At a time when global auto majors are struggling, carmakers in India have been able to expand their overseas presence with exports from the country registering as much as 57.04 per cent growth in the last fiscal.
According to the figures released by the Society of Indian Automobile Manufacturers (SIAM), passenger car exports from India touched 3,31,539 units in FY09 as against 2,11,112 units in the previous financial year.
The country's largest exporter, Hyundai Motor India, witnessed an export growth rate of 63 per cent at 2,35,345 units compared with 1,44,440 units in the year-ago period.
Domestic market leader Maruti Suzuki India was a distant second, registering 32.58 per cent growth in overseas sales at 68,834 units in 2008-09 as against 51,916 units in the previous fiscal.
Overall vehicle exports from India grew by 23.60 per cent at 15,30,660 units in the last financial year, while the same stood at 12,38,333 units in the previous fiscal, SIAM said.
Exports growth in the last financial year was robust also in the two-wheeler category, which registered 22.50 per cent rise at 10,04,174 units as against 8,19,713 units in the previous financial year.
The surge in two-wheeler exports was led by Honda Motorcycle & Scooter India (HMSI), TVS Motor Company and Bajaj Auto Ltd (BAL), with the sale of their motorcycles.
While HMSI's exports grew by 68.83 per cent at 41,769 units, TVS and BAL witnessed jumps of 55.07 per cent and 31.09 per cent at 1,77,993 units and 6,31,383 units respectively in their overseas sales, SIAM said.
Domestic market leader Hero Honda, however, saw its bike exports decline by 11.38 per cent at 78,176 units against 88,219 units in the previous fiscal.
Scooter and three-wheeler exports rose by 1.51 per cent and 4.84 per cent at 25,865 units and 1,48,074 units respectively in the last fiscal over the previous fiscal, SIAM said.
