India's passenger vehicle exports rise 26% in Q1

India's passenger vehicle exports rose by 26 percent in April-June 2022 aided by enhanced shipments to Latin America and Africa and a low base of the year-ago quarter that was hit by the second wave of COVID-19.

As per the latest data released by the Society of Indian Automobile Manufacturers (SIAM), passenger vehicle shipments rose to 1,60,263 units in the April-June period of this fiscal as compared with 1,27,083 units in the same quarter of 2021-22.

Passenger car shipments saw an 88 percent year-on-year growth at 1,04,400 units while utility vehicle exports rose 18 percent to 55,547 units during the period under review, SIAM data showed.
Export of vans declined to 316 units in April-June as compared with 588 units in the same period of the last fiscal.

"In the recent past, there has been a higher penetration of India manufactured passenger vehicles in Latin America and Africa as the economies of these regions improve," SIAM Director General Rajesh Menon told PTI.

Indian manufactured vehicles meet the consumer requirement of these regions as the brands are global, have good build quality and are cost competitive, he added.

"Effect of trade agreement with Chile couple of years ago, has also recently helped in improving the competitiveness of India manufactured passenger vehicles," Menon noted.

Domestic car leader Maruti Suzuki India (MSI) led the exports during the first quarter, followed by Hyundai Motor India and Kia India at the second and third positions, respectively.

MSI exported 68,987 PVs in the period under review, up 53 percent from 45,056 units in the same period of the previous fiscal year.

MSI's top PV export markets include Latin America, ASEAN, Africa, the Middle East, and neighboring regions while its top five export models comprise Baleno, Dzire, Swift, S-Presso and Brezza.

Hyundai Motor India's international dispatches stood at 34,520 units during the June quarter, up 15 percent from the year-ago period.

Similarly, Kia India exported 21,459 units across global markets in the period under review as compared with 12,448 units in the same period of last fiscal year.

Nissan Motor India shipped 11,419 units, while Volkswagen exported 7,146 units during the June quarter.

Renault and Honda Cars also chipped in with 6,658 units and 6,533 units respectively during the period under review.