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Old 19th August 2015, 12:24   #1
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Default Mexico will soon become largest market for car exports from India

Mexico will soon become the biggest export market for Indian carmakers. About one-fifth of all the cars exported from India are expected to make it to the Mexican market this fiscal.

In 2014-15 India exported 82,000 vehicles to Mexico. In 2015-16, this number is expected to grow to 1.32 lakh units. In the process, the Central American country will overtake South Africa as the biggest export market for Indian carmakers.

Among the leading exporters to Mexico are Volkswagen and General Motors. Volkswagen shipped 55,000 cars to Mexico in 2014 and expects to ship more vehicles in 2015. The Vento has become a popular car in the country. General Motors is expected to ship more than 45,000 units of the Beat hatchback (known as the Spark in Mexico).

Other cars that will be exported include the Hyundai i10 Grand and Xcent, Ford Figo and Figo Aspire, and Maruti Suzuki Ciaz. Hyundai plans to ship more than 12,500 cars to Mexico in 2015.

The Mexican car market has grown 22% year on year to more than 6 lakh units in the first six months of 2015. It is expected to enter the top five car markets in the world by the end of this decade.

For Indian carmakers, the flourishing Mexican car market has helped in utilising their production capacities. These were being underutilised as the demand in the Indian market has been weak. Additionally, exporting cars in large numbers helps manufacturers to gain from economies of scale.

Source: Economic Times

Last edited by Rehaan : 20th August 2015 at 18:41. Reason: 201f > 2014
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Old 20th August 2015, 16:37   #2
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Default Re: Mexico will soon become largest market for car exports from India

Even if it becomes the biggest export market, the laggard brands in India better not make business plans around it. Like India, Mexico is also a cheap place to manufacture cars and a lot of production has moved into that country in the last decade. In 2013, Mexico produced 1.8 million cars & 1.3 million commercial vehicles.

This isn't an importing country. Heck, Mexico exported 2.4 lakh cars in June 2014 alone - link.

If something becomes popular there, they will build it locally. Guaranteed.
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Old 20th August 2015, 16:52   #3
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Default Re: Mexico will soon become largest market for car exports from India

Quote:
Originally Posted by GTO View Post
If something becomes popular there, they will build it locally. Guaranteed.
If Mexico is building cars by themselves locally, our manufacturers would always find another countries waiting to import cars.
There are several African countries that depend on imports, and if the economy in such countries see a ray of hope, the potential for exporting cheap cars to those countries increases.
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