GET Stock QuotesNews18 APP
News18 English
Powered by cricketnext logo
»
2-min read

Automobile Exports From India Decline by 5% In 2016

India's automobile exports across categories fell 5 per cent in 2016 dragged down by lower sales of two and three-wheelers in various markets, including Latin America and Africa.

Press Trust Of India

Updated:January 15, 2017, 11:59 AM IST
facebookTwittergoogleskypewhatsapp
Automobile Exports From India Decline by 5% In 2016
File photo of Maruti Suzuki Ignis.
Loading...

New Delhi: India's automobile exports across categories fell 5 per cent in 2016 dragged down by lower sales of two and three-wheelers in various markets, including Latin America and Africa.

According to latest data by Society of Indian Automobile Manufactures (SIAM), overall exports during the last year stood at 34,34,322 units as compared to 36,14,851 units in 2015, down 4.99 per cent.

Two-wheeler and three-wheeler exports pulled down the overall exports during the last year even as overseas shipments in segments like passenger vehicles and commercial vehicles grew in double digits.

Major markets in Latin America and Africa continued to reel under high inflation and currency devaluation thereby impacting demand for vehicles exported from India.

Three-wheelers exports stood at 2,88,732 units in 2016 as compared to 4,24,881 units in January-December period of 2015, down 32.04 per cent.

Two-wheeler exports last year stood at 22,94,123 units as compared with 24,60,471 units in 2015, down 6.76 per cent.

Motorcycle shipments during the year stood at 19,81,927 units, down 10.96 per cent, as compared to 22,25,837 units in 2015.

Scooter exports were up 33.95 per cent during the year at 2,94,318 units as against 2,19,724 units in 2015.

Commenting on the situation, Price Waterhouse Partner and auto expert Abdul Majeed told PTI: "Most of the exports markets are not doing well, especially countries depending on commodity and oil exports. The whole of South American and African economies are struggling."

Exports of passenger vehicle, however, increased by 17.13 per cent to 7,38,454 units in 2016 as compared to 6,30,474 units in 2015.

Utility vehicles saw the biggest jump in exports at 1,56,295 units, up 52.62 per cent, from 1,02,411 units in 2015. Overseas shipments of passenger cars stood at 5,79,635 units, up 10.12 per cent from 5,26,385 units in 2015.

Van exports rose 50.42 per cent to 2,524 units.

Similarly, total exports of commercial vehicles stood at 1,11,319 units in 2016, up 12.55 per cent from 98,909 units in 2015.

In the domestic market, sales across categories rose by 9.17 per cent at 2,19,01,572 units in the January-December period of 2016 as compared with 2,00,61,389 units in 2015.

Two wheeler sales rose by 9.7 per cent to 1,76,86,563 units during the year, despite taking a hit of over 22 per cent in December sales owing to high value currency pullback initiative by the government.

Total three-wheeler sales rose 6.12 per cent, commercial vehicles by 7.67 per cent, while passenger vehicles increased by 7.01 per cent in the domestic market during 2016.

Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwittergoogleskypewhatsapp
Most Active
Company Price Change %Gain
Reliance 1,101.30 -4.34
Indiabulls Hsg 653.80 -17.10
Dewan Housing 210.55 -10.75
Yes Bank 217.90 -6.04
Bajaj Finance 2,140.50 -0.47
Company Price Change %Gain
Sudarshan Chem 385.05 2.64
Indiabulls Hsg 654.25 -17.06
Reliance 1,101.65 -4.11
Dewan Housing 211.80 -10.37
Yes Bank 217.70 -6.06
Top Gainers
Company Price Change %Gain
ITC 289.45 1.05
HUL 1,578.40 1.05
Kotak Mahindra 1,198.95 1.95
HPCL 215.90 4.15
Wipro 323.15 0.00
Company Price Change %Gain
Sun Pharma 608.40 2.52
Kotak Mahindra 1,199.55 1.83
Vedanta 211.15 1.51
HUL 1,579.20 1.16
ITC 288.45 0.73
Top Losers
Company Price Change %Gain
Indiabulls Hsg 653.80 -17.10
Yes Bank 217.90 -6.04
Bajaj Finance 2,140.50 -0.47
Hero Motocorp 2,712.75 -3.38
BPCL 283.55 -0.56
Company Price Change %Gain
Yes Bank 217.70 -6.06
HDFC 1,661.30 -4.32
Reliance 1,101.65 -4.11
Hero Motocorp 2,711.00 -3.70
Infosys 682.60 -3.11

Live TV

Loading...
Loading...