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.