According to the most recent Siam statistics, automobile exports from India increased 15.5% year over year in the June quarter. All verticals saw increases in shipments, with the exception of three-wheelers.
In the first quarter of the current fiscal year, total shipments were 1,192,577 units, down from 1,032,449 units during the same period in the previous fiscal year.
In comparison to 152,156 units during the same period last year, passenger vehicle exports increased by 19% to 180,483 units in the first quarter.
Maruti Suzuki India topped the market with 69,962 vehicles shipped over the studied period. During the first quarter of the 2023–24 fiscal year, it exported 62,857 units.
42,600 units were exported by Hyundai Motor India between April and June. 35,100 units had been shipped within the same time frame previous year.
Exports of two-wheelers increased by 17% to 923,148 units in the first quarter of this year from 791,316 units in the same period last year.
Compared to 14,625 units a year earlier, commercial vehicle shipments increased by 8% year over year to 15,741 units in the first quarter.
The fact that exports have begun to perform well is encouraging for the sector, according to Siam President Siam Vinod Aggarwal.
"I think that's a very good sign that exports seem to have bottomed out, especially in the commercial vehicle segment... we have started seeing the growth from the first quarter this year," he said.
"But Q1 Has Been Good Even For Two-wheelers And Passenger Vehicles. We Are Very Positive That Exports Have Started To Recover," Aggarwal Said.
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