Exports of automobiles from the country have declined by 5.5 per cent in the last financial year 2023-2024. The Society of Indian Automobile Manufacturers (SIAM) has said that due to the financial crisis in many foreign markets, the export of vehicles from the country has declined. The total vehicle exports in the last financial year stood at 45,00,492 units as compared to 47,61,299 units in the previous financial year 2022-23.
Exports of passenger vehicles increased by 1.4 per cent to 6,72,105 units in the last financial year from 6,62,703 units in FY 2022-23. Maruti Suzuki exported 2,80,712 vehicles during the period under review. In the previous fiscal, Maruti’s exports stood at 2,55,439 units Hyundai Motor India exported 1,63,155 units in the last financial year. It had exported 1,53,019 vehicles in the previous fiscal. Kia Motors exported 52,105 vehicles during the year, while Volkswagen India exported 44,180 units in the last fiscal. Nissan Motor India and Honda Cars exported 42,989 and 37,589 units respectively in FY 2023-24. Exports of two-wheelers declined by 5.3 per cent to 34,58,416 units in the last fiscal. The exports in this segment stood at 36,52,122 units in the previous financial year. Similarly, exports of commercial vehicles declined by 16 per cent to 65,816 units. Exports of commercial vehicles stood at 78,645 units in 2022-2023. Exports of three-wheelers declined by 18 per cent to 2,99,977 units in the last fiscal as compared to 3,65,549 units in 2022-23.
