Export of vehicles declines 11% y-o-y in April-January: SIAM

Export of automobiles across categories from India declined around 11 per cent year-on-year (y-o-y) between April and January to 36,11,614 units, compared with 40,46,115 units in the same period in the last financial year (FY23).

• Also read:Global automotive aftermarket presents over $35 billion exports opportunity: ACMA

In the total passenger vehicle (PV) segment, while passenger car exports grew, the utility vehicle segment declined five per cent y-o-y to 1,88,819 units during the period, compared with 1,98,966 units in the same period in the last financial year.

Export of total two-wheelers also declined around 12 per cent y-o-y to 28,03,217 units in the April-January period, compared with 31,71,461 units in the same period in the last financial year, the recent report shared by Society of Indian Automobile Manufacturers (SIAM) indicated.

Segment-wise, export of motorcycles declined but that of scooters grew y-o-y during the period under review. Export of motorcycles declined around 16 per cent y-o-y to 23,80,465 units, against 28,27,909 units; export of scooters grew around 24 per cent to 4,21,096 units in the 10-month period this financial year, against 3,40,636 units in FY23.

Total three-wheelers sales declined during the period by 23.49 per cent y-o-y to 2,49,855 units, against 3,26,575 units in April-January FY23.

“Boom in demand and high waiting times on vehicles made original equipment manufacturers (OEMS) divert their production to domestic market. This, in turn, impacted export of key new models, some of them which otherwise would have been exported,” Puneet Gupta, Director, S&P Global Mobility, told businessline.

Also, transition to electric vehicles (EVs) has led to spare capacity of internal combustion engine (ICE) vehicles across the globe, thus limiting scope of exports from India to developed markets, he added.

Meanwhile, SIAM on Friday said that Uttar Pradesh recorded the highest number of vehicle sales in October-December 2023 quarter in the domestic market, followed by Maharashtra, Gujarat and Tamil Nadu.

• Also read: Auto industry must raise share of vehicles being exported to 50% from current 14%: Goyal

Uttar Pradesh clocked a total sales of 8,22,472 units across passenger and commercial vehicles; and two and three-wheeler categories. Maharashtra was second with 6,88,192 units across the four categories followed by Gujarat with 4,21,026 units and Tamil Nadu 4,19,189 units in the quarter.