Passenger vehicle exports increased by 2.68 lakh units in the last four years, know which company exported the most
Cars made in India are in demand in many countries of the world. Vehicles are also exported by many major companies in the country. How has the export performance of cars been in the last four years? How many cars have been exported by which company? Which company has had the highest share? Let's know.
The demand for cars is increasing rapidly all over the world. Car sales in India also remain very good every month. Along with this, cars made in India are also exported to many countries of the world. How has the export of Made in India cars been in the last four years? Which company has had what share? We are telling you in this news.
Every month a large number of passenger vehicles are exported from India to many countries of the world. According to the information, in the last four years, the export of passenger vehicles from India has increased by 2.68 lakh units. According to the data, passenger vehicle exports stood at 4,04,397 units in the 2020-21 financial year. This increased to 5,77,875 units in the 2021-22 financial year and 6,62,703 units in the 2022-23 financial year. Exports stood at 6,72,105 units in the previous financial year, up 2,67,708 units from 2020-21. According to SIAM data, total PV exports stood at 6,72,105 units in FY24, up 1.4 percent from 6,62,703 units in FY23.
Over the last three fiscal years, Maruti Suzuki has contributed 70% of the industry-wide increase of 2,67,708 units shipped to overseas markets. The automaker's export shipments increased by 1,85,774 units between FY21 and FY24.
According to Rahul Bharti, Corporate Affairs Executive at Maruti Suzuki India, factors such as adding more models, adhering to global production standards, and partnering with Toyota have all contributed to increased export volumes. He stated that the company is currently exporting models to approximately 100 countries around the world.
Maruti's top overseas markets are South Africa, Saudi Arabia, Chile, and Mexico. Aside from these, the company's major markets include the Philippines, Indonesia, and the Ivory Coast.
Maruti's models like Baleno, Dzire, Swift, S-Presso, Grand Vitara, Jimny, Celerio, and Ertiga are in great demand worldwide. The company exported 2,80,712 units in the last fiscal, up 10 percent from 2,55,439 units in FY23.
Apart from Maruti, Hyundai also recorded a very good performance in terms of exports. The company exported 1,63,155 units in FY 2024, while only 1,53,019 units were exported in FY 2023. According to the data, Hyundai has registered a growth of seven percent in terms of exports.
