Automobile exports from India dip 28% in Q1 as several markets hit by monetary crisis
Automobile exports from India fell 28% in the April-June quarter of this year, due to currency devaluations and monetary crises in Africa and other developing countries. Passenger vehicle shipments declined by 5%, with passenger car shipments falling by 9%, only partially offset by a marginal decline in utility vehicle exports. Two-wheeler exports decreased by 31%, commercial vehicle shipments dropped by 25%, and three-wheeler exports plunged by 25%. The top three exporters were Maruti Suzuki, Hyundai Motor India, and Kia India.
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