Car exports slide further, fall 15% - Views on News from Equitymaster

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Car exports slide further, fall 15%

Feb 24, 2000

While domestic passenger car sales have never had it so good, locally manufactured cars are finding the going difficult in overseas markets, with exports sliding 15% over the period April-January 2000. News reports in a business daily reveal that car despatches to export markets fell 14.7%. Maruti has suffered a 28% fall in exports, with passenger car exports dipping to 14,618 units from 17,155 units last year. Maruti also exports utility vehicles. Tata Engineering’s cars also dipped to 246 units (down 81%) as against 1,299 units last year. On the whole, car exports fell to 16,232 units from 18,954 units.

The decline in exports can be attributed to the robust demand in local markets. A lot of Indian car manufacturers like Tata Engineering (Indica), Hyundai (Santro) and Daewoo (Matiz) do not have sufficient capacities to meet domestic and global demand. They have therefore concentrated on the domestic market. They will make a concerted foray in the export market only after building sufficient capacities to cater to both the markets. Until then, the domestic market will always hold priority over the export market.

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