Passenger Vehicle Exports from India Rise 43% in FY22

Passenger VehiclePassenger vehicle exports from India increased 43 percent in FY22, with Maruti Suzuki India leading the segment with dispatches of over 2.3 lakh units, as per the latest data by industry body SIAM. The total passenger vehicle (PV) exports stood at 5,77,875 units in 2021-22 fiscal, as compared to 4,04,397 units in 2020-21.

Passenger car shipments saw 42 percent growth at 3,74,986 units, while utility vehicle exports rose 46 percent at 2,01,036 units during the last fiscal, the data by the Society of Indian Automobile Manufacturers (SIAM) showed.

Exports of vans rose to 1,853 units in 2021-22 fiscal, from 1,648 units in the 2020-21 fiscal year.

Maruti Suzuki India (MSI) led the vertical last fiscal, followed by Hyundai Motor India and Kia India at second and third positions, respectively.

MSI, the country’s largest carmaker, exported 2,35,670 PVs last fiscal, an over two-fold increase, as compared to 94,938 units in the 2020-21 fiscal year.

MSI’s top PV export markets include Latin America, ASEAN, Africa, the Middle East and neighbouring regions, while its top five export models comprise Baleno, Dzire, Swift, S-Presso and Brezza.

MSI Managing Director and CEO Hisashi Takeuchi noted that the company’s exports increased on the back of robust demand as well as better availability of semiconductors for export-oriented units.

“Our total production for the domestic market was restricted because of the semiconductors shortage. Fortunately, we could get more semiconductors for (units meant for) the export market,” he noted.

Elaborating further, MSI Executive Director Corporate Affairs Rahul Bharti told PTI that over the years, the carmaker has developed a healthy export market globally.

“In the past two years, there was a renewed effort to make a quantum increase in our exports… We increased our product offerings, our sales and service network reach and adopted innovative ideas to go closer to the customer,” he noted.

The Suzuki – Toyota alliance was also helpful in increasing customer reach, Bharti said.

Hyundai Motor India’s foreign dispatches stood at 1,29,260 units during the last fiscal, up 24 percent from 1,04,342 from 2020-21.

Similarly, Kia India exported 50,864 units across global markets in the period under review, as compared to 40,458 units in 2020-21.

Volkswagen India exported 43,033 units in FY22, as compared to 31,089 units in FY 21.

Renault India shipped 24,117 units last fiscal, while Honda Cars chipped in with 19,323 units.

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