Automobile exports from India rose by 19 per cent to over 53 lakh units in the last 2024-25 fiscal year driven by robust demand for passenger vehicles, two wheelers and commercial vehicles in the overseas markets.
Overall exports last fiscal stood at 53.63 lakh (53,63,089) units as compared with 45 lakh (45,00,494) units in 2023-24 fiscal ending March 31, 2024.
Passenger vehicle shipments rose by 15 per cent to 7,70,364 units last fiscal as against 6,72,105 units in FY24.
The segment reported its best-ever yearly performance last fiscal, driven by demand for global models being manufactured in India, industry body SIAM stated.
With manufacturing quality improving, some companies have also commenced exporting to developed markets, it added.
Utility vehicle dispatches led the space with dispatch of 3,62,160 units, a growth of 54 per cent, as compared with 2,34,720 units in FY24.
Two-wheeler exports increased by 21 percent to 41,98,403 units last fiscal as against 34,58,416 units in 2023-24 fiscal.
New models and new markets have helped in expanding the footprint of two-wheeler exports, SIAM said.
Further, economic stability in the African region and demand in Latin America has supported this growth, it added.
Three-wheeler exports grew by 2 percent in FY 2024-25 as compared to FY 2023-24 with shipment of 3.1 lakh units.
SIAM said that export demand in key markets of interest, such as Africa and neighbouring countries, is likely to continue as 'Made in India' vehicles are gaining traction.
"On the exports front, good recovery is seen across all segments, particularly passenger vehicles and two-wheelers reflecting improved global demand and India's growing competitiveness," SIAM President Shailesh Chandra said.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
