New Delhi, July 26: Buoyed by good performance of two-wheeler companies, particularly Bajaj Auto, automobile exports have notched a 2 per cent growth in the first quarter of the fiscal despite turbulent international markets and recession-hit domestic market.The automobile industry exported 35,611 units in the first three months of fiscal 1998-99, against 34,871 units in the same period of 1997-98, up 2.12 per cent, according to the Association of Indian Automobile Manufacturers (Aiam).
Bajaj Auto displayed all-round buoyancy in exports in the three months by registering a 15.52 per cent growth in scooter segment, 54.4 per cent in motorcycle segment, a whopping 199.83 per cent in moped segment and a 18.26 per cent growth in three-wheeler exports.
Flagship company of the Tata group, Telco, suffered reverses in exports of its heavy commercial vehicles (HCV) but minimised it by selling more light commercial vehicles (LCV) this year as against last fiscal.
HCV sales grew 6.63 per cent to 402 unitslargely due to the 37.6 per cent increase in exports of Hinduja flagship company Ashok Leyland. Exports of Telco HCVs went down by 26.22 per cent, the figures indicated. Telco's 25.7 per cent growth in LCV exports helped the segment grow by about 13 per cent. Telco accounted for 73 per cent of the 1,323 LCVs sold in these three months. In this segment, Ashok Leyland suffered large losses as its exports declined by over 45 per cent, Aiam figures said.
Like the depressed domestic car market, passenger-car exports too went down by 11.7 per cent in the first-quarter despite the largest exporter Maruti Udyog, which controlls 89.5 per cent of all car exports, registering a 1.5 per cent growth.
A total of 4,480 cars were exported in the period by Maruti Udyog, Mercedes Benz and Telco put together.
Multi-utility vehilces' (MUV) exports also declined 12.6 per cent in the period owing to a 42 per cent fall in exports of Mahindra and Mahindra and a 23 per cent decline in Maruti's exports of Gypsy.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.