SIAM: Automobile export from India increases 19.2 % in 2024-25

According to the Society of Indian Automotive Manufacturers (SIAM), automobile exports from India in 2024-25 increased by 19.2% compared to the previous year. The export, which includes passenger vehicles, two-wheelers, and commercial vehicles, stood at 53,63,089 units in 2024-25, compared with 45,00,494 units in 2023-24.

The exports were mainly to African and Latin American countries, with some exports also starting to the developed countries.

Break-up of Automobile exports in 2024-25 

According to SIAM, the following is the breakup of the automobile units exported from India in 2024-25.

• Total vehicle export 53,63,089 units during 2024-25,
• Passenger vehicles(cars, vans, MPVs and SUVs) export in 2024-25 was 7,70,364 units as compared to 6,72,105 units in 2023-24, a growth rate of 15 %.
• Two-wheeler exports in 2024-25 were 41,98,403 units, representing a 21% growth rate compared to the previous fiscal year.
• Commercial export in 2024-25 was 80,986 units, an increase of 23% as compared to last year.

Leading Exporter Companies 

Passenger Vehicle Segment Exporters

• Maruti Suzuki India Limited was the leading exporter of passenger vehicles from India. It exported 332,585 units in 2024-25 as compared to 283,067 in 2023-24. The main markets of Maruti were Africa, West Asia, Latin America and Japan.
• In second place was Hyundai India Limited. It exported 1,58,686  units in 2024-25. The main markets for Hyundai were Saudi Arabia, South Africa, Mexico, Chile, and Peru. It has exported over 1,5 million i10 models to date from India.

Two Wheeler Exporters 

•  Bajaj Auto, TVS and Honda Motorcycles & Scooters India Ltd were the top three in the two-wheeler segment.
• The African region and Latin America were key export markets.

Reason for the increase in exports from India 

The increase in exports reflects the growing global acceptance of made-in-India vehicles. Some of the main reasons for the increase in exports are as follows:

• Multinational automobile companies are using India as a base to export vehicles.
• India has emerged as a cost-efficient manufacturing hub, making it competitive in the international market.
• The production-linked incentive (PLI) scheme has also contributed to increased automobile exports. The PLI investment in the automotive component sector has led to technological advancements in the auto component sector, resulting in an overall improvement in the quality of Indian automobile products.
• In the past few years, the Indian automobile sector suffered due to a shortage of semiconductors. But last year, there were no such problems.
• The key markets for Indian products in Africa and Latin America have also recovered from the economic impact of COVID-19.  
• The introduction of new models and the push to the manufacturing of electric vehicles (EV) has also contributed to increasing two-wheeler exports.