Demand revival in EMs drives 19% growth in automobile exports in 2024

Automobile exports from India rose 19 per cent year-on-year in 2024 led by a robust dispatch of two-wheelers, passenger vehicles and commercial vehicles, according to SIAM data.

Overall shipments rose to 50,98,810 units last year, up 19 per cent from 42,85,809 units exported in 2023.

"Last year saw revival in demand for the Indian automobiles from emerging markets like Latin America and Africa," Society of Indian Automobile Manufacturers (SIAM) Director General Rajesh Menon told PTI when asked about reasons for exports growth last year.

In 2024, passenger vehicle exports grew 10 per cent to 7,43,976 units as compared to 6,77,956 units in January-December period of 2023.

Utility vehicle shipments rose 33 per cent year-on-year to 3,23,621 units while van shipments also jumped 14 per cent annually to 8,207 units.

Passenger car dispatches, however, declined 4 per cent last year to 4,12,148 units as compared to 4,27,876 units in 2023.

Two-wheeler exports rose 23 per cent to 39,77,162 units as compared to 32,43,673 units shipped in 2023, led by motorcycles which grew by 24 per cent to 33,97,586 units.

Scooter shipments rose to 5,73,230 units last year from 4,91,329 units in 2023.

Besides, moped exports rose to 6,346 units last year, registering an annual growth of 89 per cent.

Commercial vehicle shipments witnessed a growth of 6 per cent last year at 72,511 units as against 68,473 units in 2023.

Three-wheeler shipments grew by 2 per cent to 2,98,235 units as against 2,91,919 units in 2023.