Exports keep auto factories running
Chennai: It’s a tiny sliver of a silver lining for the automobile industry. Given that the domestic slowdown is part of a larger global slump in automobile sales, exports of passenger vehicles in the April-August period, continued to be positive, up just over 4% .
The sharp slowdown in the domestic market has freed up capacity for automakers to up their export game. Hyundai, has seen a nearly 21% increase in exports in the April-August period at 86,300 units. In contrast, the company’s domestic sales were down over 10% with August seeing a 16.5% drop. Maruti Suzuki saw its April-August domestic sales decline by 27% but exports