The
Indian economy has been witnessing one of the most severe slowdowns in
several years. During the April-June 2013 quarter, India's GDP increased
merely by 4.4%. This is the slowest growth rate since 2009. The
slowdown in the economy coupled with high fuel prices and interest rates
have had an adverse impact on the growth of the Indian auto industry.
In a bid to beat the slowdown blues, auto makers have been focussing on the overseas markets to boost exports. In addition, the foreign currency earnings would also help hedge higher cost of imports due to the depreciating rupee. The chart of the day shows the top 5 auto makers with the highest exports in terms of unit sales. These auto makers have reported robust year-on-year growth in their export sales.
In a bid to beat the slowdown blues, auto makers have been focussing on the overseas markets to boost exports. In addition, the foreign currency earnings would also help hedge higher cost of imports due to the depreciating rupee. The chart of the day shows the top 5 auto makers with the highest exports in terms of unit sales. These auto makers have reported robust year-on-year growth in their export sales.
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| Data source: Mint |
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