India's Automobile Exports Surge: A 19% Increase in 2024-25 Fiscal Year

Significant Growth in Automobile Exports

New Delhi: In the fiscal year 2024-25, India witnessed a remarkable 19% increase in automobile exports, totaling over 5.3 million units. This surge is attributed to strong international demand for passenger vehicles, two-wheelers, and commercial vehicles.

The total exports for the previous fiscal year reached 5,363,089 units, a significant rise from 4,500,494 units recorded in 2023-24, which concluded on March 31, 2024.

Passenger vehicle exports alone saw a 15% increase, amounting to 770,364 units compared to 672,105 units in FY24.

This segment achieved its highest annual performance, fueled by the popularity of global models produced in India, according to the Society of Indian Automobile Manufacturers (SIAM).

With enhancements in manufacturing quality, several companies have begun exporting to developed markets as well.

Utility vehicles led the charge with 362,160 units dispatched, marking a 54% growth from 234,720 units in FY24.

Two-wheeler exports also rose by 21%, reaching 4,198,403 units compared to 3,458,416 units in the previous fiscal year.

The introduction of new models and expansion into new markets have contributed to the growth of two-wheeler exports, as noted by SIAM.

Economic stability in Africa and increasing demand in Latin America have further bolstered this growth.

Three-wheeler exports experienced a modest 2% increase, totaling 310,000 units in FY 2024-25.

Commercial vehicle exports surged by 23%, reaching 80,986 units compared to 65,818 units in the previous year.

SIAM indicated that the demand for exports in key markets, particularly in Africa and neighboring regions, is expected to persist as 'Made in India' vehicles gain popularity.

"The export sector is witnessing a robust recovery across all segments, especially in passenger vehicles and two-wheelers, reflecting enhanced global demand and India's increasing competitiveness," stated SIAM President Shailesh Chandra.