India's Auto Exports Surge 19% in 2024, Fueled by Robust Vehicle Shipments

In 2024, automobile exports from India increased by 19 per cent compared to the previous year, driven by strong shipments of two-wheelers, passenger cars, and commercial vehicles, as per data from SIAM. Total vehicle shipments increased to 50,98,810 units last year, a rise of 19 per cent compared to 42,85,809 units sent out in 2023.

"Last year saw revival in demand for the Indian automobiles from emerging markets like Latin America and Africa," Society of Indian Automobile Manufacturers (SIAM) Director General Rajesh Menon told PTI when asked about reasons for exports growth last year.

In 2024, exports of passenger vehicles increased by 10 per cent to 7,43,976 units, up from 6,77,956 units during the January-December timeframe of 2023. Shipments of utility vehicles increased by 33 percent compared to the previous year, reaching 3,23,621 units, while van shipments also surged by 14 percent year-over-year to 8,207 units. Passenger car shipments, on the other hand, fell by 4 percent last year to 4,12,148 units, compared to 4,27,876 units in 2023.

Exports of two-wheelers increased by 23 percent to 39,77,162 units, up from 32,43,673 units sent in 2023, driven by motorcycles that surged by 24 percent to 33,97,586 units. Scooter deliveries increased to 5,73,230 units last year, up from 4,91,329 units in 2023.

Additionally, moped exports increased to 6,346 units last year, reflecting an annual growth of 89 percent. Shipments of commercial vehicles experienced a 6 percent increase last year, reaching 72,511 units compared to 68,473 units in 2023. Three-wheeler deliveries increased by 2 percent to 2,98,235 units compared to 2,91,919 units in 2023.