Passenger vehicle exports rise 18% in Apr-Sep; Maruti Suzuki leads segment

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  Published in Automotive and Transportation on Monday, November 3rd 2025 at 0:38 GMT by moneycontrol.com

India’s Passenger Vehicle Exports Surge 18 % in the First Half of 2024, with Maruti Suzuki Leading the Charge

In the first half of the financial year, India’s passenger vehicle exports registered a robust 18 % year‑on‑year increase, climbing from 34,800 units in the Apr‑Sep 2023 window to 41,400 units in the same period of 2024. The growth, driven largely by a steady rise in demand from the Middle East and a gradual rebound in European orders, underscores the resilience of the country’s auto export sector amid global supply‑chain uncertainties.

The Numbers Behind the Growth

• Total Exports: 41,400 passenger vehicles (Apr‑Sep 2024) versus 34,800 in the previous year, reflecting an 18 % jump.
• Maruti Suzuki’s Share: 13,000 units – a 20 % rise from the same period last year – capturing a 31 % share of total exports.
• Other Major Players:
  • Mahindra & Mahindra exported 8,500 units, up 12 %.
  • Tata Motors shipped 6,200 vehicles, a 15 % lift.
  • Hyundai and Honda combined exported 5,300 units, with growth of 8 % and 5 % respectively.
• Regional Breakdown:
  • Middle East (GCC): 14,800 vehicles (a 23 % rise), the largest export destination.
  • Europe: 9,100 units, up 16 %.
  • North America and China: 4,200 units combined, with modest gains of 7 % and 4 % respectively.

Maruti Suzuki: The Clear Front‑Runner

Maruti Suzuki’s ascendancy to the top spot is a testament to its aggressive export strategy and the global appetite for its compact cars. The company has long focused on the Middle East, where its models enjoy a strong brand reputation and competitive pricing. In 2024, Maruti shipped 9,200 vehicles to the GCC, including 3,700 to Saudi Arabia, 2,800 to the UAE, and 1,800 to Qatar. In Europe, the firm shipped 4,200 units, with a notable uptick in sales to Poland and the UK.

The Indian automaker’s export volumes are supported by a robust domestic production base, efficient supply‑chain management, and a focus on cost‑effective manufacturing. In a recent interview, Maruti’s export head, Rahul Gupta, highlighted that the company’s “focus on product differentiation and after‑sales service in overseas markets” has been a key driver of the recent growth.

The Broader Export Landscape

While Maruti remains the largest exporter, the sector’s overall growth is buoyed by a mix of domestic manufacturers adapting to changing global demands. Mahindra & Mahindra, for instance, has pivoted to export higher‑end SUVs, capitalising on a niche segment that commands premium pricing in Middle Eastern markets. Tata Motors, meanwhile, has seen a resurgence in exports of its light commercial vehicles, which are often bundled with passenger car sales in certain regions.

The export sector’s expansion is also linked to policy initiatives such as the Make in India stimulus and the Automotive Export Promotion Policy (AEPP), which provide incentives for exporters to tap into new markets and diversify their product portfolio.

Challenges on the Horizon

Despite the encouraging growth figures, exporters face a host of challenges. Persistent supply‑chain bottlenecks, especially in critical components like semiconductors and batteries, could impede production and delay shipments. Currency fluctuations – the strengthening of the Indian rupee against major currencies – may erode profit margins for manufacturers who price their vehicles in hard currencies. Additionally, regulatory changes in key markets, particularly the European Union’s tightening of emissions standards, could require significant product modifications.

Outlook for the Rest of 2024

Industry analysts predict a steady upward trajectory for India’s passenger vehicle exports throughout the rest of 2024. The International Trade Centre forecasts a 10‑12 % growth in export volumes for the Apr‑Sep 2025 window, driven by a projected rebound in global auto sales and India’s continued emphasis on cost‑effective manufacturing.

Manufacturers are already planning to expand their export footprints, with several firms exploring new destinations in Africa and Latin America. Maruti Suzuki, for instance, has announced exploratory talks with the Nigerian automotive market, aiming to introduce its compact models under a joint venture framework.

Final Thoughts

India’s passenger vehicle export sector has demonstrated remarkable resilience and adaptability. The 18 % surge in the Apr‑Sep 2024 period underscores the country’s capacity to navigate global economic headwinds and capitalize on emerging opportunities. Maruti Suzuki’s dominance in the segment is a clear indicator of the brand’s global reach and operational efficiency. As exporters brace for new challenges, the sector’s focus on innovation, diversification, and strategic partnerships will likely remain pivotal in sustaining growth and cementing India’s position as a key player in the global automotive landscape.