Automobile exports increase 14% YoY in H1FY25 buoyed by PVs, two-wheeler demand

According to data from the Society of Indian Automobile Manufacturers (SIAM), total exports during the April-September period reached 2,528,248 units, compared to 2,211,457 units in the same period last year. “Key markets in Latin America and Africa, which had previously slowed down for various reasons, have rebounded, contributing significantly to the increase in exports,” said SIAM President Shailesh Chandra, in response to inquiries about the recovery in vehicle exports. 

Several African nations and other regions faced challenges due to currency devaluation, which impacted vehicle shipments as these countries prioritised essential imports. 

In FY24, automobile exports declined by 5.5 percent due to monetary crises in various overseas markets, with total exports falling to 4,500,492 units from 4,761,299 units in FY23.  Passenger vehicle shipments rose by 12 percent year-on-year to 376,679 units in the first half of the current fiscal year, up from 336,754 units in the same quarter last year. 

The country’s largest vehicle manufacturer Maruti Suzuki led the segment with exports of 147,063 units, a 12 percent increase from 131,546 units a year earlier. In contrast, Hyundai Motor India exported 84,900 units, down 1 percent from 86,105 units in the previous year. 

Two-wheeler exports surged by 16 percent year-on-year to 1,959,145 units during the April-September period, compared to 1,685,907 units last year. Scooter shipments rose by 19 percent to 314,533 units, while motorcycle exports increased by 16 percent to 1,641,804 units. 

Commercial vehicle exports also saw a 12 percent increase, totalling 35,731 units in the first six months of the fiscal year. However, three-wheeler shipments declined by 1 percent to 153,199 units, down from 155,154 units in the April-September period of the previous fiscal year.