Export volume of passenger vehicles from India FY 2015-2024

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.