The Indian automotive industry is witnessing more exports in the auto industry even though the domestic market is slumped in India. According to reports, the domestic passenger vehicles is down and the export passenger vehicles are up. The reports also suggest that Maruti Suzuki is also playing a key role in the current market situation.
The passenger vehicle wholesales in India stand at 215,626 units which are down by 19% year on year. According to reports, Maruti Suzuki accounts for 109,726 units which are down by 19% YoY November 2020 135,755 which accounts for a total of 51% of domestic sales. However, in the export department, the sales were up by 15% with 44,265 units sold in November 2021. To this Maruti Suzuki contributed 21,198 units of sales which comes with a share of 48%.
Reports suggest that eight months into the fiscal Maruti Suzuki has set up its grip on the export market. The brand is also set to dethrone Hyundai which is currently the market leader says reports. In a ten-year export data, Maruti Suzuki’s best export year was 2018. Currently, S-Presso, Baleno, Swift, Dzire, Vitara Brezza and Jimny are the top six models in demand overseas.
Maruti Suzuki started production on the Suzuki Jimny in the Indian market in January 2021. The car brand has shifted its production base for Jimny in the Indian market. The brand earlier used to produce the car from the Japanese plant in Shizouka prefecture for consumption in the domestic and international market. While there is still a gap of 62,468 units between the two OEMs Hyundai may make a surprising comeback in December to March 2022.
The recent hike in petrol prices may have led to the low demand for passenger vehicles in the Indian market. Also, the semiconductor shortage has led to huge waiting times on premium cars in the Indian market.
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