India Auto Exports Surge 15.5% in Q1: SIAM Data
By Rediff Money Desk, New Delhi Jul 14, 2024 10:25
India's automobile exports rose 15.5% year-on-year in the June quarter, led by passenger vehicles and two-wheelers, according to SIAM data. Read more about the export performance and key players.
![India Auto Exports Surge 15.5% in Q1: SIAM Data](https://im.rediff.com/money/2020/dec/01auto1.jpg)
New Delhi, Jul 14 (PTI) Automobile exports from India rose 15.5 per cent year-on-year in the June quarter with all verticals, barring three-wheelers, recording growth in shipments, according to the latest SIAM data.
Overall shipments stood at 11,92,577 units in the first quarter the current fiscal year, as compared with 10,32,449 units in the same period of the last fiscal.
Passenger vehicle exports stood at 1,80,483 units in the first quarter, registering a jump of 19 per cent over 1,52,156 units in the same period last year.
Maruti Suzuki India led the space with shipments of 69,962 units in the period under review. It exported 62,857 units in the first quarter of the 2023-24 fiscal.
Hyundai Motor India exported 42,600 units in the April-June period. It had shipped 35,100 units in the same period last year.
Two-wheeler exports stood at 9,23,148 units in the first quarter, up 17 per cent as against 7,91,316 units in the year-ago period.
Commercial vehicle shipments rose 8 per cent year-on-year to 15,741 units in the first quarter as compared with 14,625 units a year earlier.
Three-wheeler shipments, however, saw a drop of 3 per cent year-on-year to 71,281 units in the April-June period this year as against 73,360 units in the year-ago period.
SIAM President SIAM Vinod Aggarwal said 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," he noted.
Till last year, there was a huge drop in the export volume of trucks and buses, he added.
"But Q1 has been good even for two-wheelers and passenger vehicles. We are very positive that exports have started to recover," Aggarwal said.
Automobile exports from India had declined 5.5 per cent in FY24 due to the monetary crisis in various overseas markets.
Overall exports stood at 45,00,492 units in the last fiscal year as compared with 47,61,299 units in FY23.
Overall shipments stood at 11,92,577 units in the first quarter the current fiscal year, as compared with 10,32,449 units in the same period of the last fiscal.
Passenger vehicle exports stood at 1,80,483 units in the first quarter, registering a jump of 19 per cent over 1,52,156 units in the same period last year.
Maruti Suzuki India led the space with shipments of 69,962 units in the period under review. It exported 62,857 units in the first quarter of the 2023-24 fiscal.
Hyundai Motor India exported 42,600 units in the April-June period. It had shipped 35,100 units in the same period last year.
Two-wheeler exports stood at 9,23,148 units in the first quarter, up 17 per cent as against 7,91,316 units in the year-ago period.
Commercial vehicle shipments rose 8 per cent year-on-year to 15,741 units in the first quarter as compared with 14,625 units a year earlier.
Three-wheeler shipments, however, saw a drop of 3 per cent year-on-year to 71,281 units in the April-June period this year as against 73,360 units in the year-ago period.
SIAM President SIAM Vinod Aggarwal said 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," he noted.
Till last year, there was a huge drop in the export volume of trucks and buses, he added.
"But Q1 has been good even for two-wheelers and passenger vehicles. We are very positive that exports have started to recover," Aggarwal said.
Automobile exports from India had declined 5.5 per cent in FY24 due to the monetary crisis in various overseas markets.
Overall exports stood at 45,00,492 units in the last fiscal year as compared with 47,61,299 units in FY23.
Source: PTI
Read More On:
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- GTL Infrastructure
- 2.93 ( -4.87)
- 226206286
- IFL Enterprises
- 1.30 (+ 4.84)
- 81461564
- Vodafone Idea L
- 16.79 (+ 0.66)
- 67447398
- NCL Research
- 0.95 ( -4.04)
- 31996628
- Franklin Industries
- 3.73 (+ 3.32)
- 21511209
MORE NEWS
![Sensex, Nifty Hit...](https://im.rediff.com/80-80/money/2020/sep/30bse.jpg)
Sensex, Nifty Hit Record Highs for 3rd Day -...
Indian benchmark stock indices Sensex and Nifty closed at record highs for the third...
![Incuspaze Opens...](https://im.rediff.com/80-80/money/2023/jun/27flexible-office.jpg)
Incuspaze Opens New Coworking Centre in Bengaluru
Incuspaze has leased 1.15 lakh sq ft office space in Bengaluru to open a new coworking...
![Rupee Rises 3...](https://im.rediff.com/80-80/money/2013/jul/08rupee2.jpg)
Rupee Rises 3 Paise to Close at 83.58 vs US Dollar
The Indian rupee strengthened against the US dollar on Tuesday, supported by firm...