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More made-in-India cars hit the roads abroad in 2023, Auto News, ET Auto - Awaj Ludhiana Ki
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More made-in-India cars hit the roads abroad in 2023, Auto News, ET Auto

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January 7, 2024
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<p>With the Indian regulatory norms moving towards global standards, vehicles being developed and sold here need minimum adaptation for export markets, industry officials said. </p>
With the Indian regulatory norms moving towards global standards, vehicles being developed and sold here need minimum adaptation for export markets, industry officials said.

Made-in-India cars are finding increased global acceptance with top carmakers pushing exports to make the most of the strong cost and talent advantage available in the country.

Toyota, Volkswagen, Hyundai, Mahindra, Tata Motors, Honda and Skoda have all reported significant jumps in exports in 2023 even as market leader Maruti Suzuki hit a new high by exporting 261,700 passenger vehicles including cars and SUVs, data by Jato Dynamics show.

With the Indian regulatory norms moving towards global standards, vehicles being developed and sold here need minimum adaptation for export markets, industry officials said. India’s low-cost manufacturing, arbitrage in labour costs, availability of skilled manpower, and a well-developed supplier base offer carmakers a competitive cost advantage, they said.

“With increasingly stringent regulations focusing on safety, emissions, and technological advancements, car manufacturers are investing in research, development, and innovation,” said Piyush Arora, managing director and CEO of Škoda Auto Volkswagen India. VW exported 40,920 passenger vehicles in 2023, registering a growth of 29%, while Skoda’s exports soared 431% to 1,530 units.

Addressing the Bharat Mobility Global Expo 2024 on Friday, commerce and industry minister Piyush Goyal has called on the automobile industry to raise the share of vehicles being exported to 50% of all passenger vehicles made in the country by 2030 from levels 14% currently. India’s car exports stood at 671,384 units in 2023, up 4% from the last year, as per Jato Dynamics.

The boost in exports is also expected from electric vehicles, buoyed by the production-linked incentive (PLI) scheme for the automobile and parts industry.

Evaluating new markets
Carmakers have several EVs lined up for launch in the coming years and they are most likely to ship these to overseas markets as well. Last year, Toyota Kirloskar Motors (TKM) restarted exports by shipping Made-in-India Urban Cruiser Hyryder hybrid SUV to South Africa and West Asia.

“This development shows the company’s commitment towards ‘mass electrification’, which underpins India’s emergence as a global manufacturing hub for cleaner and greener vehicles,” a company spokesperson said. Toyota exported close to 16,000 passenger vehicles in 2023 against 263 units the previous year.

Toyota Group has also been exporting e-drives, a critical electric powertrain component in vehicles powered with advanced hybrid technology that is locally manufactured by Toyota Kirloskar Auto Parts (TKAP). Of the total installed capacity of 136,000 units in TKAP, 70% has been marked for exports. Apart from the existing export markets, car companies are evaluating new regions and markets.

Skoda Volkswagen, for example, plans to ship India-made cars to markets in East Asia this year. “We will soon be exporting locally manufactured Škoda Kushaq and Škoda Slavia car parts for production in Vietnam starting from 2024,” Arora said.

Currently, its key markets include Mexico, the Gulf Cooperation Council (GCC), sub-Saharan nations and North Africa. In many cases, cars made in India are shipped to other developing markets such as Southeast Asia, Latin America, and Africa. However, most of these markets have their own industry and are not much open to imports, said Ravi Bhatia, president at Jato Dynamics.

Tough competition
In the case of the more open markets such as Chile, Mexico, and South Africa, the competition is quite tough as Chinese makers are stronger and moving faster, he said. Last year, China overtook Japan as the largest car exporter.

But carmakers are gung-ho about boosting exports from India.

Market leader Maruti Suzuki plans to triple exports from India in the next 5-8 years. “About 40% of all cars exported from India are from Maruti Suzuki,” its senior executive director Shashank Srivastava said.

Its large model lineup and scale give Maruti Suzuki the cost advantage to export to newer markets, he said. Currently its top five markets include Chile, South Africa, Saudi Arabia, Ivory Coast, and the Philippines. Hyundai, the second-largest exporter of PVs from India, too, is exploring new markets, said Tarun Garg, COO of Hyundai Motor India.

Uncertainties due to volatile geopolitics and high inflation had led to some shipment disruptions last year.

  • Published On Jan 7, 2024 at 08:54 AM IST

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