India's automobile exports jump 26% in September quarter
What's the story
India's automobile exports witnessed a massive 26% year-on-year (YoY) jump in the September quarter, according to data from the Society of Indian Automobile Manufacturers (SIAM). The surge was mainly driven by record shipments of passenger vehicles, two-wheelers, and three-wheelers. Passenger vehicle exports alone grew by an impressive 23% during this period compared to the same time last fiscal.
Export growth
Passenger vehicle exports saw impressive growth
Passenger car exports surged by 20.5% to 1,25,513 units in the second quarter, compared to 1,04,196 units during the same period last fiscal. Utility vehicle shipments also saw a robust annual growth of 26%, reaching 1,13,374 units between July and September this year. Van exports recorded a whopping 39% increase YoY during this period.
Information
Maruti Suzuki topped list of exporters
Maruti Suzuki India topped the list with a whopping 2,05,763 units shipped in the period under review. It was followed by Hyundai Motor India with 99,540 units. This data shows how these major players are contributing to India's growing automobile export market.
Two-wheeler boom
Two-wheeler exports surged by 25%
The two-wheeler segment witnessed a massive 25% jump in exports to 12,95,468 units between July and September this year. This is up from 10,35,997 units during the same time last year. Scooters saw a modest increase of 12% to 1,77,957 units, while motorcycles witnessed an impressive growth of 27% with exports totaling at an astounding figure of over one million units.
Vehicle surge
Commercial vehicles also witnessed healthy growth
Commercial vehicle exports also saw a healthy 22% jump to 24,011 units in the September quarter. Three-wheeler exports witnessed an even bigger spike of 51% YoY during this period. The overall automobile export figure stood at an impressive 16,85,761 units in the second quarter, up from last year's count of over 13 lakh units.