Passenger vehicle exports rise by 2.68 lakh units in 4 years; 70 percent is Maruti Suzuki

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By Mahtab Ahmad

Passenger vehicle exports from India rose by 2.68 lakh units in the last four financial years, with Maruti Suzuki India accounting for nearly 70% of the incremental shipments during the period, PTI reported.

Maruti Suzuki contributed nearly half of overall car sales in India in 2023(Reuters)
Maruti Suzuki contributed nearly half of overall car sales in India in 2023(Reuters)

As per the industry data, passenger vehicle exports in the financial year 2020-21 stood at 4,04,397 units. It rose to 5,77,875 units in 2021-22, and to 6,62,703 units in 2022-23.

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Last fiscal, exports stood at 6,72,105 units, an increase of 2,67,708 units since 2020-21.

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In the last three fiscal years, Maruti Suzuki accounted for 70 per cent of the incremental 2,67,708 units across the industry which were shipped to overseas markets, according to the report.

The auto major’s export shipment increased by 1,85,774 units between FY21 and FY24.

Addition of more models, adherence to global production standards and tie-up with Toyota helped in ramping up the exports’ volume, Rahul Bharti, Maruti Suzuki India’s corporate affairs executive officer told PTI.

He noted that the company is currently exporting models to around 100 nations across the globe. Top overseas markets for the company currently are South Africa, Saudi Arabia, Chile and Mexico.

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Other major markets include the Philippines, Indonesia and Ivory Coast.

The automaker exports models like Baleno, Dzire, Swift, S-Presso, Grand Vitara, Jimny, Celerio and Ertiga.

As per SIAM data, overall PV exports stood at 6,72,105 units in the financial year 2023-24, an increase of 1.4% over 6,62,703 units in the previous year.

Maruti Suzuki exported 2,80,712 units in 2023-24, an increase of 10% over 2,55,439 units in 2022-23. Rival Hyundai shipped 1,63,155 units in 2023-24 as compared with 1,53,019 units in 2022-23, an increase of 7%.

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