Two-wheeler, three-wheeler and passenger vehicle exports from India declined by 35 percent in February. The main reason for this is the weakness of the currencies of the destination countries especially in the continent of Africa in comparison to the US dollar. According to data from industry body Society of Indian Automobile Manufacturers (SIAM), two-wheeler passenger vehicle and three-wheeler passenger vehicle exports declined to 3,01,561 units last month, from 4,63,025 units in February 2022.

According to these figures, 3,75,689 two-wheelers were exported in February 2022, which decreased by 37 percent to 2,35,087 units in February this year. Apart from this, motorcycle exports in February have been 2,01,097 units, which was 3,49,221 units in February last year. However, scooter exports increased to 33,378 units in February this year as compared to 24,830 units last year.

Total exports of three-wheeler vehicles fell by 45 percent to 19,640 units as compared to 35,997 units in February 2022. Apart from this, the total export of passenger vehicles has fallen by nine percent to 46,486 units from 51,213 units in February last year. In this, the export of passenger cars was 25,207 units, which was 33,515 units last year.

SIAM Director General Rajesh Menon told ‘PTI-Bhasha’, “For the last few months, there is a decline in exports of two-wheeler, three-wheeler and commercial vehicles because the currency of many places, especially in Africa and other developing countries.” There has been devaluation.

He said that these countries are facing problems regarding the availability of foreign funds, due to which the sale of vehicles is being limited and the countries are paying more attention to the import of essential goods. However, there is a demand for vehicles from the consumers in these markets.