Automobile Exports Decline By 19 Percent In January

Written By:

Automobile exports from India has seen a decline of almost 19 percent in January 2016. Carmakers exported 33,909 units in January 2016, compared to exporting 41,787 units during January 2015.

The major reason for the decline in export is due to challenges faced in some of the export markets such as Algeria, Europe, and other neighbouring countries.

Sugato Sen, the Deputy Director General of the Society of Indian Automobile Manufacturers (SIAM) told PTI, "We are facing issues in Algeria as they have brought in some changes in technical regulations. We have visited the country to sort out the issues. It is bothering us."

Carmakers are facing high taxation issues in Sri Lanka, while in Europe, India's biggest export market for compact cars is still recovering from a slump. During 2014-15, Indian carmakers exported vehicles worth USD 293 million to Algeria, USD 158 million worth vehicles to Sri Lanka, and USD 335 million worth vehicle shipments to Europe.

Click to compare, buy, and renew Car Insurance online

Buy InsuranceBuy Now

Read more on: #auto news
Story first published: Tuesday, February 16, 2016, 10:27 [IST]
Please Wait while comments are loading...

Latest Wallpapers