India Logs 15.5 Per Cent Rise In Automobile Exports In Q1FY25, Three-Wheelers Shipments Slip 3 Per Cent

Amongst the exporters, Maruti Suzuki India dominated with 69,962 units shipped in the first quarter of FY25, against 62,857 units clocked in the corresponding quarter a year earlier

The data showed that in the first quarter of the current 2024-25 fiscal year (FY25), the overall exports touched 11,92,577 units, up from 10,32,449 units in Q1FY24. (Image Source: Pexels)

Source : Pexels

India’s automobile exports climbed 15.5 per cent in the April-June quarter on a year-on-year (YoY) basis, the latest data from the Society of Indian Automobile Manufacturers (SIAM) revealed. The data showed that in the first quarter of the current 2024-25 fiscal year (FY25), the overall exports touched 11,92,577 units, up from 10,32,449 units in the corresponding quarter a year earlier.

This growth in shipments covered all verticals, except three-wheelers, the data stated. Passenger vehicle exports, on the other hand, touched 1,80,483 units in the quarter ended June 30, 2024, climbing 19 per cent from 1,52,156 units logged in the same quarter in the preceding 2023-24 fiscal year (FY24), reported PTI.

Two-wheeler exports increased by 17 per cent to 9,23,148 units in the reviewing quarter on a year-on-year (YoY) basis. Commercial vehicle shipments also gained 8 per cent to 15,741 units in Q1FY25 on a YoY basis. At the same time, three-wheeler exports declined 3 per cent from 73,360 units in Q1FY24 to 71,281 units in the quarter under review.

Amongst the exporters, Maruti Suzuki India dominated with 69,962 units shipped in the first quarter of FY25, against 62,857 units clocked in the corresponding quarter a year earlier.

Commenting on the data, Vinod Aggarwal, President, SIAM, noted, “It is a good sign for the industry that exports have started doing well. 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. Till last year, there was a huge drop in the export volume of trucks and buses. But Q1 has been good even for two-wheelers and passenger vehicles. We are very positive that exports have started to recover.”

Notably, the country’s automobile exports slipped 5.5 per cent in FY24, attributed to the monetary crisis in several global markets. In FY24, the overall exports touched 45,00,492 units, against 47,61,299 shipments recorded in the 2022-23 fiscal year (FY23).