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.