Current Status about market in export of cars:
India’s achievements
With 662,891 vehicles exported in the year ending in March, automobile exports from India, which last year surpassed Japan and became the third-largest automobile market in the world after the United States and China, increased by 14%. Although that still lags well below Japan’s statistic of 3.37 million vehicles for the same time, automakers in India believe there is room for expansion.By March 2023 India exported 6,62,891 units after India Japan 3.37 million, Indonesia 5.12 million, Thailand 3 million units.
Nissan and Renault
A total of 500,000 units are produced annually by both businesses. According to Torres, the market introduction of new models will cause the present factory utilization rate of 50% to increase to 80% by 2025.
Maruti Suzuki
Being the top automaker with a 41% market share, the company plans to open its third facility by 2025 with a target production of 2,50,000 vehicles before increasing that to 1 million.
Skoda Auto Volkswagen
Auto Skoda The Indian Volkswagen factory have a capacity of roughly 240,000 vehicles. In 2022, the company produced 133,000 cars, or around 55% of its capacity.
CEO and Experts voice
Frank Torres, CEO of Nissan motor, India division
Torres said,”wants to use India as a big hub for exports.Export [from India] is one of the pillars of our strategy,” Torres said. “It is not only to increase the revenue but also increase our [production] capacity utilization.”
Harshvardhan Sharma, head of automotive retail practice at Nomura Research Institute, Gurugram
“Carmakers have learnt that if you make a compelling product, Indians are not averse to it.Manufacturers need not plan track one for India and track two for the global markets, as the Indian market is quite in sync and harmonized with global markets” Sharma said.
Piyush Arora, managing director and CEO at Skoda Auto Volkswagen
As per arora, he said “We are definitely exploring newer markets [for export from India] … Until last year, we were exporting only Volkswagen brand cars and now we started looking at Skoda brand cars as well [to the Middle East].I definitely believe that we have a cost advantage for the domestic market, and it translates into a cost advantage for exports as well. The strength of India’s low-cost manufacturing possibilities is definitely utilized.”