India's Vehicle Exports Reach Record High of 53 Lakh Units in 2024-25
Click to start listening
Synopsis
Automobile exports from India surged by 19% to reach an unprecedented 53 lakh units in the fiscal year ending March 31, marking India's strength as a leading auto manufacturing hub. Maruti Suzuki and Hyundai were prominent exporters, with two-wheelers, passenger vehicles, and commercial vehicles contributing significantly to the record numbers.
Key Takeaways
- India's vehicle exports exceeded 53 lakh units.
- Maruti Suzuki and Hyundai led car and SUV exports.
- Two-wheeler exports grew by 21% in FY 2024-25.
- Export markets include Mexico, Australia, and South Africa.
- Economic stability in Africa supports export growth.
New Delhi, April 20 (NationPress) Automobile exports from India experienced a remarkable 19 percent increase, surpassing a historic milestone of 53 lakh units for the financial year concluding on March 31. This surge highlights the growing prominence of India as a major auto manufacturing hub.
Leading the charge in car and SUV exports were Maruti Suzuki and its key competitor Hyundai, while Bajaj Auto, TVS, and Honda Motorcycles & Scooters India Ltd dominated the two-wheeler segment.
According to data compiled by the Society for Indian Automobile Manufacturers (SIAM), India's total vehicle exports reached 53,63,089 units during 2024-25, a significant rise from 45,00,494 in the previous financial year.
Passenger vehicle exports saw a solid 15 percent growth, climbing from 7,70,364 units in the previous year to 6,72,105 units in 2023-24.
This performance marks the best annual results to date, propelled by the demand for internationally recognized models produced in India. With enhancements in manufacturing quality, some firms have started exporting to developed markets, as per a statement from SIAM.
Maruti Suzuki, India's largest car manufacturer, has begun exporting its off-road SUV Jimny to Japan. The leading export destinations for this vehicle currently include Mexico, Australia, and South Africa.
This marks the second SUV after the Fronx that the company is sending to its parent company. Maruti exports the Fronx SUVs to Japan from its plant in Gujarat, with shipments departing from the Pipavav Port in the state.
The Jimny was launched in India in June 2023, and exports to various countries in Latin America, the Middle East, and Africa commenced in October 2023. In the 2023-24 fiscal year, over 22,000 units of this five-door vehicle were exported from India, and more than 38,000 units of the Jimny were shipped in the first nine months of 2024-25.
On the other hand, Hyundai Motor India (HMIL) maintained its strong performance in the global automotive sector, exporting 1,58,686 vehicles in 2024-25. The primary markets for the company include Saudi Arabia, South Africa, Mexico, Chile, and Peru.
HMIL is strategically establishing itself as a manufacturing hub for emerging markets in Africa and neighboring regions, addressing challenges in the Middle East and Latin America, according to a company statement.
The i10 family from Hyundai has crossed 1.5 million exports, while the Verna model has achieved a cumulative total of over 5,00,000 units.
In the meantime, utility vehicle exports led the way in India's export portfolio with 3,62,160 units dispatched, reflecting a growth of 54 percent from 2,34,720 units in FY24.
Two-wheeler exports also increased by 21 percent, totaling 41,98,403 units in the last fiscal year, compared to 34,58,416 units in 2023-24, as reported by SIAM.
The introduction of new models and entry into new markets have facilitated the expansion of two-wheeler exports, according to SIAM.
Additionally, economic stability in the African region and rising demand in Latin America have fueled this growth.
Three-wheeler exports experienced a 2 percent increase in FY 2024-25, amounting to 3,10,000 units.
Exports of commercial vehicles rose by 23 percent in 2024-25, reaching 80,986 units, compared to 65,818 units in the previous fiscal year.
SIAM President Shailesh Chandra commented, "The export sector has witnessed a robust recovery across all segments, particularly passenger vehicles and two-wheelers, indicating improved global demand and India's enhanced competitiveness."
