India Business Journal - Maruti makes up nearly 70% of India’s passenger vehicle exports in last 4 years

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Maruti makes up nearly 70% of India’s passenger vehicle exports in last 4 years

IBJ Bureau
Jun 10, 2024

Passenger vehicle exports from India rose by 2.68 lakh units in the last four financial years, with Maruti Suzuki India accounting for nearly 70 per cent of the incremental shipments during the period, the PTI reported on Sunday.

According to industry data, passenger vehicle exports in the financial year 2020-21 stood at 4,04,397 units. It rose to 5,77,875 units in 2021-22 and to 6,62,703 units in 2022-23. In the last financial year, exports stood at 6,72,105 units, an increase of 2,67,708 units since 2020-21.

Addition of more models, adherence to global production standards and tie-up with Toyota helped Maruti Suzuki in ramping up the exports volume, Rahul Bharti, Maruti Suzuki India’s corporate affairs executive officer told the PTI.

He noted that the company was currently exporting models to around 100 nations across the globe. Top overseas markets for the company currently are South Africa, Saudi Arabia, Chile and Mexico. Other major markets include the Philippines, Indonesia and Ivory Coast.

The automaker exports models like Baleno, Dzire, Swift, S-Presso, Grand Vitara, Jimny, Celerio and Ertiga.

According to industry body SIAM’s data, overall passenger vehicle exports stood at 6,72,105 units in 2023-24, an increase of 1.4 per cent over 6,62,703 units exported in the previous year.