Tata and Mahindra are not huge export players in India just yet. On the other hand, this segment is led by Maruti Suzuki and Hyundai. Together, they contributed around 66% of the total cars exported (around 650,000) from India to various markets across the globe in this fiscal year. Interestingly, the next three auto giants on this list of the top exporters from India are Kia, VW and Nissan. Their contributions are 9%, 7% and 6%, respectively. Even though Mahindra and Tata have experienced increased sales in the international markets recently, the overall share is still lacking at 2% and 0.4%, respectively.
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Tata and Mahindra Export Numbers
Both these carmakers have showcased exponential growth in their domestic sales. That could form the basis for its future export operations in the immediate future. Mr. VG Ramakrishnan, Managing Partner at Avanteum Advisors said, “Indian companies like Tata Motors and Mahindra & Mahindra (M&M) have been trying to scale up exports for many years now. However, they did not have the right products for international markets, where customers are very discerning about quality, specifications, and brand commitments. Even in a market like Sri Lanka, where a lot of used cars are sold, buyers look for right-hand drive models from Japan which have more features. Their share (in exports) may be still low. But overseas sales are slowly improving.”
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That explains why Tata and Mahindra cars were not popular in global markets in the past. However, with their latest products, they are ready to compete against the top carmakers in the world with their high-quality products at attractive prices. Mr. Rajesh Jejurikar, Executive Director and CEO, of Automotive and Farm Equipment at Mahindra and Mahindra commented, “Our aim is to scale international operations revenue by 2.5x by FY26 and further onward. We are making products that can compete with the best in the world, at prices which are affordable. We believe that our products have reached a stage of maturity where we can go and start competing around the world.” He adds, “We think exports will be a lever for growth.”
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Maruti Suzuki India Limited Chairman, R C Bhargava also said, “Today, made-in-India cars are on a par with the world. Our quality is second to none. Toyota and Suzuki are both placing orders (for exports). They have distribution channels globally and are leveraging them, helping us boost international sales.”
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Author’s Note
Maruti Suzuki aims to ramp up its production capabilities to 4 million units by 2030. Out of these, over 3 million will be for the domestic market, and around 800,000 will be for exports. Similarly, Hyundai also plans to increase its exports after its second factory at Talegaon becomes operational next year. Therefore, the government is encouraging carmakers to ensure that India becomes a global hub for automotive exports in the future. With high-quality cars manufactured in India, even the Indian players can join the fray soon.
