The recent decline in car sales due to escalating fuel prices, rising interest rates and climbing input costs had badly hit the Indian car industry. All the car manufacturers were deprived of a successful smile and were forced to cut down their profit margins and push car sales at a lower cost. One after the other, some or the other bad news was swirling around the industry.
But now…that’s enough!
Though the domestic car sales have declined, Indian car exporters are relishing the ear. The weakening of rupee from Rs. 40 to Rs 46 in the current fiscal year has brought some smile on faces of car exporters. With the falling down of rupee, exporters like Hyundai Motor India and Maruti Suzuki are revising their export targets and exploring various overseas markets. This will definitely give them an opportunity to regain the lost smile.
Will the effort of revising export targets be beneficial? Or will the car manufacturers still stay in a negative terrain?
Labels: Car-Manufacturers, Hyundai-Motors, Indian-Car, Maruti-Suzuki
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