Automobile exports from India grew by 22% year-on-year in the April–June quarter, according to data released by the Society of Indian Automobile Manufacturers (SIAM). The growth was driven by record shipments of passenger vehicles and a strong performance in segments such as two-wheelers and commercial vehicles.
As per the data, overall exports across all vehicle categories rose to 14,57,461 units in the first quarter of the current fiscal, up from 11,92,566 units during the same period last year.
Passenger vehicle exports touched an all-time high of 2,04,330 units in Q1, registering a 13% increase from 1,80,483 units in the corresponding quarter of the previous year. SIAM attributed the rise in passenger vehicle exports to stable demand in most global markets, particularly highlighting strong performance in regions such as the Middle East and Latin America.
Shailesh Chandra, President of SIAM, said, “The performance of the auto industry was relatively flat, though retail registrations for passenger vehicles, two-wheelers, and three-wheelers were marginally higher than in Q1 last year.”
“Overall sentiments across categories have remained subdued so far, even as the industry continues to navigate supply-side challenges. With the upcoming festive season, coupled with the benefits of RBI’s repo rate cuts, we expect consumer sentiments to improve,” he added.
Maruti Suzuki led the passenger vehicle export chart in Q1 with shipments of 96,181 units—up more than 37% from 69,962 units in the April–June quarter last year.
Two-wheeler exports climbed to 11,36,942 units during the quarter, a rise of 23% from 9,23,148 units in the year-ago period.
Commercial vehicle exports also registered a 23% year-on-year increase, reaching 19,427 units in Q1.
Similarly, three-wheeler exports surged 34% to 95,796 units during the quarter, compared to the same period last fiscal.