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

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

By | Edited by Abhyjith K. Ashokan
Jun 09, 2024 03:21 PM IST

Addition of more models, adherence to global production standards and tie-up with Toyota helped Maruti Suzuki to export more cars

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.

Now catch your favourite game on Crickit. Anytime Anywhere. Find out how

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

Also Read | Indian auto industry poised to reach $300 billion by 2026; Revving up for innovation and expansion

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.

Also Read | Japanese MD spends 10 years in India, recalls 3 moments that shaped his career

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%.

Also Read | BMW, Merc snuff out two lives in Mohali’s Zirakpur

Elevate your career with VIT’s MBA programme that has been designed by its acclaimed faculty & stands out as a beacon for working professionals. Explore now!

See more

Get latest updates on Petrol Price along with Gold Rate , Today Weather and Budget 2024 at Hindustan Times.

SHARE THIS ARTICLE ON
Share this article
SHARE
Story Saved
Live Score
OPEN APP
Saved Articles
Following
My Reads
Sign out
New Delhi 0C
Friday, June 21, 2024
Start 14 Days Free Trial Subscribe Now
Follow Us On