Exports of vehicles increased by 14 percent

New Delhi| Exports of vehicles from the country increased by 14 per cent year-on-year to 25,28,248 units in the first half of the current financial year (April-September). Exports in passenger and two-wheelers have increased rapidly. A total of 22,11,457 vehicles were exported in the same period a year ago.

According to data from the Society of Indian Automobile Manufacturers (SIAM), a total of 3,76,679 passenger vehicles were exported in April – September. This figure is 12 per cent higher than a year ago. Exports of two-wheelers increased by 16 per cent year-on-year to 19,59,145 units. Among these, exports of scooters registered a rise of 19 per cent and motorcycles by 16 per cent. Exports of commercial vehicles increased by 12 per cent, reaching 35,731 units. However, exports of three-wheelers declined by one per cent to 1,53,199 units.

SIAM President Shailesh Chandra said, in markets like Latin America and Africa where there was slowdown due to some reason or the other, the situation has now improved. Because of this there has been a surge in exports. Along with this, if we talk about this year’s performance of Maruti Suzuki, then in the first half of the current financial year, Maruti Suzuki remained on top with the export of 1,47,063 vehicles. The company’s exports have grown by 12 per cent. However, Hyundai Motor India’s exports declined by one percent to 84,900 units.

Vehicle exports had fallen by 5.5 per cent during 2023-24 due to the monetary crisis in various overseas markets. A total of 45,00,492 vehicles were exported during this time, compared to 47,61,299 in 2022-23.