Demand revival in emerging markets aids automobile exports grow 19% in 2024
Automobile exports from India rose 19% in 2024, reaching 50.99 lakh units compared to 42.86 lakh units in 2023, driven by strong demand for two-wheelers, passenger vehicles, and commercial vehicles, according to SIAM.
Passenger vehicle exports increased 10% to 7.44 lakh units, with utility vehicles rising 33% to 3.24 lakh units and vans growing 14% to 8,207 units. However, passenger car exports dropped 4% to 4.12 lakh units.
Two-wheeler exports grew 23% to 39.77 lakh units, led by motorcycles (24% growth to 33.98 lakh units) and scooters (17% growth to 5.73 lakh units). Moped exports saw a sharp 89% increase to 6,346 units.
Commercial vehicle exports rose 6% to 72,511 units, while three-wheeler exports grew 2% to 2.98 lakh units. Emerging markets like Latin America and Africa fueled the growth, said SIAM Director General Rajesh Menon.
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