Vehicle exports surge 14% from India in H1 FY2025, PV and CV segment exports surged: SIAM

Rise in exports in H1: The Indian automobile industry witnessed a surge in exports of made-in-Indian vehicles. As per the data shared by the Society of Indian Automotive Manufacturers, there was a rise of 14 per cent witnessed on a year-on-year basis in the exports from April to September 2024 period and recorded total exports of 25,28,248 units. The passenger vehicle segment recorded a surge of 12 per cent on a year-on-year basis. In the commercial vehicle segment, the Medium and the Heavy commercial vehicle segment also registered a surge of 13 per cent on a year-on-year basis and the LCV segment recorded 12 per cent growth.

Despite recording growth in exports in the PV and CV segment, there was a decline of 3 per cent recorded in the three-wheeler segment. It recorded a decline of one per cent on a year-on-year basis. The two-wheeler segment as well witnessed a surge of 16 per cent on a year-on-year basis.

Let us look at the leading exporters of each segment with the highest exports from April to September 2024 period:

Passenger vehicle segment:

The exports of the passenger vehicle segment recorded an overall rise of 12 per cent on a year–on-year basis. Maruti Suzuki was a leading export player on the list, having total exports of 1,47,063 units in April-Sepetember 2024 period. Maruti Suzuki witnessed a growth of 12 per cent on a year-on-year basis. Hyundai Motor India recorded a decline in exports in this period. The automaker recorded a decline of 1 per cent on a year-on-year basis and recorded total exports of 84,900 units. Overall, the PV segment recorded total exports of 3,76,679 units in April to September 2024 period and saw a rise of 12 per cent. 

Commercial vehicle segment: 

As per the data from SIAM, in the commercial vehicle segment Isuzu Motors India secured the first position on the exports list of commercial vehicle. Isuzu recorded total exports of 9,475 units in April to September 2024 period and saw a growth of 25 per cent on a year-on-year basis. Next was Mahindra and Mahindra, recording total exports of 8,496 units in this period. Mahindra registered a growth of 12 per cent in its exports. Overall, the CV segment recorded total exports of 35,731 units and recorded a growth of 12 per cent on a year-on-year basis. 

Two-wheeler Segment: 

In the two-wheeler segment, Bajaj Auto continued to dominate the export list witgh highest number of exports in April to September 2024 period. As per the data by SIAM, Bajaj Auto recorded total exports of 7,64,827 units and saw a growth of 6 per cent. Next is the TVS Motor Company on the list, having total exports of 5,05,875 units in this period. The TVS Motor Company recorded a 16 per cent rise in this period. Overall, the two-wheeler segment recorded total exports of 19,59,145 units in April to September period and saw a growth of 16 per cent on a year-on-year basis. 

Three-wheeler segment: 

The three-wheeler segment recorded a marginal decline in exports. As per the data from SIAM, this segment once again saw Bajaj Auto at its first position. Bajaj Auto saw total exports of 87,907 units in April to September 2024 period. The Bajaj Auto saw a growth of 13 per cent on a year-on-year basis. Next on the list is the TVS Motor Company, having total exports of 56,245 units in this period. The company registered a decline in exports, and witnessed a slump of 18 per cent on a year-on-year basis. Overall, the three-wheeler segment recorded exports of 1,53,199 units in April-September 2024 period and saw a decline of one per cent on a year-on-year basis.