Export of India-made two-wheelers, passenger vehicles on the upswing
Vijay C Roy
Chandigarh, July 12
Two-wheelers and passenger vehicles made in India are well placed to achieve strong numbers in the current fiscal year, according to latest data.
During the first quarter (April-June) of the current fiscal year, exports of two-wheelers increased by 16.7 per cent. Also, passenger vehicles exports witnessed a growth of 18.6 per cent, even though the wholesales witnessed a marginal growth (3 per cent) in the domestic market on account of higher base of previous fiscal.
According to data released by Society of Indian Automobile Manufacturers (SIAM), between April and June (Q1) this year, two-wheeler exports touched 9,23,148 units as compared to 7,91,316 units during the corresponding period of previous year (2023-24). The major exporters include Bajaj Auto (3,68,420 units), TVS Motor Company Ltd (2,28,027) and Honda Motorcycle and Scooter (1,38,560).
Similarly, amid strong demand in key markets, passenger vehicle exports touched 1,80,483 units in Q1 this year as compared to corresponding period of the previous fiscal when 1,52,156 units were exported.
The bulk of the exports were passenger cars (1,00,895) followed by utility vehicles (77,675). The major exporters include Maruti Suzuki (69,962 units), Hyundai Motor India (42,600), Honda Cars (18,009). Among the others are Volkswagen India (17,313), Nissan Motor (12,809) and Kia Motor India (7,713). The rebound in exports assumes significance as in 2023-24, the overseas sales saw an increase of 1.5 per cent with 6,72,000 units as compared to 6,62,703 units in 2022-23.
In domestic market, passenger vehicle wholesales remained flat at 10,26,006, recording a growth of just 3 per cent Y-o-Y. (Monthly figure does not include data for Tata Motors).
“Sales of passenger vehicles in Q1 of 2024 has been the highest ever of Q1 and also crossed 1 million (10,26,006) units in Q1 for the first time, with a growth of 3 per cent, compared to the previous year. Two-wheelers also posted a growth of 20.4 per cent in this quarter, compared to last year, with sales of 49,85,631 units,” said Rajesh Menon, director general, SIAM.
Commenting on sales data of Q1 for 2024-25, Vinod Aggarwal, SIAM president, said: “All segments viz., passenger vehicle, commercial vehicle, three-wheeler and two-wheelers posted growth in Q1 of 2024-25 over the Q1 of last year. While passenger vehicles and commercial vehicles have witnessed moderate growth, the two wheelers and three wheelers have posted very handsome growth in double digits.
“Within two-wheelers, scooters have posted even higher growth based on some green shoots of recovery in entry level two-wheelers. With positive outlook on monsoon and coming festive season, the automotive sector is poised to perform better in the balance part of the year.”
