Ford India reported a sharp rise in exports in June this year even as other car makers saw outward shipments either falling or remaining flat for the month.
The Indian arm of the American car maker saw exports jump to 10,285 units last month from 3,452 cars in June last year, PTI reported on Friday, citing a company statement. The company's domestic sales also increased substantially to 19,754 units from 7,979 units in June 2015.
In sharp contrast, other car makers either reported a fall in exports or muted growth, reflecting the weakness in the global economy.
Maruti Suzuki India Ltd. (MSIL) exports dropped 44.7 percent to 6,707 cars in June this year from 12,130 units shipped in June 2015 while Hyundai Motor India reported a growth of less than 1 percent at 15,907 cars last month as against 15,762 units exported in June 2015.
Hyundai claims to be the largest passenger car exporter, according to a company statement.
Toyota Kirloskar Motor (TKM) also saw its exports fall during the month. The company exported 1,352 units of Etios this June as against 1,917 cars sold in the corresponding month last year.
Honda Cars India Ltd. exported 393 units in June 2016, 43 units more than it shipped last June, though the company's domestic sales fell to 11,407 units last month from 18,380 cars in June 2015.
Tata Motors said its exports rose 11 percent to 5,603 units last month from 5,046 vehicles shipped in June 2015, though it was not clear from the company statement whether it included both cars and commercial vehicles.
The company's passenger vehicle sales in the domestic market increased 22 percent to 12,509 units from 10,281 cars sold in June last year.
The outlook for the global economy may be weak, but car makers are optimistic of a buoyancy in domestic sales, thanks to the hike in salaries and allowances of Central government employees and pensioners. The auto sector is expected to gain along with the FMCG and real estate sectors.
"Better monsoon, positive customer sentiments and seventh pay commission bonanza should help auto industry to perform much better then last fiscal year, possible GST roll out and resolution on ban on large diesel vehicle will also help the auto industry in keeping the growth momentum," Abdul Majeed, Partner, PwC said in a statement.
