Surge in India’s Auto Exports in Q1 FY25
According to the Society of Indian Automobile Manufacturers (SIAM), India’s automobile exports surged by 15.5% year-on-year (YoY) in the April-June quarter (Q1 FY25). The data indicates a remarkable growth in overall exports, reaching 11,92,577 units, a significant increase from 10,32,449 units exported in the corresponding quarter of the previous year.
Except for three-wheelers, all sectors experienced growth in shipments. Passenger vehicle exports reached 1,80,483 units in the quarter ending June 30, 2024, marking a 19% increase compared to the 1,52,156 units exported in the same quarter of FY24.
Two-wheeler exports also witnessed a 17% growth, reaching 9,23,148 units on a YoY basis. Commercial vehicle shipments increased by 8% to 15,741 units in Q1 FY25.
However, three-wheeler exports declined by 3% from 73,360 units in Q1 FY24 to 71,281 units in the present quarter.
Maruti Suzuki India emerged as the leading exporter, shipping 69,962 units in Q1 FY25, compared to 62,857 units in the same quarter last year.
SIAM President Vinod Aggarwal expressed optimism, stating, “Exports have started performing well, which is a positive sign. Commercial vehicles, especially, are recovering, and we’ve seen growth in the first quarter. Exports of two-wheelers and passenger vehicles have also been encouraging. We anticipate a continued recovery in exports.”
It’s noteworthy that India’s automobile exports had declined by 5.5% in FY24 due to economic challenges in global markets. However, the surge in exports in Q1 FY25 suggests a promising rebound in the industry.
