India's Automobile Surge: How Many Cars Are Hitting Global Markets?

India’s vehicle exports have experienced a significant rebound in the first half of the current financial year (FY25), with over 2.52 million automobiles shipped internationally. The total auto exports reached 2,528,248 units from April to September 2024, marking a 14% increase compared to 2,211,457 units during the same period last fiscal year (FY24).

The growth was driven by strong demand across various segments. The passenger vehicles, two-wheelers, and commercial vehicles recorded impressive double-digit growth. While three-wheeler exports saw a slight decline of 1% year-on-year, this was an improvement from the 18% drop observed in the first half of FY24.

In detail, the passenger vehicle (PV) segment exported 376,679 units, reflecting a 12% year-on-year increase. Two-wheeler exports totaled 1,959,145 units, representing a 16% rise from 1,685,907 units in the same period last year.

Maruti Suzuki India led the passenger vehicle exports with 147,063 units shipped from April to September 2024, followed by Hyundai Motor India with 62,162 units. Notably, Maruti Suzuki has also surpassed the 10 million cumulative production milestone at its facility in Manesar, Haryana.

In the two-wheeler market, Bajaj Auto emerged as the top exporter, delivering 764,827 units, with TVS Motor Co. closely following.

Additionally, the Indian automobile market experienced a 6.55% growth year-on-year in the first half of FY25, with expectations of increasing demand driven by rural markets. The Federation of Automobile Dealers Associations (FADA) reported a 9.08% sales growth in two-wheelers, 7.58% in three-wheelers, and 1.07% in passenger vehicles. However, consumer vehicles and tractor retail sales saw declines of 0.65% and 8.82%, respectively.

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