In fiscal year 2024, around 672.1 thousand passenger cars were exported from India. It took around seven years for the Indian passenger vehicle market to make the jump in production volume from 3.7 million to 4.6 million. In 2023, over 3.6 million passenger vehicles produced were sold domestically. Maruti Suzuki, the country’s biggest car manufacturer, had the leading share in sales volume of passenger cars.
Domestic overview
India was estimated to be the third largest passenger vehicle market in 2023. In 2024, two-wheelers dominated the Indian automotive industry with a share of about 80 percent. That year, in comparison to the three million passenger vehicles produced, the production volume of two-wheelers was around 17.7 million.
What’s in store
Robust economic development in the country will presumably be an important factor to reach the next production milestone of five million vehicles. The industry is recovering slowly from the economic slowdown in 2019 and it was further affected by the coronavirus pandemic, and their major effects on production and sales volume across all sectors.
Export volume of passenger vehicles from India from financial year 2015 to 2024
(in 1,000s)
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SIAM India. (September 19, 2024). Export volume of passenger vehicles from India from financial year 2015 to 2024 (in 1,000s) [Graph]. In Statista. Retrieved November 21, 2024, from https://www.statista.com/statistics/269752/passenger-car-exports-from-india-since-2003/
SIAM India. "Export volume of passenger vehicles from India from financial year 2015 to 2024 (in 1,000s)." Chart. September 19, 2024. Statista. Accessed November 21, 2024. https://www.statista.com/statistics/269752/passenger-car-exports-from-india-since-2003/
SIAM India. (2024). Export volume of passenger vehicles from India from financial year 2015 to 2024 (in 1,000s). Statista. Statista Inc.. Accessed: November 21, 2024. https://www.statista.com/statistics/269752/passenger-car-exports-from-india-since-2003/
SIAM India. "Export Volume of Passenger Vehicles from India from Financial Year 2015 to 2024 (in 1,000s)." Statista, Statista Inc., 19 Sep 2024, https://www.statista.com/statistics/269752/passenger-car-exports-from-india-since-2003/
SIAM India, Export volume of passenger vehicles from India from financial year 2015 to 2024 (in 1,000s) Statista, https://www.statista.com/statistics/269752/passenger-car-exports-from-india-since-2003/ (last visited November 21, 2024)
Export volume of passenger vehicles from India from financial year 2015 to 2024 (in 1,000s) [Graph], SIAM India, September 19, 2024. [Online]. Available: https://www.statista.com/statistics/269752/passenger-car-exports-from-india-since-2003/