India's automobile exports jump 22 pc in April-June quarter
This strong growth was driven by record shipments of passenger vehicles, along with solid performance in two-wheelers, commercial vehicles, and three-wheelers.
In total, India exported 14,57,461 vehicles across all categories in the first quarter, up from 11,92,566 units during the same period the previous year.
Passenger vehicle exports reached an all-time high of 2,04,330 units in the April-June quarter -- marking a 13 per cent increase compared to 1,80,483 units exported in the same quarter last year.
SIAM attributed this growth to stable demand in most international markets, with strong performance in the Middle East and Latin America.
Exports also received a boost from recovering demand in neighbouring countries like Sri Lanka and Nepal, as well as growing interest from Japan.
SIAM further noted that Free Trade Agreements (FTAs) with countries such as Australia helped increase shipments.
Maruti Suzuki, the leading carmaker in the country, was the top exporter of passenger vehicles in the April-June quarter.
The company sent 96,181 cars to other countries, which is over 37 per cent more than the 69,962 cars it exported during the same period the previous year.
Hyundai Motor India exported 48,140 cars during this time, a 13 per cent increase compared to 42,600 cars in the April-June quarter of the previous year.
Two-wheeler exports saw a 23 per cent rise, reaching 11,36,942 units in Q1, up from 9,23,148 units during the same period the previous year.
Commercial vehicle exports also grew by 23 per cent, with shipments rising to 19,427 units.
Three-wheeler exports recorded the highest growth rate among all segments, jumping 34 per cent to 95,796 units in the April-June quarter.
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