Demand for Made-in-India SUVs propels passenger vehicle exports

Tribune News Service

Updated At : 11:00 AM Aug 17, 2024 IST

The craze for UVs (Utility Vehicles) is intensifying at a rapid pace not only in the domestic market but for “Made in India” SUVs in the exports market as well. - File photo

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Vijay C Roy

Tribune News Service

Chandigarh, August 16

The craze for UVs (Utility Vehicles) is intensifying at a rapid pace not only in the domestic market but for “Made in India” SUVs in the exports market as well.

The surge in demand for SUVs has brought respite to passenger vehicle (PV) makers, who were struggling with subdued demand of passenger cars in domestic market as well as in the export market. PVs comprise passenger cars and UVs. UVs are mainly sports utility vehicles (SUVs) and multi utility vehicles (MUVs). While in the domestic market, SUVs sale during April-July 2024 witnessed a growth of 14.6 per cent as compared to the corresponding period of the previous year, SUV exports registered an increase of 39.8 per cent, according to Society of Indian Automobile Manufacturers (SIAM) data.

On the other hand, passenger car sales during April-July 2024 witnessed a decline of 16.4 per cent in the domestic market, whereas in the export market, it witnessed a marginal growth of 0.5 per cent. During April-July 2024, PV makers exported 1,05,769 units of utility vehicles, compared to 75,644 units in April-July 2023. The export of passenger cars was 1,34,079 units as compared to 1,33,429 units in the same period this and previous years.

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