NEW DELHI: The craze for “made in India” vehicles is intensifying in foreign markets as Indian automakers witnessed 40.2 per cent growth in January 2025 as compared to corresponding month of the previous year. All segments such as passenger vehicles (PVs), two-wheelers (2Ws), three-wheelers (3Ws), and quadricycles registered a double-digit growth in exports in January.
The passenger vehicle exports, including cars and SUVs, surged by 17 per cent in January, two-wheelers (46.2 per cent), three-wheelers (19.4 per cent) and quadricycles (42 per cent), according to Society of Indian Automobile Manufacturers (Siam) data.
In terms of volume, the passenger vehicles exports were, 57,585 units. The surge in exports were mainly due to robust demand of SUVs in foreign market as its exports increased by 61.5 per cent whereas car exports declined by 13 per cent. Among the major exporters include Maruti Suzuki, Hyundai Motor India and Honda Cars.
As far two-wheelers exports is concerned, the total exports were 3,80,528 units, with scooters witnessing 23.5 per cent growth while motorcycles witnessed a growth of 49.7 per cent. The total scooter exports were 44,875 units, motorcycles (3,35,353 units) and mopeds (300 units). Among the major exporters were Bajaj Auto Ltd, TVS Motor Company and Honda Motorcycle & Scooter India Pvt Ltd.
Also, the total three-wheelers exports were 23,859 units in January with Bajaj Auto and TVS Motor company being the major exporters.
Compared to exports, domestic auto dispatches in January were relatively muted as the industry witnessed 2.5 per cent growth. Commenting on January 2025 performance, Rajesh Menon, Director General, SIAM said, “Passenger vehicles posted its highest ever sales of January in 2025 of 3.99 lakh units, with a growth of 1.6 per cent as compared to January 2024. Three-wheelers grew by 7.7 per cent compared to January of the previous year, with sales of 0.58 lakh (58,167 units). Two-wheelers grew by 2.1 per cent in January 2025 as compared to January 2024, with sales of 15.26 Lakh units. The recent Union Budget announcements prioritising long-term economic growth and particularly the personal income tax changes and reduction in interest rates by the RBI would help in boosting consumer confidence and drive demand in the auto industry.”