New Delhi: Passenger vehicle exports from India fell 75 per cent in the first quarter of the current fiscal as demand plunged due to coronavirus pandemic related disruptions across the globe.
Total passenger vehicle (PV) exports declined to 43,748 units in April-June quarter as compared with 1,73,054 units in the year ago period, according to Society of Indian Automobile Manufacturers’ (SIAM) data.
Passenger car exports dipped 76.58 per cent to 31,896 units as against 1,36,204 units in AprilJune period of 2019-20.
Similarly, overseas shipments of utility vehicles declined 67.56 per cent to 11,813 units in the period under review as compared with 36,418 units a year ago.
Van exports stood at just 39 units during April-June period, down 90.97 per cent from 432 units in the first quarter of last fiscal. The 75 per cent fall in exports of passenger vehicles in the first quarter of FY21 is due to the COVID-19 related disruptions globally, which has led to closure of plants and dealerships, supply chain disruptions, curfews in cities and interruptions in international trade, said Rajesh Menon, Director General, SIAM.
However, improvement is already visible in exports, and shipments should see a rise in subsequent months, he noted.
PVs from India are mainly exported to countries in Latin America, Africa, Europe and Asia. Among automakers, Hyundai Motor India led the segment with export of 12,688 units in April-June. However, the company’s exports were 74.73 per cent lower as compared with the same period of last fiscal.