Indian Auto Exports Surge in Q1, Domestic Market Shows Mixed Results

New Delhi, Jul 13 (KNN) In a significant boost to India's automotive sector, exports of two-wheelers and passenger vehicles have shown robust growth in the first quarter of the current fiscal year, according to the latest data released by the Society of Indian Automobile Manufacturers (SIAM). 

This upward trend in exports comes despite a relatively modest performance in the domestic market.

Two-wheeler exports saw a substantial increase of 16.7 per cent, reaching 923,148 units compared to 791,316 units in the same period last year. Leading exporters in this segment include Bajaj Auto, TVS Motor Company, and Honda Motorcycle and Scooter.

The passenger vehicle segment also witnessed impressive export growth of 18.6 per cent, with 180,483 units shipped overseas compared to 152,156 units in the previous year's corresponding period. Maruti Suzuki, Hyundai Motor India, and Honda Cars were among the top exporters in this category.

Domestically, passenger vehicle sales showed marginal growth of 3 per cent year-on-year, totaling 1,026,006 units. 

However, this figure represents the highest ever Q1 sales for passenger vehicles in India, crossing the 1 million mark for the first time in a single quarter.

SIAM President Vinod Aggarwal noted that all segments of the automotive industry posted growth in Q1 2024-25 compared to the previous year. 

While passenger and commercial vehicles saw moderate increases, two-wheelers and three-wheelers recorded impressive double-digit growth.

The two-wheeler segment, in particular, showed strong domestic performance with a 20.4 per cent increase, selling 4,985,631 units. 

Scooters within this category posted even higher growth, indicating a potential recovery in the entry-level two-wheeler market.

Industry experts are optimistic about the sector's prospects for the remainder of the fiscal year, citing positive monsoon forecasts and the approaching festive season as potential drivers for continued growth.

This export-led growth, coupled with steady domestic demand, paints a promising picture for India's automotive industry, reinforcing its position as a key player in the global market.

(KNN Bureau)