New Delhi, Automobile exports from India grew 19 percent to over 53 lakh units in FY24-25 on the back of strong demand for passenger vehicles, two-wheelers and commercial vehicles in overseas markets.
Total exports stood at 53.63 lakh (53,63,089) units in the previous fiscal as against 45 lakh (45,00,494) units in FY23-24 ending March 31, 2024.
Passenger vehicle shipments grew 15 percent to 7,70,364 units in FY24 as against 6,72,105 units in the previous fiscal.
The segment recorded its best ever annual performance in the last fiscal on the back of demand for global models manufactured in India, industry body SIAM said.
With the improvement in manufacturing quality, some companies have also started exporting to developed markets.
Utility vehicle dispatches led the sector with dispatches of 3,62,160 units, a growth of 54 per cent as compared to 2,34,720 units in FY24.
Two-wheeler exports grew 21 percent to 41,98,403 units in the previous fiscal as against 34,58,416 units in FY23-24.
New models and new markets have helped expand the scope of two-wheeler exports, SIAM said.
Also, economic stability in the African region and demand in Latin America have supported this growth.
Three-wheeler exports grew 2 percent to 3.1 lakh units in FY24-25 as compared to FY23-24.
Commercial vehicle exports grew 23 percent to 80,986 units in the last fiscal as against 65,818 units in the same period last year.
SIAM said export demand is expected to continue in key markets such as Africa and neighbouring countries as the trend of ‘Made in India’ vehicles is growing.
SIAM President Shailesh Chandra said, “On the export front, all segments, especially passenger vehicles and two-wheelers, have witnessed a good recovery, reflecting improving global demand and India’s increasing competitiveness.”
Automobile exports from India gain 19 per cent to over 53 lakh units in FY25: SIAM
