India's Automobile Exports Soar by 19% in 2024

Automobile exports from India increased by 19% in 2024, driven by demand from emerging markets in Latin America and Africa. Two-wheelers, passenger vehicles, and commercial vehicles were significant contributors to this rise, with spectacular growth in utility vehicle and motorcycle shipments.

In 2024, India's automobile export industry witnessed a remarkable 19% growth, according to data from the Society of Indian Automobile Manufacturers (SIAM). The surge was primarily driven by increased demand from emerging markets such as Latin America and Africa.

The total shipments reached 50,98,810 units, compared to 42,85,809 units the previous year. Two-wheelers played a crucial role in this uptick, especially motorcycles, which saw a 24% increase.

Passenger vehicle exports also experienced growth, with utility vehicles leading the pack. Conversely, the passenger car segment saw a minor decline. Overall, this robust export performance underscores the growing global interest in Indian automobiles.

(With inputs from agencies.)