Automobile exports from India increased by 15.5% in the June quarter compared to the same period last year, according to SIAM data. Total shipments reached 11,92,577 units in the first quarter of the current fiscal year, up from 10,32,449 units in the same period last year.
Passenger vehicle exports rose by 19% to 1,80,483 units, up from 1,52,156 units last year. Maruti Suzuki India led the exports with 69,962 units, followed by Hyundai Motor India with 42,600 units. Two-wheeler exports increased by 17% to 9,23,148 units, compared to 7,91,316 units last year.
Commercial vehicle shipments grew by 8% to 15,741 units, up from 14,625 units last year. Three-wheeler shipments, however, dropped by 3% to 71,281 units, down from 73,360 units last year.
SIAM President Vinod Aggarwal shared his positive outlook on the rise in exports, pointing out that it signals a recovery, particularly in the commercial vehicle sector. He mentioned that there had been a significant decline in exports before, but the first quarter of this fiscal year has seen encouraging growth in both two-wheelers and passenger vehicles.
Last year, there was a big drop in the export volume of trucks and buses. However, Aggarwal is positive that exports are starting to recover, with good results in Q1 for two-wheelers and passenger vehicles. Automobile exports from India had declined by 5.5% in FY24 due to financial issues in overseas markets. Total exports were 45,00,492 units last fiscal year, compared to 47,61,299 units in FY23.
