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Car Exports Grow by 56%! FullThrottle.in, Oct. 21, 2008
High interest rates and the financial meltdown may have led people to abstain for going auto shopping in the country, but exports seems to have been unaffected by the adverse conditions as they have recorded a 56% growth in the first half of 2008-09.

India in recent times has become a major hub for manufacturing small cars, owing to the tax sops on them, and with the demand for hatchbacks growing at a steady pace globally; things are only bound to get better.

Out of 1.54 lakh units exported in the period April-September as compared to 99,266 units exported in the same period in the previous year, Hyundai Motors alone shipped out 1.20 lakh cars! While the company exports cars to 90 countries, the i10 hatchback dominated the number of units exported and the export figure seems to be on the verge of a major surge with the intended launch of the i20 next month.

Maruti Suzuki India (MSI) has seen its exports grow by 25% in the first half but trails Hyundai Motors by quite a margin. As against 23,750 units exported for the period April-September 2007-08, the current year saw them shipping out 29,698 units in the same period. Like Hyundai, Maruti Suzuki’s exports are also set to jump manifold with the introduction of the A-star in Europe next year.

Tata Motors though has had a poor year when talking of exports, as it has witnessed a 43.6% downfall. It shipped out only 3,972 units in the period of April-September of this year as compared to 7,043 units last year for the same period.
 
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