India’s auto exports soar by 22 pc in Q1

 

Automobile exports from India rose 22% year-on-year in the April-June quarter, driven by record shipments of passenger vehicles and robust growth in segments like two-wheelers and commercial vehicles, according to industry body Society of Indian Automobile Manufacturers (SIAM). Total exports across segments rose to 14,57,461 units in the first quarter as compared to 11,92,566 units in the April-June quarter of the last financial year. Passenger vehicles saw the highest-ever exports in the first quarter at 2,04,330 units, a growth of 13% compared to 1,80,483 units in the same period last year. Export growth in this segment was driven by stable demand across most markets, with strong performance in the Middle East and Latin America, SIAM said. Revival in neighbouring markets like Sri Lanka and Nepal, rising demand from Japan, and growing exports under FTAs such as Australia also contributed to the overall uptick, it noted, as per a report.

Please visit our youtube channel https://www.youtube.com/@ikargos2719 for fortnightly logistics news analysis and more!