Hyundai emerges as the largest exporter of Passenger Vehicles from India in FY2019-20 (Apr’19-Mar’20).
The Passenger vehicle exports from India had a flat growth (0.2%) in FY2019-20 v/s FY2018-19. South Korean Auto Major, Hyundai Motor India overtakes Ford India to become the top passenger exporter from the Indian sub-continent in the previous fiscal. Made in India cars are exported to about 175 countries and the primary export markets include – Mexico, Saudi Arabia, South Africa, Tunisia, Latin America, Chile, Peru, etc. Hyundai alone exports to over 91 countries across Africa, Middle East, Latin America, Australia and Asia Pacific!
- Hyundai’s export volumes increased by almost 5% in FY2020 v/s FY2019. Hyundai now contributes to over 25% of the cars exported from the Indian soil.
- Hyundai’s sibling Kia too has made a strong entry in exports market. It exported over 21k cars in the past 8 months and contributed to 3.2% of the passenger vehicle exports in India! Infact, it was able to export more than the biggies like Renault & Toyota.
- The drop in exports from Ford India was a concern. In a way it signified Ford’s disinterest from the Indian operations. No wonder it got into an agreement with M&M last year where Mahindra shall have the controlling stakes of 51 percent.
- GM exported ~70k units of Beat alone. The vehicle is exported primarily to Latin American markets for GM’s plant in Talegaon. Now that the Talegaon plant is sold; it is to be seen how the plant handover is done to Great Wall Motors.