Passenger vehicle exports from India rise by 43 percent in FY22

Passenger vehicle exports from India increased 43 per cent 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 per cent growth at 3,74,986 units, while utility vehicle exports rose 46 per cent 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 said earlier.