India witnessed a significant surge in automobile exports in the financial year 2024-25, with total shipments rising by 19% to 53.63 lakh units, according to data released by the Society of Indian Automobile Manufacturers (SIAM). This growth was fueled by strong global demand for passenger vehicles, two-wheelers, and commercial vehicles.
In comparison, exports stood at 45 lakh units in FY 2023-24, indicating a robust recovery across various segments.
Passenger Vehicles Hit New High
Passenger vehicle exports saw a 15% rise, reaching 7,70,364 units in FY 2024-25, up from 6,72,105 units in the previous fiscal year. SIAM attributed this record-breaking performance to growing global demand for models produced in India, along with improvements in manufacturing quality that have enabled some companies to begin shipments to developed markets.
Utility vehicles drove the growth in this segment, with exports jumping 54% to 3,62,160 units, compared to 2,34,720 units the year before.
Two-Wheelers Lead the Charge
Two-wheeler exports played a pivotal role in the overall growth, increasing by 21% to 41,98,403 units, up from 34,58,416 units in FY 2023-24. According to SIAM, the expansion into new markets and the launch of updated models helped broaden the reach of Indian two-wheelers abroad. Stability in African economies and rising demand in Latin America further contributed to the growth.
Commercial and Three-Wheeler Segments Grow
Exports of commercial vehicles rose by 23%, with 80,986 units shipped in FY 2024-25 compared to 65,818 units a year earlier. The three-wheeler segment also recorded modest growth of 2%, totaling around 3.1 lakh units.
SIAM highlighted that markets in Africa and neighboring regions remain key drivers for export momentum, as ‘Made in India’ vehicles continue to gain popularity for their quality and affordability.
Optimistic Outlook
“On the exports front, good recovery is seen across all segments, particularly passenger vehicles and two-wheelers, reflecting improved global demand and India’s growing competitiveness,” said SIAM President Shailesh Chandra.
With favorable conditions in major markets and ongoing innovation in manufacturing, India’s automobile export sector appears poised for continued growth in the coming years.
