Maruti Suzuki loses No 2 slot to Nissan in car exports; Hyundai still numero uno
NEW DELHI: Maruti SuzukiBSE 0.60 % lost its coveted second slot in the lucrative car exports, 10 years after it ceded the crown to South Korean, Hyundai Motors as it grapples with intensified competition in overseas markets.
In the new pecking order, Nissan Motors India has moved ahead of Maruti SuzukiBSE 0.60 % in terms of export numbers as its current models Mirca and the Sunny sedan outsell Maruti’s list of top seller like A-Star, Alto and DZire.
Nissan India increased its export numbers by shipping 18% additional cars in the last financial year to take its tally to 1.16 lakh units, while Maruti Suzuki lost 16% in overseas sales to end the fiscal at 1.01 lakh cars sent out of India.
Hyundai Motor India managed to remain its top exporter tag by shipping 2.33 lakh cars in the last fiscal year, more cars the total tally of Nissan and Maruti Suzuki put together.
“Hyundai has established India market as the major export hub and a centre of excellence for compact cars. We have been the largest exporter from India for the past decade and have been sending ‘made in India’ cars to over 120 countries. India serves as the major source for models like Eon, Santro, i10, Grand, Accent and i20 and serves as a major production base out of the seven plants Hyundai operates out of South Korea,” said Rakesh Srivastava senior vice president (marketing & sales) of Hyundai Motor India.