Vehicle Export: According to the data of vehicle manufacturing organization SIAM, there has been a decline of 5.5 percent in the export of vehicles from the country in the last financial year 2023-24. SIAM says that due to currency crisis in many foreign markets, there has been a decline in the export of vehicles from the country. According to the data, total vehicle exports in the last financial year stood at 45,00,492 units, while in the last financial year 2022-23 this figure was 47,61,299 units.
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SIAM President Vinod Aggarwal says that the situation in various foreign markets is still unstable. “Some countries, where we are very strong in exports of commercial vehicles and two-wheelers, are facing foreign exchange related problems,” he said. While there was a significant decline in the exports of commercial vehicles, two-wheelers and three-wheelers in the last financial year, there was a slight increase in the exports of passenger vehicles.
He said that some good growth has been seen in the January-March quarter this year. Especially in the two-wheeler sector. Aggarwal said, “We are confident that the situation will improve in the future.” Exports of passenger vehicles increased by 1.4 percent to 6,72,105 units in the last financial year, which was 6,62,703 units in the financial year 2022-23.
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During the period under review, Maruti Suzuki exported 2,80,712 vehicles. Maruti’s exports in the last financial year were 2,55,439 units. Hyundai Motor India exported 1,63,155 units in the last financial year. In the last financial year it had exported 1,53,019 vehicles.
Kia Motors exported 52,105 vehicles during this period, while Volkswagen India exported 44,180 units in the last financial year. Whereas Nissan Motor India and Honda Cars exported 42,989 and 37,589 units respectively in the financial year 2023-24.
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In the last financial year, exports of two-wheelers declined by 5.3 percent to 34,58,416 units. Whereas in the last financial year, exports in this segment were 36,52,122 units.
Similarly, exports of commercial vehicles declined by 16 percent to 65,816 units. Exports of commercial vehicles in 2022-23 were 78,645 units. Three-wheeler exports also declined by 18 percent to 2,99,977 units from 3,65,549 units in the last financial year.
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