India Automobile Exports Rise 34 Percent to 1.96 Million Units in First Quarter

In Chennai and across the country, India's automobile exports recorded a strong performance in the first quarter of the fiscal year, growing by 34 percent year-on-year. According to data released by the Society of Indian Automobile Manufacturers (SIAM), total exports reached 1.96 million units shipped overseas during the quarter, up from the previous year. This growth was primarily driven by overseas demand for two-wheelers, passenger vehicles, and three-wheelers.

The strong performance was achieved despite mounting geopolitical tensions in West Asia, which is a crucial market for Indian vehicle manufacturers. The conflict in the region disrupted shipping schedules and caused a significant rise in freight costs. However, industry representatives stated that diversified export markets and robust global demand helped offset these regional disruptions.

A key highlight of the quarter's performance was the global shift toward sport utility vehicles (SUVs). While the export of traditional passenger cars fell by five percent to 98,140 units, shipments of utility vehicles climbed by 25 percent. This surge in utility vehicle demand lifted overall passenger vehicle exports, including vans, by nine percent to a total of 2.2 lakh units.

Maruti Suzuki drove India’s passenger vehicle exports during the quarter. The company shipped 1.2 lakh units of utility vehicles and cars, accounting for 55 percent of India’s total passenger vehicle exports. This volume was more than the shipments of all other passenger vehicle exporters combined.

Other major manufacturers trailed behind the market leader. Hyundai secured the second position by exporting 38,708 units during the quarter. Nissan followed in third place, shipping 12,548 units overseas.