(MENAFN – KNN India) New Delhi, Oct 21 (KNN) India’s automobile exports surged 14% in the first half of the fiscal year, reaching 2,528,248 units compared to 2,211,457 units last year, according to the Society of Indian Automobile Manufacturers (SIAM).
SIAM President Shailesh Chandra credited the growth to recovering markets in Latin America and Africa, which had previously been affected by economic challenges.
Passenger vehicle exports rose 12% to 376,679 units, with Maruti Suzuki leading at 147,063 units. Hyundai experienced a slight decline of 1% with 84,900 units exported.
Two-wheeler exports climbed 16% to 1,959,145 units, including a 19% increase in scooter shipments to 314,533 units and a 16% rise in motorcycle exports to 1,641,804 units.
Commercial vehicle exports grew 12% to 35,731 units, though three-wheeler shipments dipped slightly by 1% to 153,199 units.
This growth contrasts with a 5.5% decline in the previous fiscal year due to economic issues in global markets, indicating a rebound in the international demand for Indian automobiles.
(KNN Bureau)
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