India's auto exports to escalate
Automobile exports from India are expected to shoot up to $12 billion by 2014 from $4.5 billion in the last fiscal, according to a news report.
Automobile exports from India are expected to shoot up to $12 billion by 2014 from $4.5 billion in the last fiscal, according to a news report.
Firms are witnessing an increase in demand for cheap small cars and two-wheelers from the UK, European Union, Sri Lanka, Bangladesh, Nepal and South Africa.
Exports have been growing at the rate of 25 per cent over the last five years.
“Domestic automobile exports are expected to grow 20-22 per cent over the next few years with demand coming from emerging markets and European countries,” Vaishali Jajoo, auto analyst with Angel Broking, told The Telegraph.
While Maruti Suzuki India is phasing out its M800 model in the domestic market, its export jumped 91.5 per cent to 4,435 units in the April-August period against 2,316 in the same period last year, Siam data showed.
The company exports the M800 to neighbouring countries and other nations such as Algeria, Chile and Egypt.
“Britain has emerged as India’s largest automobile export market where the industry sold cars worth $481 million in 2009-10,” said the Ficci study.
Italy is the second largest market with sales of $433.77 million, followed by Germany, the Netherlands and South Africa.
Exports have been growing at the rate of 25 per cent over the last five years.
“Domestic automobile exports are expected to grow 20-22 per cent over the next few years with demand coming from emerging markets and European countries,” Vaishali Jajoo, auto analyst with Angel Broking, told The Telegraph.
While Maruti Suzuki India is phasing out its M800 model in the domestic market, its export jumped 91.5 per cent to 4,435 units in the April-August period against 2,316 in the same period last year, Siam data showed.
The company exports the M800 to neighbouring countries and other nations such as Algeria, Chile and Egypt.
“Britain has emerged as India’s largest automobile export market where the industry sold cars worth $481 million in 2009-10,” said the Ficci study.
Italy is the second largest market with sales of $433.77 million, followed by Germany, the Netherlands and South Africa.
