Monday, January 24, 2022

Vehicle exports increase over 14 lakh units in Q1 of FY22

Automobile exports from India improved in Q1 with all vehicle segments, including passenger vehicles and two-wheelers, witnessing growth after the pandemic situation improved in various international markets.

According to the latest SIAM data, total vehicle exports during the April-June quarter in this fiscal stood at 14,19,430 units, as against 4,36,500 units in the same period of 2020-21, Which saw massive disruption due to the nationwide COVID lockdown, hampering sales as well as overseas shipments.

Two-wheeler shipments were better than the previous three years, with the export numbers of passenger vehicles, three-wheelers and commercial vehicles yet to catch up with the numbers in the first quarter of FY 2018-19.

Passenger vehicle exports increase 191% in Q1 of FY22

In the April-June quarter, passenger vehicle exports from the country stood at 1,27,115 units as against 43,619 units in the same period of 2020-21. Passenger car exports stood at 79,376 units, utility vehicle shipments at 47,151 units while van exports stood at 588 units.

Top passenger vehicle segment exporters

Maruti Suzuki India led the passenger vehicle segment with exports of 45,056 units, followed by Hyundai Motor India with exports of 29,881 units during the period.

Kia Motors shipped 12,448 units during the quarter, while Volkswagen India sold 11,566 units.

Two-wheeler exports increased to 11,37,102 units in the April-June period as compared to 3,37,983 units in the same period of FY20.

Top commercial vehicle exporters 

Similarly, commercial exports stood at 16,006 units during the first quarter, as compared to 3,870 units in the April-June period of 2020-21.

Tata Motors led the segment with shipments of 6,653 units, followed by Mahindra & Mahindra with 3,931 units.

Three-wheeler exports increased to 1,37,582 units during the period, as against 50,631 units in the first quarter of 2020-21.

Total domestic sales stand at 31.8 lakh units

Domestic wholesales across categories stood at 31,80,039 units in the first quarter, as against 14,92,612 units in the April-June period of 2020-21.

In comparison, the total dispatches in the domestic market stood at 60,84,478 units in the first quarter of the financial year 2019-20.

Role of Automobile industry in India

The Indian auto industry truly embodies the spirit of Atmanirbhar Bharat. The industry contributes 6.4 per cent to GDP, manufacturing contributes about 35 per cent to GDP, directly supports more than 8 million jobs (OEMs, suppliers and dealers) and more than 30 million across the value chain. It is responsible for a cumulative investment of about $35 billion over the past 10 years and generates export revenue of $27 billion, which is about 8 per cent of the total merchandise exports from India.

The auto industry does a lot of good for the MSME sector which is a huge employment generator for India and a vital force in the Indian economy. The MSME share of value-addition to a car is 35 per cent. In addition, the automotive aftermarket provides economic opportunities to thousands of MSMEs.

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