InvestorQ : How are India’s auto exports doing? Have shown some signs of a bounce in June?
diksha shah made post

How are India’s auto exports doing? Have shown some signs of a bounce in June?

Answer
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ishika Banerjee answered.
3 months ago


With the COVID-19 hitting demand across the world, India’s exports of passenger vehicles also dropped sharply to 43,748 units in Jun-20 quarter from 173,054 units in the Jun-19 period. In fact, passenger car exports for the Jun-20 quarter dropped by 76.58% to 31,896 units while the exports of utility vehicles dropped 67.56% to 11,813 units.

The Society of Indian Automobile Manufacturers, or SIAM, has attributed this fall to the COVID related disruptions. The pandemic not only shut down factories and depressed demand, but also impeded supply chains to the auto industry. PVs from India are exported to countries in Latin America, Europe, Africa and Asia. Hyundai and Maruti were worst hit.