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Date: 22/10/2024

Automobile exports soar

Automobile exports during the first six months of the current fiscal year rose by 14.3% year-on-year (y-o-y), led by gains in shipments of passenger vehicles (PVs) and two-wheelers. Also, there has been no impact of the Israel-Iran war as of now on the exports from India, said the Society of Indian Automobile Manufacturers (SIAM). According to SIAM data, the total of all vehicles’ exports in the April-September period stood at 25,28,248 units as compared to 22,11,457 units in the same period last year. Key markets like Latin America and Africa, which had slowed down for various reasons, have bounced back, an important factor for exports coming back. During the April-September period, exports of total PVs grew by 12% y-o-y to 3,76,679 units as compared to 3,36,754 units in the same period last year, said a report.

Source: Exim News Service: New Delhi, Oct. 21