Auto exports grew 5 percent: SIAM
Continuing supply-side challenges such as semiconductor shortages, increase in cost due to new regulations, higher commodity prices, higher logistics cost etc. have impacted overall sales in the auto industry.
India’s overall exports comprising passenger vehicles, two-and three-wheelers grew by 5 percent with 463,025 vehicles exported in February 2022. In February 2021, 441,797 units were exported. Compared to January, exports saw a two percent growth with 454,953 units exported during the month.
Passenger vehicle exports increased by 44 percent in February 2022 with a total of 51,213 vehicles exported compared to 35,345 units in the year-earlier month.
Maruti was the leading exporter with 23,787 units, a 109 percent increase compared to February 2021 when exports were 11,364 units.
According to SIAM, two-wheeler exports increased 3 percent. A total of 375,689 units were exported in February 2022 as against 364,646 units in the year-earlier month. Bajaj Auto and TVS Motor Company were major contributors for the month with 182,814 units and 94,427 units respectively for the month.
Total three-wheeler exports saw a 13 percent drop at 35,997 vehicles in February 2022. In the year-earlier month, exports stood at 41,176 units. Bajaj Auto was the leading exporter in the segment with 19,537 units exported in February 2022.
Rajesh Menon, Director General, SIAM said, "Continuing supply-side challenges such as semiconductor shortages, increase in cost due to new regulations, higher commodity prices, higher logistics cost etc. have impacted overall sales in the auto industry. The industry is closely watching the possible impact of the on-going conflict in Ukraine, as global supply chains could come under stress.”
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