Passenger vehicle exports from India rise 15% in FY23; Maruti Suzuki leads segment

Passenger vehicle exports from India rose 15 per cent in FY23 with Maruti Suzuki India leading the segment with dispatches of over 2.5 lakh units, as per the latest data by industry body SIAM. The total passenger vehicle (PV) exports stood at 6,62,891 units in 2022-23 fiscal as compared to 5,77,875 units in 2021-22.

Passenger car shipments saw a 10 per cent growth at 4,13,787 units, while utility vehicle exports rose 23 per cent at 2,47,493 units during the last fiscal, the data by the Society of Indian Automobile Manufacturers (SIAM) showed.

Exports of vans, however, declined to 1,611 units last fiscal, from 1,853 units in the 2021-22 fiscal year.

Maruti Suzuki India (MSI) led the exports last fiscal in the passenger vehicle segment. It was followed by Hyundai Motor India and Kia India.

MSI, the country's largest carmaker, exported 2,55,439 PVs last fiscal, an 8 per cent increase as compared to 2,35,670 units in the 2020-21 fiscal year.

The carmaker exports to various markets, including Latin America, ASEAN, Africa, the Middle East and neighbouring regions.

Hyundai Motor India's overseas dispatches stood at 1,53,019 units last fiscal, up 18 per cent from 1,29,260 units in 2021-22.

Similarly, Kia India exported 85,756 units across global markets in the period under review as compared to 50,864 units in 2021-22.

Nissan Motor India shipped 60,637 units; Renault India 34,956 units; Volkswagen India 27,137 units in FY23.

Honda Cars India exported 22,710 units, while Mahindra & Mahindra chipped in with 10,622 units in the 2022-23 fiscal.

Overall automobile exports from India last fiscal stood at 47,61,487 units, down 15 per cent from 56,17,359 units in 2021-22.

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