Downfall in Rupee boosted up car exports in 2011

2011 saw a considerable downfall in the value of the rupee, and as a result, it was anticipated that this would hit and affect the export market of cars. Rather it turned out to be quite the other way round as the car export business of many bigwigs in the automobile industry such as Maruti Suzuki, Hyundai, Toyota, Nissan, have recorded an increase for year 2011. Though Maruti Suzuki took the whole year to recover from the losses they had to face in the past one year, it got left a little behind in the race. But after this considerable downfall Maruti Suzuki is trying its level-best to stand up once again as the most demanded automobile brand in India.

Although the losses suffered by Maruti Suzuki were massive, yet they are looking forward to regaining all the shares that they had lost in the market. In the coming months, Maruti Suzuki will be launching the newest version of A-Star, and it also plans to increase its production of diesel models by opening a diesel manufacturing power plant in Gurgaon very soon. The newest and highly upgraded version of Maruti Swift Dzire is also being anticipated in the market and has already attracted customers. This year Maruti Suzuki is looking forward to rolling out its MPV Ertiga onto the Indian roads. Now owing to the rupee downfall, Maruti Suzuki has astonishingly recorded escalating export demands and now plans to export the new Swift Dzire as well as its newly unveiled Ertiga MPV.

The head of Maruti Suzuki India, Shashank Srivastava, has given a brief count of the upcoming exports, and proudly announced that around 4500 bookings have already been finalized by dealers dealing in Maruti Suzuki abroad. These bookings have majorly been for its most demanding line-up of cars, consisting of Alto, A-Star, Zen Estilo, and Wagon R.
Over the last one year, due to the downfall of rupee, the exports of many prime automobile manufacturers soared to a considerable extent, and many companies reaped the benefit of this situation. According to experts, whenever there is a fluctuation in the currency, the automobile industry is vulnerable and can generate heavy profits by exports or vice versa. Last year car manufacturers reported approximately 16% boost in their export rate due to the fall of rupee.

Hyundai has been exporting its cars to its dealers based abroad since long and Ascent is one of the most demanding cars to be exported by the company. Along with that the newly launched Hyundai Eon and i10 have also benefited the company by meeting export demands on a grand scale.

Toyota, on the other hand, hopes to increase its export of Toyota Etios Liva and Toyota Etios Sedan into the global market. Nissan seems to be a veteran as it has been into export since a long time now. Nissan Micra failed to meet up to the export demands, and that is why the company now plans to export Sunny to other countries.

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