As per latest export data, Latin America has become the largest automotive export market of India leaving behind Africa. According to the data, 25 % of the value of vehicles were exported to Latin America by India in 2015 which was 21 % in the 2014. On the other hand, there has been a significant decline of export value to the African markets in the last 10 years.
Although the logistic costs are too high for transporting a vehicle from India to Latin America but the heavy incentives by the government under the ‘Make in India’ campaign have been an inspiration for manufacturers to carry on with export.
Volkswagen leads the auto exports record by selling around 63,000 vehicles to the Latin American markets. Hyundai has shipped over 49,000 cars to around 32 Latin countries and is the largest auto exporter from India. Chevrolet, Ford and Suzuki have also played a major role in high auto export records in Latin America.