In 2024, India’s automobile industry achieved a notable 19 percent increase in exports compared to the previous year.
This growth can largely be attributed to strong demand across various segments, including commercial vehicles, two-wheelers, and passenger vehicles.
The total export volume for India’s auto industry reached approximately 5,098,810 units in 2024, marking an increase of around 19 percent from 4,285,809 units exported in 2023.
During 2024, the Indian auto sector saw a resurgence in demand from developing markets, particularly in regions like Africa and Latin America. This recovery played a key role in boosting export levels across the industry.
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Exports Across Different Auto Segments
Exports of passenger vehicles grew by approximately 10 percent in 2024, amounting to 743,976 units, an increase from the 677,956 units exported in the previous year.
Similarly, the utility vehicle segment recorded a significant 33 percent growth in exports on a year-on-year basis, with 323,621 units shipped. Additionally, exports in the van segment saw an increase of 14 percent, with 8,207 units exported in 2024.
However, the passenger vehicles segment experienced a slight decline of about 4 percent. Exports in this category were 412,148 units in 2024, down from 427,876 units in 2023.
The two-wheeler segment saw robust growth, driven by an expansion in the export of mopeds, scooters, and motorcycles.
Overall, two-wheeler exports in 2024 were 23 percent higher, totaling 3,977,162 units, compared to 3,243,673 units in 2023. Motorcycle exports alone surged by 24 percent, reaching 3,397,586 units in 2024.
Exports of mopeds increased by 6,346 units, contributing to an impressive 89 percent growth year-on-year. Meanwhile, scooter exports grew from 491,329 units in 2023 to 573,230 units in 2024.
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Exports of commercial vehicles also saw a 6 percent increase in 2024, with 72,511 units exported, compared to 68,473 units in 2023.
The three-wheeler segment showed a more modest growth of 2 percent in 2024, with exports rising from 291,919 units in 2023 to 298,235 units in 2024.
