Automobile exports dip in FY24
Automobile exports from India declined 5.5 per cent in FY24 due to the monetary crisis in various overseas markets, according to the latest data shared by industry body SIAM. Overall exports stood at 45,00,492 units in the last fiscal compared to 47,61,299 units in FY23. However, the January-March quarter this year has seen good recovery, especially for two-wheelers, indicating better potential for the rest of the year. Maruti Suzuki led the segment with shipment of 2,80,712 units against 2,55,439 units in 2022-23. Hyundai Motor India exported 1,63,155 units last fiscal. It had shipped 1,53,019 units in FY23. Kia Motors exported 52,105 units, while Volkswagen India shipped out 44,180 units last fiscal. Nissan Motor India and Honda Cars chipped in with 42,989 and 37,589 units, respectively, in the 2023-24 fiscal, as per a report.
Source: Exim News Service: New Delhi, April 23