Indian Carmakers have been able to expand their overseas presence with exports from India by registering a growth of 57.04% in the last fiscal. According to the figures released by the Society of Indian Automobile Manufacturers (SIAM), passenger car exports from India touched 3,31,539 units in FY09 as against 2,11,112 units in the previous financial year.
The country’s largest exporter, Hyundai Motor India, witnessed an export growth rate of 63% at 2,35,345 units compared with 1,44,440 units in the year-ago period. Domestic market leader Maruti Suzuki India was a distant second, registering 32.58% growth in overseas sales at 68,834 units in 2008-09 as against 51,916 units in the previous fiscal.
Overall vehicle exports from India grew by 23.60% at 15,30,660 units in the last financial year, while the same stood at 12,38,333 units in the previous fiscal, SIAM said. Exports growth in the last financial year was robust also in the two-wheeler category, which registered 22.50 per cent rise at 10,04,174 units as against 8,19,713 units in the previous financial year.