Working Vehicle exports from India have increased by 14 percent on an annual basis in the first half of the financial year (2024-25). Total exports have increased mainly due to increase in the consignment of passenger vehicles and two-wheelers. This information has been received from the data of Society of Indian Automobile Manufacturers (SIAM), an organization of vehicle manufacturers. According to SIAM data, India’s vehicle exports rose 14 percent to 25,28,248 units in April-September from 22,11,457 units in the year-ago period.
There was improvement in these markets
SIAM Chairman Shailesh Chandra said, “Markets like Latin America and Africa, where there was slowdown due to some reason or the other, the situation has now improved. Due to this the export figures have increased.” Various African countries and other regions had to face challenges due to the devaluation of currencies. This affected their vehicle imports, as these countries were focusing on importing essential goods. Vehicle exports had declined by 5.5 percent in FY 2023-24 due to monetary crisis in various foreign markets. Total exports in the last financial year were 45,00,492 units, while in 2022-23 it was 47,61,299 units.
Maruti Suzuki on top
Total passenger vehicle exports in the first half of the current financial year increased by 12 percent year-on-year to 3,76,679 units, while the figure stood at 3,36,754 units in the same period of financial year 2023-24. The country’s largest car maker Maruti Suzuki topped the list with exports of 1,47,063 units. The company’s exports have increased by 12 percent. In the same period a year ago, the company had exported 1,31,546 vehicles. Hyundai Motor India exported 84,900 vehicles in the first half of the current financial year as against 86,105 units in the April-September period of the previous 2023-24. This is a decline of one percent.
Two-wheeler exports increased by 16%
In the April-September period of the current financial year, exports of two-wheelers increased by 16 percent year-on-year to 19,59,145 units, compared to 16,85,907 units in the same period a year ago. During the period under review, scooter exports increased by 19 per cent to 3,14,533 units, while motorcycle exports increased by 16 per cent to 16,41,804 units. Exports of commercial vehicles increased 12 percent year-on-year to 35,731 units in the first six months of the financial year. However, exports of three-wheelers during this period declined by one per cent to 1,53,199 units, compared to 1,55,154 units in the same period of FY 2023-24.
