India’s automobile exports achieved remarkable growth in 2024, rising 19% year-on-year. This surge, driven by growing demand in emerging markets such as Latin America and Africa, highlights the resilience and global competitiveness of the Indian automotive industry.
According to data from the Society of Indian Automobile Manufacturers (SIAM), total automobile exports grew to 50,98,810 units in 2024 compared to 42,85,809 units in 2023. This strong growth was driven by stellar performance in the two-wheeler, passenger vehicle and commercial vehicle segments.
Improving demand from emerging markets
The revival of demand in emerging markets played a key role in this impressive growth. Rajesh Menon, Director General of SIAM, said, “Last year saw a revival in demand for Indian automobiles from emerging markets such as Latin America and Africa.”
Strong growth across vehicle categories
1. Two-wheelers dominated the export charts
Two-wheelers led the way with an impressive 23% growth, reaching 39,77,162 units in 2024, up from 32,43,673 units in the previous year. Motorcycles played a key role in this segment, registering a 24% growth with 33,97,586 units exported.
Scooter exports also witnessed strong momentum, growing 17% to 5,73,230 units from 4,91,329 units in 2023. Notably, mopeds experienced an incredible growth of 89%, from a small base, with 6,346 units exported.
2. Steady increase in passenger vehicle exports
Passenger vehicle exports registered a growth of 10%, totalling 7,43,976 units in 2024 as against 6,77,956 units in 2023. This growth was primarily driven by the utility vehicle segment, which witnessed a significant growth of 33%, exporting 3,23,621 units.
Van exports also grew by 14%, reaching 8,207 units. Passenger car shipments, however, witnessed a decline of 4%, falling from 4,27,876 units to 4,12,148 units in 2023.
3. Marginal increase in exports of commercial and three-wheelers
Commercial vehicle exports grew 6% and reached 72,511 units in 2024, compared to 68,473 units in 2023.
Three-wheeler exports grew marginally but saw a 2% increase. 2,98,235 units were exported in 2024, compared to 2,91,919 units in the previous year.
Bright future for automobile exports
The 19% growth in automobile exports underlines the resilience of India’s auto industry, especially amid the challenges posed by global economic uncertainties. Emerging markets have proven to be a key growth driver, providing ample opportunities for Indian manufacturers to expand their global footprint.
As demand continues to recover across key sectors, the Indian automotive sector is poised for continued growth in 2025 and beyond. With its focus on innovation, quality, and affordability, India continues to be a key player in the global automotive export market.
