Top Car Exporters Suffer Loss Of Shares To New Entrants

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The top car exporters from India have suffered a loss of shares. Because of various reasons such as fall in the overseas market, rerouting of production and change in plans from headquarters have led to this downward growth of leading car exporters from India.

The top three car manufacturers, Hyundai, Maruti Suzuki and Nissan which controlled 86 percent of passenger vehicle exports from India. Have collectively seen a fall of shares by 53 percent from past three years.

Korean car maker Hyundai Motors saw a decline in exports by the end of last financial year, with a share of just 25 percent as per reports from Society of Indian Automobile Manufacturers. In a similar fashion, Nissan also saw a gradual decline in shares from last three years.

Indian leading manufacturer, Maruti Suzuki's story is no different. It has not seen a significant growth in export shares due to various internal reasons. And also fall in demand from the international market despite the introduction of new models has played its part.

Amidst all these developments, Ford has emerged as the largest passenger vehicles from India in August, surpassing. Hyundai. The other firms such as Volkswagen and General Motors also reported a strong growth in exports from the country.

 

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Read more on: #auto news
Story first published: Friday, September 23, 2016, 17:37 [IST]
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