India's automobile exports surge by 19% to 5.3M in FY25
What's the story
India's automobile industry has received a major shot in the arm, with exports growing by 19% to over 5.3 million units in the fiscal year ending March 31, 2025.
The growth is primarily attributed to robust global demand for passenger vehicles, two-wheelers, and commercial vehicles.
According to the Society of Indian Automobile Manufacturers (SIAM), overall exports in FY25 stood at 53,63,089 units as compared to 45,00,494 units in FY24.
Record performance
Passenger vehicle exports hit record high
The export of passenger vehicles has witnessed a remarkable surge, increasing by 15% to touch 770,364 units in FY25.
This is the segment's best-ever yearly performance, beating the last fiscal year's figure of 672,105 units.
SIAM credits global demand for models made in India and better manufacturing quality for this.
Many companies have also started exporting to developed markets owing to these improvements.
Market growth
Utility vehicle exports soar by 54%
Utility vehicle exports have led the charge with a remarkable 54% growth, dispatching a total of 362,160 units in FY25 against the previous fiscal year's figure of 234,720 units.
Two-wheeler exports also saw substantial growth, increasing by 21% to reach an impressive figure of over four million units last fiscal year.
SIAM credits new models and markets for this expansion as well as economic stability in Africa and demand from Latin America.
Consistent demand
Three-wheeler exports maintain steady growth
Three-wheeler exports continued to grow at a steady 2% in FY25 over the previous fiscal year with 310,000 units shipped.
SIAM expects export demand in key markets like Africa and neighboring countries to continue as 'Made in India' vehicles gain popularity.
SIAM President Shailesh Chandra observed good recovery across all segments on the exports front, particularly passenger vehicles and two-wheelers.