vehicles from the country Exports have declined by 5.5 percent in the last financial year 2023-24. This information has been obtained from the data of SIAM, the organization of vehicle manufacturers. The Society of Indian Automobile Manufacturers (SIAM) says that due to the monetary crisis in many foreign markets, there has been a decline in vehicle exports from the country. According to the data, total vehicle exports in the last financial year stood at 45,00,492 units, whereas in the previous financial year 2022-23 it was 47,61,299 units. SIAM Chairman Vinod Aggarwal said that conditions remain volatile in various foreign markets. He said that some countries, where we are very strong in terms of commercial vehicle and two-wheeler exports, are facing foreign exchange related issues.
Two-wheeler and three-wheeler exports also declined
While there was a significant decline in exports of commercial vehicles, two-wheelers and three-wheelers in the last financial year, exports of passenger vehicles increased marginally. He said that some good improvement has been seen in the January-March quarter this year. Especially in the two-wheeler segment. Aggarwal said that we have full hope that the situation will improve in future. Exports of passenger vehicles increased by 1.4 percent to 6,72,105 units in the last financial year, from 6,62,703 units in the financial year 2022-23.
Maruti Suzuki exported 2,80,712 vehicles during the period under review. In the previous financial year, Maruti’s exports were 2,55,439 units. Hyundai Motor India exported 1,63,155 units in the last financial year. In the previous financial year, it had exported 1,53,019 vehicles. Kia Motors exported 52,105 vehicles during the year, while Volkswagen India exported 44,180 units in the last fiscal.
Export of commercial vehicles decreased by 16 percent
Nissan Motor India and Honda Cars exported 42,989 and 37,589 units, respectively, in FY 2023-24. Two-wheeler exports declined by 5.3 percent in the last financial year to 34,58,416 units. In the previous financial year, exports in this segment were 36,52,122 units. Similarly, exports of commercial vehicles declined by 16 percent to 65,816 units. Exports of commercial vehicles in 2022-23 stood at 78,645 units. Exports of three-wheelers declined by 18 percent to 2,99,977 units in the last financial year, compared to 3,65,549 units in 2022-23.
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