Automakers in India had rejoiced about their export sales figures in the last quarter of the calendar year 2009 due to the scrappage scheme launched by several European countries. Small car sales had seen a surge in the figures but things have been slow as the scheme came to an end. Now the auto makers in India are eyeing newer markets to keep up their export sales figures.
The new emerging markets for auto makers are Latin America, Australia, Africa, Saudi Arabia and New Zealand. “The European countries had announced several stimulus packages under the scrappage incentive scheme. Some have been withdrawn and some are expected to be withdrawn in the near future. Exports have not improved much in Europe. And we are now looking at newer destinations like Australia, New Zealand to even Latin America,” said Arvind Saxena, senior V-P (marketing & sales), Hyundai Motor India Limited.
But this does not keep Indian car makers from exploring opportunities in Europe as well. With economic resurgence in most of the countries, car makers like Tata and Mahindra are keeping their eyes open for upcoming opportunities for demand in bigger cars and newer models.
According to Ravi Kant, MD, Tata Motors, the company has nearly seven to eight models planned for the UK market first. It will also venture into the American markets thereafter. Mahindra already has its plans on track to introduce the international model of Mahindra Scorpio in the US market later this year. The new model of SUV Scorpio has been heavily re-engineered to suit the US market and customer tastes. It is also working on plans to venture in Europe starting from the UK market.
