Except Hyundai all other manufacturers registered negative growth in Q1 FY19 as it stood at 39,425 units compared to 33,158 units in Q1 FY18
Hyundai regains top exporter badge as it beats Ford in Q1 FY19 in India. But exports from the country declined 7.37 percent to 1,67,161 units in April-June compared to 1,86,464 units in same period last year. Except Hyundai, all other manufacturers registered negative growth in Q1 FY19 as the Korean manufacturer exported 39,425 units compared to 33,158 units in Q1 FY18.
Ford registered sharp decline as the company exported 35,258 units when compared to 48,881 in same time last year. The American manufacturer was preparing for the launch of new Freestyle, which could be the reason for decline in exports and refreshed products like Grand i10, Xcent and Verna are contributing for Hyundai’s growth.
Maruti Suzuki, India’s largest car manufacturer in sales, exported 25,425 units against 25,456 units last year. The new Dzire helped the company to improve from fourth to third position in this quarter as the Indo-Japanese manufacturer exported 2,715 units compared to 147 units in FY18, but the No.1 exported model for Maruti was Baleno.
Volkswagen registered 28 percent drop in this quarter as the German manufacturer exported 21,388 units against 26,576 units in FY18. Even though General Motors registered 3 percent drop, the company has managed to export 20,543 units at an average of 6,850 units every month, which is much better than what they sold in domestic market when they were present.
General Motors Beat became the No.1 exported model in India with 20,543 units in FY19. Ford has managed to export only 20,511 units with a drop of 15 percent as the EcoSport held the No.1 export model crown for a long time previously. GM exports Beat to Mexico and Latin American markets.
Most of the manufacturers are exporting cars from India to global markets like South America, Africa and Asia. The tax structure on CBU models are going to change in these markets and manufacturers are planning to export CKD units instead of completely built cars. Hyundai has already commenced exports of CKD units to Vietnam and Philippines.