India records robust 15.5% growth in automobile exports for April-June quarter: SIAM data

Siam President said it is a good sign for the industry that exports have started doing well

July 15, 2024

Vehicle exports rise to 11,92,577 units from 10,32,449 in last year’s quarter: SIAM

India’s automobile exports clocked a robust 15.5 percent growth in the April-June quarter of the current financial year compared to the same period in the previous year, according to data compiled by the Society of Indian Automobile Manufacturers (SIAM).

The overseas shipments of vehicles were estimated at 11,92,577 units, up from 10,32,449 units in the same quarter last year.

Exports of passenger vehicles rose by 19 percent to 1,80,483 units from 1,52,156 units in the previous year.

Two-wheeler exports also posted a double-digit increase of 17 percent, with overseas shipments of 9,23,148 units in the first quarter, compared to 7,91,316 units in the same period last year.

The exports of commercial vehicles rose by 8 percent during the quarter with shipments estimated at 15,741 units during the quarter up from 14,625 units last year.

However, there was a three percent decline in three-wheeler exports at 71,281 units during the quarter compared to 73,360 units last year.

Market leader Maruti Suzuki India accounted for the highest exports with 69,962 vehicles during the quarter, up from 62,857 units in the same period last year. Maruti’s arch-rival Hyundai Motor India was ranked second with exports of 42,600 units, up from 35,100 units in the same quarter of the previous year.

SIAM President Vinod Aggarwal said it is a good sign for the industry that exports have started doing well.

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