India's car-exports up 18% in H1 FY26: What's the reason?
What's the story
India's passenger vehicle exports have witnessed a remarkable growth of 18% in the first half of the current fiscal year. The total number of units exported during this period stood at 4,45,884, compared to last year's figure of 3,76,679. This significant increase has been mainly attributed to stable global demand and strong performance in markets like the Middle East and Latin America.
Market leader
Maruti Suzuki leads the charge
Maruti Suzuki has emerged as the leading player in India's passenger vehicle export market. The company exported over two lakh units during the April-September period, according to data from the Society of Indian Automobile Manufacturers (SIAM). This is a huge leap from last year's figures and highlights Maruti's stronghold on both domestic and international markets.
Export expansion
Hyundai and Nissan also report export increases
Hyundai Motor India and Nissan Motor India have also seen an increase in their exports during the April-September period. Hyundai exported 99,540 units, a 17% increase from last year's 84,900 units. Meanwhile, Nissan's exports rose to 37,605 units from last year's figure of 33,059. This growth trend is not limited to these two companies but extends across several other Indian automakers as well.
Market diversification
Market diversification for Indian exporters
Indian exporters have shown a clear trend of market diversification with positive growth in 24 nations during the first half of this fiscal year. This is despite a decline in shipments to the US due to high tariffs in September. The countries where Indian exporters have made their mark include South Korea, UAE, Germany, Togo, Egypt, Vietnam, and Iraq among others.