exports too! The best selling SUV of Jan’20 (in domestic market) made an impressive impact in terms of exports too. Seltos exports was just 144 units short of the sibling Creta’s exports. Kia’s capacity utilization has been exemplary and there are talks going on that Kia is already looking space for a second plant in India!
- The remaining 4 exported models were from Maruti’s stable. And S-Presso was the most exported vehicle from Maruti Suzuki!