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Indian auto exports disappoint - Views on News from Equitymaster
 
 
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  • Jan 4, 2000

    Indian auto exports disappoint

    India's major auto players, Maruti, Bajaj Auto and LML have posted negative export growth over the period April-November 1999.

    The disappointing export performance of these companies is in stark contrast to the impressive show at the domestic level. For instance Maruti's exports fell 10.4% in April-November 1999, over the corresponding period last year. TELCO's car exports declined to only 61 units (973 units in the previous year).

    Two-wheeler companies fared little better. Bajaj Auto (down 28%) and LML (55%) witnessed slide in exports. Even motorcycle major Hero Honda saw a steep decline of 35.3% in exports. TVS Suzuki (up 115%) and Escorts Yamaha (13.5%) were the only two-wheeler companies to beat the trend. Two-wheelers on the whole fell 25.9%. This was revealed by a leading financial daily.

    The reasons for this can be traced to increasing demand at home, which has forced these companies to reduce exposure to export markets. Over-capacity in the international markets could be another reason.

     

     

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