India's Passenger Vehicle Exports Rise, Maruti Suzuki Dominates

New Delhi, Jun 10 (KNN) India's passenger vehicle exports have seen a significant increase in the last four financial years, with Maruti Suzuki India leading the charge.

According to industry data, passenger vehicle exports rose from 4,04,397 units in the financial year 2020-21 to 6,72,105 units in 2023-24, an increase of 2.68 lakh units.

Maruti Suzuki India, the country's largest carmaker, accounted for nearly 70 per cent of the incremental shipments during this period.

The automaker's export shipments increased by 1,85,774 units between FY21 and FY24, driven by the addition of more models, adherence to global production standards, and a tie-up with Toyota.

Rahul Bharti, Maruti Suzuki India's corporate affairs executive officer, stated that the company is currently exporting models to around 100 nations across the globe, with top overseas markets including South Africa, Saudi Arabia, Chile, Mexico, the Philippines, Indonesia, and Ivory Coast.

Popular export models include the Baleno, Dzire, Swift, S-Presso, Grand Vitara, Jimny, Celerio, and Ertiga.

Overall, passenger vehicle exports stood at 6,72,105 units in the financial year 2023-24, a 1.4 per cent increase over the previous year.

Maruti Suzuki exported 2,80,712 units, a 10 per cent increase, while its rival Hyundai shipped 1,63,155 units, a 7 per cent increase.

The surge in passenger vehicle exports from India highlights the country's growing prominence as a manufacturing hub for automobiles and the increasing global demand for its vehicles.

(KNN Bureau)