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Date: 25/04/2024

No impact seen on automobile export due to Iran-Israel conflict

There is not much impact on the shipments of automobile products to overseas markets due to the Iran-Israel conflict, as companies have already been taking other routes since the Red Sea crisis, said Mr Vinod Aggarwal, President, Society of Indian Automobile Manufacturers (SIAM). The impact was there, but it has been worked around. The lead time has gone up – earlier it used to be around eight weeks, but now it is around 10 weeks. He said exports are improving and two/three-wheelers have been performing better in the last quarter.  According to the latest data shared by SIAM, the overall export of vehicles across categories has gone up by 22.5% y-o-y to 11,68,015 units in the January-March quarter as compared to 9,53,332 units in the same period in FY22-23, said a report.
 
source: Exim News Service: New Delhi, April 24



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