Automobile Exports From India Reverse Decline Trend To Report 15.5 Per Cent Increase In Q1 Of FY25, Maruti Suzuki Leads

Automobile exports from India in the first quarter of the Financial Year 2024-25 reported an increase of 15.5 per cent from the same quarter of the previous year.

All verticals, except three-wheelers, registered growth in shipments as per the latest Siam data reported by Business Standard. This reverses last year's trend of 5.5 per cent decline.

India exported 1,192,577 units in the first quarter of FY25, marking an increase from 1,032,449 units in the same period of FY24.

Passenger vehicle exports witnessed the highest jump with a 19 per cent increase. Maruti Suzuki led the segment with an export of 69,962 units.

Hyundai Motor India was second by exporting 42,600 units, an increase from 35,100 units in the same period of the previous year.

The two-wheeler segment reported the second-highest increase of 17 per cent. 923,148 units were shipped in the first quarter, up from 791,316 units in the previous year.

Commercial vehicle shipments also increased by 8 per cent, while the Three-wheeler shipments reported a decline of 3 per cent.

"I think that's a very good sign that exports seem to have bottomed out, especially in the commercial vehicle segment," Siam President Siam Vinod Aggarwal said.

The comment comes in the backdrop of a huge drop in the export volume of trucks and buses till last year. Aggarwal said that now growth is visible from the first quarter.

"But Q1 has been good even for two-wheelers and passenger vehicles. We are very positive that exports have started to recover," he added.