Maruti Egypt Exports Drop

By Agencies

Published: Thursday, February 3, 2011, 16:24 [IST]

The civilian unrest in Egypt has affected the export prospects of Maruti. For Maruti, the export to Egypt accounts for 3% among global exports and the 10-day old Egypt civil unrest has hit the company at a great level, said the Managing Chief Executive Officer of Maruti.

The export volume during the last fiscal was 1.47 lakh units of which Alto constituted a great volume to Egypt. Maruti deals the business in Egypt through a lone distributor for selling its cars. Maruti is one among the affected Indian companies like Asian Paints, Marico and Dabur who have shut down their operations.

Already the company has seen a fall in its export volume in Europe which happens to be the most potential market. This has been apparent in its export stint in January when it could muster a fall of 36% with 9321 units against 14,562 units in January 2010. The net export volume as on now during this fiscal is down by 2.9% during April-January with 116636 units against 120097 units in the corresponding period of the previous fiscal.

Article Published On: Thursday, February 3, 2011, 16:18 [IST]

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