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Auto Sales Report: Exports of two wheelers, three wheelers and passenger vehicles from India declined by 35 percent in February. The main reason for this is the weakness of the currencies of the destination countries especially in the continent of Africa in comparison to the US dollar. According to industry body Society of Indian Automobile Manufacturers (SIAM), exports of two-wheelers, passenger vehicles and three-wheelers declined to 3,01,561 units last month from 4,63,025 units in February 2022.
According to these figures, 3,75,689 two-wheelers were exported in February 2022, which decreased by 37 percent to 2,35,087 units in February this year. Motorcycle exports stood at 2,01,097 units as against 3,49,221 units in February last year. However, scooter exports increased to 33,378 units in February this year as compared to 24,830 units last year.
Total exports of three wheelers fell 45 percent to 19,640 units as compared to 35,997 units in February 2022. SIAM Director General Rajesh Menon said about this, for the last few months, there is a decline in exports of two wheelers, three wheelers and commercial vehicles because of the devaluation of currencies in many places, especially in Africa and other developing countries.
He said that these countries are facing problems regarding the availability of foreign funds due to which the sale of vehicles is being limited and the countries are focusing more on the import of essential commodities. However, there is a demand for vehicles from the consumers in these markets.
Total exports of passenger vehicles declined nine per cent to 46,486 units from 51,213 units in February last year. Passenger car exports stood at 25,207 units as against 33,515 units last year.
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