The US becomes the 3rd largest market for the Made in India cars in the year ending the previous month of March. The nation was not even in the top 80 market for Indian exported cars in the previous year. But according to the figures shown by the department of commerce, Government of India, with $65.4 crore worth of cars were exported in 2017-18.
The huge contribution in this was by the carmaker company Ford. They have started exporting their SUV Ecosport last year which is manufactured at their Chennai based plant.
The export value falls 3rd after Mexico with $1.69 billion and South Africa with $666 million. In the year 2016-17, the UK was the 3rd largest but this year, out of $7.1 billion export value, more than 9% was exported to the US.
US president Donald Trump has been pushing American carmakers to do more local manufacture. Ford India which is the sub-company of Ford Motor Company, has increased its Indian capacity to ramp up the several markets and the US is one of them. Ford beat the Korean carmaker Hyundai for the biggest car exporter from India.
Suppose, the value of the Ford Ecosport range between 7.8 lac to 11.8 lac. Consider the conservative average realization of 10 lac, then approx. 45,000 units of Ecosport were exported to the US market. Ford exported about 90,500 units of Ecosport to different market last year. The total units exported to by the industry is 747,287 in 2017-18.
If we take a glance at the numbers of the same for the first month of this year, April-18, the US ranked up on the 2nd with the export of $98 million from Indian carmakers. Hence US took place of the US for this period while Mexico retains its first.
That’s how the Indian manufactured cars are rocking the US market year by year..!