India’s passenger vehicle exports rose by 268,000 units over four years, with Maruti Suzuki contributing 70 percent.
Passenger vehicle exports from India have surged by 268,000 units over the past four financial years, with Maruti Suzuki India contributing nearly 70 percent of the growth. According to industry data, exports stood at 404,397 units in the 2020-21 fiscal year, rising to 577,875 units in 2021-22, and reaching 662,703 units in 2022-23. In the last fiscal year, exports totaled 672,105 units, marking an increase of 267,708 units since 2020-21.
Maruti Suzuki has been a significant driver of this growth, accounting for 70 percent of the incremental increase, with its export shipments rising by 185,774 units from FY21 to FY24. Rahul Bharti, Executive Officer Corporate Affairs at Maruti Suzuki India, attributed this success to factors such as the addition of new models, adherence to global production standards, and a strategic partnership with Toyota.
The company currently exports models to approximately 100 countries, with top markets including South Africa, Saudi Arabia, Chile, and Mexico. Other key markets are the Philippines, Indonesia, and Ivory Coast. Models like the Baleno, Dzire, Swift, S-Presso, Grand Vitara, Jimny, Celerio, and Ertiga are among Maruti Suzuki’s top exports.
SIAM data indicates that overall passenger vehicle exports in FY24 increased by 1.4 percent over FY23, totaling 672,105 units. Maruti Suzuki exported 280,712 units last fiscal, up 10 percent from 255,439 units in FY23. Rival Hyundai also saw an increase, shipping 163,155 units in FY24 compared to 153,019 units in the previous fiscal year, a rise of 7 percent.
