During the April-July 2021 period, passenger vehicle exports grew by 131 percent. During the first four months of 2021, 1,79,434 units were shipped overseas, as compared to 77,802 units shipped overseas during the same period in 2020.
There is also an indication that the Indian passenger car market is opening up for global markets, alongside the continued sales in the domestic market. Despite recent economic challenges, exports remain a phenomenal revenue generator. Not only do they produce high margin revenue, but they keep factories buzzing in times of national boom and bust.
Let’s us have a look at the top passenger vehicle (PV) exporters from during April-July 2021.
Maruti Suzuki Exports 66,059 units
The leading exporter so far this fiscal is Maruti Suzuki India with 66,059 units selling for 311 percent higher than a year ago. Hyundai Motor India is trailing by 23,971 units. According to Company data, S-Presso (9,986 units), Dzire (9,914 units), Swift (7,402 units) and Vitara Brezza (6,839 units) are the bestselling models in the export markets. In terms of export volume, the three-door Jimny is sixth with 4,790 units for Latin America, Middle East and Africa.
Hyundai Motor India Exports 42,088 units
In the PV export rankings, Hyundai Motor India is ranked second, down from first place in FY2020. There are three popular models for export for the company: the Creta SUV (10833 units), the Grand i10 (8,870 units) and the Verna sedan (6,765 units). The exports of Alcazar SUV have just commenced.
Volkswagen India Exports 16,455 units
On the export front, the German car manufacturer is performing well. Volkswagen India, which was sixth in FY2021 PV exports (31,089 units), now sits at third with 16,455 units shipped. Furthermore, this figure represents 53 percent of FY2021 figures. Vento exports have reached 10,976 units and Polo exports have reached 5,479 units.
Kia India Exports 15,641 units
Kia, which recently reached the milestone of 3,00,000 units in just 24 months, is in fourth place with 15,641 units, maintaining the position it had in FY2021. The Seltos is also the company’s top-selling model in India, and it is also the one with the highest export sales at 9,385 units, representing 60 percent of the year’s total export sales. Kia’s Seltos has also enjoyed high sales in India, accounting for 66 percent of its total sales.
Ford India Exports 12,010 units
A total of 12,010 units were shipped by the American carmaker between April and July 20, 2021, slipping from third place in FY2021 to fifth place. Ford’s most popular export is the EcoSport, accounting for total export of 10,367 units.
Nissan Motor India Exports 11,821 units
Nissan exports 11,821 units, down from 11,832 units exported in FY2021. The Japanese vehicle manufacturer’s Sunny sedan accounts for worldwide exports of 8,908 units, while the recently launched Magnite compact SUV accounts for global exports of 2,016 units.
Top 10 export models:
The Top 10 export models listed below account for 57 percent of total Passenger Vehicles made-in-India shipments of 1,79,434 units, demonstrating how important the models are to the India export story.
|Maruti Suzuki Baleno||16,175|
|Maruti Suzuki S-Presso||9,986|
|Maruti Suzuki Dzire||9,914|
|Hyundai Grand i10||8,870|
|Maruti Suzuki Swift||7,402|
Maruti Suzuki has four models in this top-selling chart with the premium Baleno ranking first with 16,175 units. Interestingly, SUVs, sedans, and hatchbacks seem to be equally popular in export markets with regard to body type.
Is there an impact on exports from the global shortage of semiconductors?
Global markets have opened up, so year-on-year growth during April-July 2021 has been 131 percent, especially after the pandemic affected FY2020. The annual holiday season is fast approaching and some carmakers are ramping up production to take advantage of the high-margin export market.
There is a challenge looming for the Indian automaker’s exports: the global semiconductor crisis. It has affected all most all carmakers, whether they are Mahindra & Mahindra, Maruti Suzuki, or Tata Motors. The semiconductor shortage has led to the partial suspension of production at Maruti Suzuki’s contract manufacturing plant in Gujarat this month.
The semiconductor stocks will determine how automakers will reorganize their production schedules to meet the demand for high-margin models for the domestic market, ready dealer inventory for the holiday season, and, most importantly, ensure the delivery of high-margin models for export.