Vehicle exports from India grew by 14 percent year-on-year in the first half of the current financial year (2024-25). Total exports have increased mainly due to an increase in consignments of passenger vehicles and two-wheelers. This information has been received from the data of the Society of Indian Automobile Manufacturers (SIAM), an organization of vehicle manufacturers.

According to SIAM data, India's vehicle exports grew 14 percent to 25,28,248 units in April-September as against 22,11,457 units in the same period a year ago. SIAM President Shailesh Chandra said, "Markets like Latin America and Africa, where there was a slowdown due to some reason, have now improved the situation. This is why the export figures have increased."

Various African countries and other regions faced challenges due to the devaluation of currencies. This affected their vehicle imports as these countries were focusing on importing essential goods. Vehicle exports declined by 5.5 percent in FY 2023-24 due to the monetary crisis in various foreign markets.

Total exports stood at 45,00,492 units in the previous fiscal, while it was 47,61,299 units in 2022-23. Total passenger vehicle exports grew 12 percent year-on-year to 3,76,679 units in the first half of the current financial year, as against 3,36,754 units in the same period of FY 2023-24. The country's largest carmaker Maruti Suzuki topped the list with exports of 1,47,063 units.

The company's exports have increased by 12 percent. The company exported 1,31,546 vehicles in the same period a year ago. Hyundai Motor India exported 84,900 vehicles in the first half of the current financial year as against 86,105 units in the April-September period of the previous 2023-24. This is a decline of one percent.

Two-wheeler exports grew 16 percent year-on-year to 19,59,145 units in the April-September period of the current fiscal year as against 16,85,907 units in the same period a year ago. Scooter exports grew 19 percent to 3,14,533 units, while motorcycle exports grew 16 percent to 16,41,804 units during the period under review.

Commercial vehicle exports grew 12 percent year-on-year to 35,731 units in the first six months of the fiscal. However, three-wheeler exports declined by one percent to 1,53,199 units during this period as against 1,55,154 units in the same period of FY 2023-24.