FY 2016-17: Car exports from India record 16% YoY growth

During the last fiscal year, automotive manufacturers in India cumulatively shipped out 7,58,830 cars to various international markets. This figure marks a year-on-year growth rate of 16%, as compared to the corresponding figure of 6,53,053 units shipped in FY 2015-16.

Hyundai continued to lead the export charts with a total of 1,67,120 units exported during the April 2016 - March 2017 period. The South-Korean manufacturer was followed by Ford, which shipped out 1,58,469 units. Maruti Suzuki ranked third on the top car exporters chart with 1,22,895 unit exports. Renault recorded a growth of 7290% and became the eighth largest exporter with 10,641 units, majorly led by the Kwid hatchback. The French carmaker had exported just 144 units in the preceding FY. Other carmakers with huge export growth were General Motors (89%) and Mahindra (80%).

The Ford EcoSport was the most exported car in FY 2016-17 with Ford exporting 79,539 units of the compact SUV. The VW Vento took the second spot with 71,539 units, followed by the Chevrolet Beat with 70,969 units. Interestingly, despite being the leading exporter, Hyundai didn’t have any model on the top 5-spots of the list of most exported cars from India.

Source: AutoPunditz