According to data from the Society of Indian Automobile Manufacturers (SIAM), automobile exports from India surged by 19% YoY in 2024, driven by strong shipments of two-wheelers, passenger vehicles, and commercial vehicles. Total exports reached 50,98,810 units, up from 42,85,809 units in 2023. SIAM Director General, Mr. Rajesh Menon, attributed the growth to a recovery in demand for Indian automobiles from emerging markets such as Latin America and Africa.
Passenger vehicle exports increased by 10%, totaling 7,43,976 units in 2024 compared to 6,77,956 units in 2023. Utility vehicle exports saw a significant rise of 33%, reaching 3,23,621 units, while van shipments rose by 14% to 8,207 units. However, passenger car exports fell by 4%, totaling 4,12,148 units, down from 4,27,876 units in 2023. Two-wheeler exports grew by 23%, amounting to 39,77,162 units, with motorcycles accounting for 33,97,586 units, up 24%. Scooter exports increased to 5,73,230 units, and moped exports soared by 89% to 6,346 units. Commercial vehicle exports rose by 6%, reaching 72,511 units, while three-wheeler shipments grew by 2%, totalling 2,98,235 units.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.