back to top
IndiaAutomobile exports from India dip 5.5% in FY24

Automobile exports from India dip 5.5% in FY24

Date:

New Delhi, Apr 14: Automobile exports from declined 5.5% in FY24 due to the monetary crisis in various overseas markets, according to the latest data shared by industry body SIAM.

Overall exports stood at 45,00,492 units in the last fiscal compared to 47,61,299 units in FY23.

Commenting on the drop in overseas shipments last fiscal, SIAM President Vinod Aggarwal said the situation remains volatile in various overseas markets.

“Some of the countries, where we are very strong with commercial vehicle and two-wheeler exports, have been facing foreign exchange-related issues,” he noted.

The last fiscal saw a sizeable drop in commercial vehicle, two-wheeler and three-wheeler shipments, although passenger vehicles grew marginally.

However, in the January-March quarter this year, we have seen good recovery, especially for two-wheelers, indicating better potential for the rest of the year, he said.

“We are very hopeful that going forward, the situation will improve,” Mr. Aggarwal added.

In the passenger vehicle segment, exports increased 1.4% to 6,72,105 units in FY24 from 6,62,703 units in FY23.

 

Northlines
Northlines
The Northlines is an independent source on the Web for news, facts and figures relating to Jammu, Kashmir and Ladakh and its neighbourhood.

Share post:

Popular

More like this
Related

Rameshwaram Cafe blast in Bengaluru: NIA raids 11 locations in four states

New Delhi, May 21: The National Investigation Agency (NIA)...

Domestic air traffic rises to 1.32 crore in April

New Delhi, May 21:  Domestic air passenger traffic rose by...

Pak-based handler was to give location, time of attack: Suspected IS terrorists tell investigators

Ahmedabad, May 21: Four suspected terrorists arrested here have...

No sign of respite from sweltering heat in swathes of India

New Delhi, May 21: A blistering heat wave swept...