New Delhi sources reported that exports in the passenger vehicle (PV) segment (cars, utility vehicles and vans) are set to see a moderate drop for the first time in 2017-18, after a period of six years. Meanwhile the 11-month period of April 2017-February 2018 saw exports of cars and UVs declining by 1.80%, steadily rising from 508,783 units in 2011-12 to 758,830 units in 2016-17.
Previously the month of February witnessed a marginal de-growth of 1 per cent at 60,478 units. Going by this trend, if March records exports of 60,000-65000 units, a nominal drop of a few percentage points (2-3%) is on the cards. Moreover Sen pegged the PV industry’s outstanding claims at Rs 2,000 crore in 2017-18, with one car maker’s claims having risen to as high as Rs 1,300 crore, which had slowed down dispatches of shipments overseas.
Furthermore he expressed hope that exports would
not end on a negative note during the fiscal. In comparison, 2018-19 is
expected to see a rise in PV shipments as new entrants like Kia Motors are
bullish on boosting exports from India. Moreover the Renault-Nissan Alliance
plant near Chennai serves as an important export hub for Nissan.
