India's car exports fall by 21% in 2023: SIAM

In 2022, total exports were 52,04,966 units; in 2023, they were 42,85,809 units.

PTI

---

As several international markets continued to experience financial and geopolitical difficulties, automobile shipments from India fell 21% last year, according to the most recent SIAM data. The total number of exports was 42,85,809 units in 2023 as opposed to 52,04,966 units in 2022.

Passenger car shipments increased by 5% from 6,44,842 units in 2022 to 6,77,956 units last year.

Exports of two-wheelers, three-wheelers, and commercial vehicles, on the other hand, decreased last year.

Exports of two-wheelers fell 20% from 40,53,254 units in 2022 to 32,43,673 units last year.

In a similar vein, exports of commercial vehicles fell from 88,305 to 68,473 units in the previous year.

Three-wheeler exports decreased 30 % to 2,91,919 units last year from 4,17,178 units.

Society of Indian Automobile Manufacturers (SIAM) Director General Rajesh Menon told PTI that in 2023, passenger car exports were driven by model launches and pent-up demand in regions like South Africa and the Gulf area.

"A smoother supply chain compared to the prior year, when there were supply-side interruptions, notably those involving semiconductors, can also be contributed to the increase. However, the difficulties in obtaining foreign currency remain for the areas where two- and three-wheelers are sold, which has restrained demand," he added

Maruti Suzuki India dominated passenger car exports in the April–December fiscal year, shipping 2,02,786 units, up 6% from 1,92,071 units in the same period last year.

In comparison to 1,19,099 units supplied during the same period previous fiscal year, Hyundai Motor India shipped 1,29,755 units during the third quarter of this fiscal year.

From April through December of this fiscal year, Kia India shipped 47,792 units; Volkswagen exported 33,872; Nissan exported 31,678; and Honda Cars exported 20,262 units.