Vehicle exports from the country increased by 15.5 percent during the June quarter. Society of Indian Automobile Manufacturers (SIAM), an organization of vehicle manufacturers SIAM gave this information on Sunday. SIAM said that the increase in vehicle exports in foreign markets is a good sign for the Indian automobile industry. In the first quarter Exports of vehicles of all segments except three-wheelers have increased from the country to foreign markets.
Total vehicle exports in the first quarter of the current financial year ending June 30 stood at 11,92,577 units Whereas in the first quarter of the last financial year this figure was 10,32,449 units. In the first quarter, the export of passenger vehicles increased by 19 percent to 1,80,483 units. Which was 1,52,156 units in the same quarter last year.
in the foreign market Maruti Suzuki sent the most vehicles
During this period, Maruti Suzuki India, the country’s largest car manufacturer, topped the list with exports of 69,962 vehicles. In the first quarter of the last financial year, Maruti had exported 62,857 vehicles. During the April-June quarter, Hyundai Motor’s vehicle exports stood at 42,600 units. Whereas in the first quarter of FY24, the company exported 35,100 vehicles.
Apart from three wheelers, export of these vehicles also increased
During the first quarter of the current financial year, the export of two-wheelers from the country increased by 17 percent to 9,23,148 units, which was 7,91,316 units in the same period a year ago. During this period, the export of commercial vehicles increased by 8 percent on an annual basis to 15,741 units. This figure was 14,625 units in the same period a year ago. At the same time, the export of three-wheelers declined by 3 percent to 71,281 units during this period. In the same quarter a year ago, 73,360 three-wheelers were exported.
SIAM President Vinod Aggarwal said that the automobile industry It is a good sign for the export figures that have been better. He expressed hope that exports have recovered from their low level, especially the commercial vehicles segment. Growth has started to be seen from the first quarter of this year. Till last year, there was a huge decline in the export of trucks and buses.
He said that the first quarter has also been good for two-wheelers and passenger vehicles. We are very positive that exports have started improving. Vehicle exports from India declined by 5.5 percent in FY 2023-24 due to the monetary crisis in various foreign markets. Total vehicle exports stood at 45,00,492 units in the previous financial year, while in the previous financial year 2022-23 this figure was 47,61,299 units.