Kia becomes India’s 5th largest car exporter during April-December 20201 min read . Updated: 26 Jan 2021, 06:09 PM IST
Kia is expected to become the fourth largest PV exporter in January 2021 dethroning General Motors.
Kia Motors has pipped the German automobile Volkswagen to become India’s 5th largest car exporter during April-December 2020 period. Kia Seltos has shipped 25,366 units in the same period, registering a 103% growth, from 12,496 units exported during April-December 2019.
(Also Read: Kia Seltos, Sonet to don new brand logo by mid-2021)
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The South Korean auto manufacturer that has tasted success with its products like Seltos and Sonet in the domestic market, despite being a new entrant has seen both these models charting at the top of the respective segments, despite fierce competition.
With General Motors all set to exit India operations, Kia would become the fourth largest exporter in the passenger vehicle segment in January 2021. Currently, Hyundai’s sibling brand ships made-in-India Seltos to more than 70 countries across the world.
When it came to exports, Kia shipped 28,520 units during the first three-quarter of FY21, contributing 9.8% of the total passenger vehicle exports volume from India.
Kia Motors in the same period in CY2019 exported 12,496 units of passenger vehicles. The automaker recorded a 128.2% YoY growth in the corresponding period of 2020. In 2019, Kia’s market share in total PV exports was 2.3%.
Among the other carmakers, Hyundai and Maruti Suzuki were the top two exporters during April-December 2020. While Hyundai shipped 74,021 units during the same period, Maruti Suzuki exported 59,821 units. Hyundai held the lion’s share of the total export pie with 25.5%, recording a 1.4% decline from 26.9% recorded in the same period of 2019.
Overall, passenger vehicle exports registered a YoY decline of 46.1% in April-December 2020 period, with 2,90,453 units shipped, as compared to 5,38,733 units sent to the overseas market in the corresponding period in 2019. Maruti Suzuki has been one of the biggest gainer with its exports ramped up rapidly.