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Time of India
7 days ago
- Automotive
- Time of India
Japan enters top five export markets for India-made cars
NEW DELHI: Japan has become one of the top five destinations for Indian car exports for the first time in FY25, signaling growing global demand for vehicles manufactured in India, even from advanced markets. Major Indian exporters like Suzuki Motor Corp and Honda Motor Co's local units are increasingly using India as a global production base. According to commerce ministry data compiled by SIAM, car exports to Japan jumped to $616.45 million in the first nine months of FY25, up from $220.62 million in all of FY24. Although official data for the March quarter is still awaited, industry sources expect exports to Japan to grow further, especially after Maruti Suzuki began shipping its Jimny SUV to the country in January. "Over decades, we have built a base in quality, cost, efficiency and technology in car manufacturing. This has given us volumes and economies of scale," senior executive officer at Maruti Suzuki India, Rahul Bharti told the Economic Times. He further noted that the company plans to export large number of e Vitara electric SUVs, produced in India, to European markets and Japan. Japan, a significant automobile manufacturer and exporter, shipped 5.12 million vehicles in 2024. Honda Cars India exported 45,167 units of SUV Elevate, predominantly to Japan, surpassing its domestic sales of 22,321 units. Maruti Suzuki offers SUVs Fronx and Jimny in Japan. Significantly, Suzuki temporarily suspended new Jimny five-door bookings due to overwhelming post-launch demand, receiving approximately 50,000 orders within four days in Japan. "Indian OEMs have been not only expanding into key markets such as Africa and Latin America but are also beginning to enter developed markets (like Japan) with globally competitive models," Shailesh Chandra, president, Society of Indian Automobile Manufacturers said. In the two-wheeler sector, Yamaha intends to begin exporting premium motorcycles to Japan soon. Itaru Otani, chairman, Yamaha Motor India Group, stated, "The sourcing cost, the labour cost, is quite low in India compared to other countries." "We are exporting nearly a third of our output to 58 countries already. We started exports to Europe from India at the end of last year. The next step is to ship to other advanced markets like Japan and the US," Otani added. India's automobile exports increased by 15% to 770,364 vehicles last fiscal year, significantly outperforming domestic sales growth of 2% at 4.3 million vehicles. While compact passenger vehicles constitute over 27% of exports, measuring up to 4 metres in length and up to 1.4-litres, compact SUVs of similar dimensions are gaining prominence. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
26-05-2025
- Automotive
- Time of India
Japan makes it to top five markets for India-made cars
Japan emerged one of the top five export destinations for Made-in-India cars for the first time in the last fiscal year, underscoring steadily growing global acceptance of cars built in the country, including developed markets. Key Indian exporters include the local units of Suzuki Motor Corp and Honda Motor Co , seeking to increasingly leverage the country as a production hub. Vehicle shipments to Japan rose to $616.45 million in the first nine months of FY25, from $220.62 million in FY24, showed commerce ministry data, collated by SIAM. Globally Competitive Models The Indian government is yet to release detailed data for vehicle exports and imports for the March quarter. However, industry insiders expect the trend to accelerate given that Maruti Suzuki began exporting the Jimny SUV to Japan this January. 'Over decades, we have built a base in quality, cost, efficiency and technology in car manufacturing. This has given us volumes and economies of scale,' said Rahul Bharti, senior executive officer at Maruti Suzuki India, adding that going ahead, the company would also export a 'large number' of e Vitara electric SUVs , manufactured in India, to the developed markets of Europe and Japan. Japan is itself a major carmaker and top exporter, shipping out 5.12 million vehicles in 2024. While Honda Cars India exported 45,167 units of SUV Elevate — mostly to Japan — more than double of the 22,321 units it sold in the local market, Maruti Suzuki has on sale SUVs Fronx and Jimny in the country. Notably, parent Suzuki had to initially pause fresh bookings for the Jimny five-door due to higher-than-expected demand post launch. The car secured around 50,000 orders within four days of launch in Japan. 'Indian OEMs have been not only expanding into key markets such as Africa and Latin America but are also beginning to enter developed markets (like Japan) with globally competitive models,' said Shailesh Chandra, president, Society of Indian Automobile Manufacturers. Kunal Behl, vice president, Honda Cars India said the company aims to establish India as a 'key export hub in its business globally'. While the proportion of exports is likely to remain at about 30%, absolute volumes will rise over the next few years as the company's total volumes grow on the back of new model introductions in India. In the two-wheeler segment, Yamaha is planning to shortly commence exports of premium motorcycles to Japan. Itaru Otani, chairman, Yamaha Motor India Group, said, 'The sourcing cost, the labour cost, is quite low in India compared to other countries.' 'We are exporting nearly a third of our output to 58 countries already. We started exports to Europe from India at the end of last year. The next step is to ship to other advanced markets like Japan and the US,' said Otani. Overall, India's car exports grew by 15per cent to 770,364 vehicles last fiscal, widely outperforming a 2per cent rise in domestic sales at 4.3 million vehicles. While more than 27per cent of vehicles exported are compact passenger cars — measuring up to 4 metres in length and up to 1.4-litres — the share of compact SUVs — also up to 4 metres in length — are on the rise. Compact SUVs fare well Chandra said exports of compact SUVs are performing well, currently comprising more than a quarter of total exports. 'There is also a steady demand of mid-sized passenger cars having engines up to 1.6-litre, constituting about 20per cent of the share of PV exports,' he said, adding exports of utility vehicles — of 4-4.4 metre length — have also risen significantly with a more than 18per cent share of overall exports, 'As an industry, we would closely monitor global geopolitics and would leverage any opportunities that exist in enhancing exports,' Chandra said. On their part, passenger vehicle makers have set an ambitious aim of doubling car exports to 30per cent over the next five years.
Economic Times
26-05-2025
- Automotive
- Economic Times
Japan makes it to top five markets for India-made cars
Vehicle shipments to country at $616 million in first nine months of FY25 against FY24's $221 million NEW DELHI: Japan emerged one of the top five export destinations for Made-in-India cars for the first time in the last fiscal year, underscoring steadily growing global acceptance of cars built in the country, including developed markets. Key Indian exporters include the local units of Suzuki Motor Corp and Honda Motor Co, seeking to increasingly leverage the country as a production hub. Vehicle shipments to Japan rose to $616.45 million in the first nine months of FY25, from $220.62 million in FY24, showed commerce ministry data, collated by SIAM. Globally Competitive Models The Indian government is yet to release detailed data for vehicle exports and imports for the March quarter. However, industry insiders expect the trend to accelerate given that Maruti Suzuki began exporting the Jimny SUV to Japan this January. 'Over decades, we have built a base in quality, cost, efficiency and technology in car manufacturing. This has given us volumes and economies of scale,' said Rahul Bharti, senior executive officer at Maruti Suzuki India, adding that going ahead, the company would also export a 'large number' of e Vitara electric SUVs, manufactured in India, to the developed markets of Europe and Japan. Japan is itself a major carmaker and top exporter, shipping out 5.12 million vehicles in 2024. While Honda Cars India exported 45,167 units of SUV Elevate — mostly to Japan — more than double of the 22,321 units it sold in the local market, Maruti Suzuki has on sale SUVs Fronx and Jimny in the country. Notably, parent Suzuki had to initially pause fresh bookings for the Jimny five-door due to higher-than-expected demand post launch. The car secured around 50,000 orders within four days of launch in Japan.'Indian OEMs have been not only expanding into key markets such as Africa and Latin America but are also beginning to enter developed markets (like Japan) with globally competitive models,' said Shailesh Chandra, president, Society of Indian Automobile Behl, vice president, Honda Cars India said the company aims to establish India as a 'key export hub in its business globally'. While the proportion of exports is likely to remain at about 30%, absolute volumes will rise over the next few years as the company's total volumes grow on the back of new model introductions in India. In the two-wheeler segment, Yamaha is planning to shortly commence exports of premium motorcycles to Japan. Itaru Otani, chairman, Yamaha Motor India Group, said, 'The sourcing cost, the labour cost, is quite low in India compared to other countries.''We are exporting nearly a third of our output to 58 countries already. We started exports to Europe from India at the end of last year. The next step is to ship to other advanced markets like Japan and the US,' said India's car exports grew by 15% to 770,364 vehicles last fiscal, widely outperforming a 2% rise in domestic sales at 4.3 million vehicles. While more than 27% of vehicles exported are compact passenger cars — measuring up to 4 metres in length and up to 1.4-litres — the share of compact SUVs — also up to 4 metres in length — are on the rise. COMPACT SUVS FARE WELL Chandra said exports of compact SUVs are performing well, currently comprising more than a quarter of total exports. 'There is also a steady demand of mid-sized passenger cars having engines up to 1.6-litre, constituting about 20% of the share of PV exports,' he said, adding exports of utility vehicles — of 4-4.4 metre length — have also risen significantly with a more than 18% share of overall exports,'As an industry, we would closely monitor global geopolitics and would leverage any opportunities that exist in enhancing exports,' Chandra their part, passenger vehicle makers have set an ambitious aim of doubling car exports to 30% over the next five years.
Yomiuri Shimbun
18-05-2025
- Automotive
- Yomiuri Shimbun
Suzuki Motor's Boil-in-the-Bag Curry to Hit Store Shelves; Recipe Popular Among Indian Employees at Company Cafeteria
The Yomiuri Shimbun A package of Suzuki Motor Corp.'s brown chickpea masala curry HAMAMATSU — A boil-in-the-bag version of the vegetarian curry developed for Indian employees of Suzuki Motor Corp. in Hamamatsu soon will hit store shelves. Suzuki, which employs many people from India, jointly developed authentic Indian vegetable curry for the company cafeteria with Torizen, a local company which operates restaurants and wedding halls in Hamamatsu. The curry has won favor among Indian employees who said it tastes like the cooking in their home country. Therefore, Suzuki decided to produce and sell boil-in-the-bag versions. Four different varieties of curry will go on sale, which are made with beans and other vegetables to suit the demands of people from India, where there are many vegetarians. One of the Suzuki curry varieties — brown chickpea masala curry — was given as a gift to guests at the memorial gathering for Osamu Suzuki, the former Suzuki chairman who passed away in December. The packages for the curry soon to go on sale will be adorned with illustrations of Suzuki vehicles, such as a Jimny four-wheel-drive car and a motorbike. 'Osamu Suzuki would often say India was his second home country. I hope many people will appreciate the authentic taste [of our Indian curry],' said a Suzuki employee. Suzuki Motor's curry for Indian employees to hit store shelves
Mint
13-05-2025
- Automotive
- Mint
Asian shares gain after Wall Streets rally, but hopes tempered by trade war uncertainties
Hong Kong, Asian shares advanced Tuesday after China and the United States announced a 90-day truce in their trade war, but the gains were tempered by uncertainties over the longer term, as analysts warned President Donald Trump's policies could still quickly change. The United States and China said in a joint statement that it will cut tariffs on Chinese goods to 30% from as high as 145%. China, meanwhile, said its tariffs on US goods will fall to 10% from 125%. The 90-day pause gives time for more talks following the weekend's negotiations in Geneva, Switzerland, which the US side said yielded ' substantial progress.' The outcome surpassed most expectations, reassuring investors," said Stephen Innes of SPI Asset Management. 'Make no mistake, this was highly stage-managed diplomacy. But the optics are good and the implications real. It signals that even this administration recognizes the economic drag of unrelenting tariffs,' he said in a commentary. Tokyo's Nikkei 225 jumped 1.8% to 38,326.37. Automakers were among the big gainers, with Toyota Motor Corp. up 3.7% and Suzuki Motor Corp. 4.6% higher. Nissan Motor Co added 3.2% after Japan's national broadcaster NHK said it plans to lay off more than 10,000 of its workers, raising the total to 20,000, as part of its restructuring efforts. The company was due to announce its financial results for the last fiscal year later Tuesday. The Kospi in South Korea gained 0.2% to 2,612.30. Hong Kong's Hang Seng, which gained 3% a day earlier after Chinese and US officials announced the agreement to pause tariffs and reduce them, fell 0.7% to 23,374.06 on heavy selling of technology shares. The Shanghai Composite index edged 0.2% higher to 3,374.93. Taiwan's Taiex jumped 1.9%. Australia's S&P/ASX 200 climbed 0.6% to 8,281.40. On Monday, the world's two largest economies agreed to take down temporarily most of their tariffs against each other. The S&P 500 shot up 3.3% to pull back within 5% of its all-time high set in February. It's been roaring higher since falling nearly 20% below the mark last month on hopes that President Donald Trump will lower his tariffs after reaching trade deals with other countries. Closing at 5,844.19, the index at the heart of many 401 accounts is back above where it was on April 2, Trump's 'Liberation Day,' when he announced stiff worldwide tariffs that ignited worries about a potentially self-inflicted recession. The Dow Jones Industrial Average jumped 1,160 points, or 2.8%, to 42,410.10. The Nasdaq composite surged 4.3% to 18,708.34. A global economy less burdened by tariffs will likely burn more fuel, so the agreement to scale back tariffs by more than what many investors expected also boosted oil prices. But early Tuesday, they fell back. US benchmark crude oil lost 6 cents to $61.89 per barrel. Brent crude, the international standard, shed 8 cents to $64.88 per barrel. The value of the U.S. dollar strengthened against everything from the euro to the Japanese yen to the Swiss franc. And Treasury yields jumped on expectations that the Federal Reserve won't have to cut interest rates as deeply this year as earlier expected. Early Tuesday, the dollar was trading at 147.98 Japanese yen, down from 148.47 yen. But it gained against the euro, climbing to $1.1101 from $1.088. The move announced Monday could add 0.4 percentage points to the U.S. economy's growth this year, according to Jonathan Pingle, US chief economist at UBS. The US economy shrank at a 0.3% annual rate in the first three months of the year. Big challenges remain in the negotiations between Beijing and Washington. to finalize all the details. But many Asian countries have yet to negotiate tariff-alleviating deals of their own. The US-China pause followed a deal the United States announced last week with the United Kingdom that will bring down tariffs on many U.K. imports to 10% but will still require weeks Economic reports scheduled for later this week, including on inflation and sentiment among U.S. consumers, could show how much damage to the economy has been inflicted by the uncertainty over tariffs. Many retailers rose because much of what they sell comes from China and elsewhere in Asia. Best Buy jumped 6.6%, and Amazon rallied 8.1%. Smaller US companies whose livelihoods depend more on the strength of the U.S. economy than their bigger rivals saw strong gains, with the Russell 2000 index jumping 3.4%. Apparel companies that source much of their supplies from China also gained. Lululemon leaped 8.7% and Nike rose 7.3%. Travel companies jumped on hopes that lower tariffs would encourage more customers to feel comfortable enough to spend on trips. Carnival rose 9.6%, and Delta Air Lines climbed 5.8%. NSA NSA This article was generated from an automated news agency feed without modifications to text.
