Passenger vehicle exports up by 15% in FY23: Report

The total number of passenger vehicle exports stood at 662,891 units in FY23

April 18, 2023

In FY22, passenger vehicle exports stood at 577,875 units

Passenger car shipments grew by 10% to reach 413,787 units in FY23

Utility vehicle exports rose by 23% to 247,493 units in FY23

Maruti Suzuki India was the top exporter of passenger vehicles, followed by Hyundai Motor India and Kia India

India’s passenger vehicle exports increased by 15% in FY23, according to a report from industry body Society of Indian Automobile Manufacturers (SIAM).  According to the report, the total number of passenger vehicle exports stood at 662,891 units in FY23, up from 577,875 units in the previous fiscal year.

Within the passenger car segment, shipments grew by 10% to reach 413,787 units, while utility vehicle exports rose by 23% to 247,493 units in the last fiscal year. However, van exports decreased to 1,611 units from 1,853 units in the previous fiscal year.

Maruti Suzuki India was the top exporter of passenger vehicles, followed by Hyundai Motor India and Kia India. Maruti Suzuki India exported 255,439 passenger vehicles, an increase of 8% compared to the 235,670 units in the 2020-21 period. The company exports its vehicles to various markets, including Latin America, ASEAN, Africa, the Middle East, and neighbouring regions.

Hyundai Motor India’s overseas dispatches stood at 153,019 units, up 18% from the previous fiscal year, while Kia India exported 85,756 units, up from 50,864 units in the previous year.

Other notable exporters included Nissan Motor India, Renault India, Volkswagen India, Honda Cars India, and Mahindra & Mahindra. Overall, automobile exports from India in FY23 stood at 47,61,487 units, down 15% from the previous fiscal year.

Source: Economic Times

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