India's calibrated trade engagement with the United States and the European Union is set to strengthen the country's auto component exports and support its emerging battery and advanced manufacturing ecosystem, Heavy Industries Minister HD Kumaraswamy said today.
According to industry sources on Wednesday, the Korea Automobile & Mobility Industry Association estimates annual car exports at around 2.71-2.72 million units, down about 2.3 to 2.6 per cent from last year's 2.782 million units.
Japanese cars could end up being sold at lower prices than South Korean cars such as Hyundai Motor Co. in the American market when U.S. tariffs on Japanese automobiles drop from 27.5 percent to 15 percent on Tuesday.
Indian auto component manufacturers have a huge opportunity to expand their exports, especially in the independent aftermarket segment, according to a report by EY-Parthenon.
South Korea's automobile exports declined in April year on year, largely due to a sharp drop in shipments to the United States following Washington's imposition of steep tariffs on foreign-made cars, reports the Korean Herald, quoting government data.
Mumbai (Maharashtra) [India], June 1 (ANI): Tata Motors Limited said on Wednesday its total sales surged by 186 per cent year-on-year to 76,210 vehicles in May 2022 as compared to 26,661 units sold in the same month last year.