Maruti leads exports in FY2025 first half with over 1.47 lakh units

Even though passenger vehicle leader Maruti Suzuki’s domestic market wholesales, at 8,44,614 units, were down 3 percent year on year (YoY) in the April-September 2024 period, the company is riding a wave of export demand. In the first half of FY2025, Maruti Suzuki shipped a total of 1,47,063 cars, SUVs and MPVs, up 12 percent YoY. This number is 52 percent of its record export sales of 2,80,712 units in FY2024 and ensures that the carmaker is likely to retain the title of ‘India’s top PV exporter’ for the fourth fiscal year in a row.

1. Maruti SUVs, MPVs account for 50 percent of exports in H1 FY2025
2. Hyundai retains No. 2 spot despite 1 percent drop in exports
3. Honda is the second-highest SUV, MPV exporter, with over 10,600 units

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Maruti Suzuki exports: FY2025 first half

As per export data released by industry body SIAM, a total of 3,76,679 units were exported in April-September 2024, up 12 percent YoY (H1 FY2024: 3,36,754 units), which gives Maruti Suzuki a 39 percent share of total made-in-India passenger vehicle exports.

The company, which exports to nearly 100 countries and sees Africa, Latin America, Asia and the Middle East as its key markets, currently exports 18 models, with the Fronx being the latest to join the export portfolio. While exports of hatchbacks and sedans at 70,510 units were down 30 percent YoY, the automaker also shipped 111 Eeco vans in H1 FY2025. UVs – 72,908 units and up 179 percent – accounted for 50 percent of Maruti exports, clearly establishing their similar importance both in the domestic and export markets for the company. What has added tailwinds to SUV exports is the kicking off of overseas shipments of the Grand Vitara and, in early August, of the Fronx compact SUV, which has now been launched in Japan. Other Maruti models with high export demand include the Brezza SUV, Dzire sedan, and the Swift, S-Presso and Baleno hatchbacks.

Hyundai exports: FY2025 first half

Hyundai Motor India, with exports of 84,900 units, sees a YoY decline of 1 percent. The company, which lost the top exporter title to Maruti Suzuki in FY2022, has been stretched for manufacturing capacity and has focused on catering to demand in the domestic market. In FY2024, the company’s manufacturing plants in Chennai operated at 97.10 percent of their total capacity. With additional capacity coming its way with the acquisition of GM India’s Talegaon plant, which is expected to commence commercial operations partly in the second half of FY2026, Hyundai will be better placed to cater to exports in the coming years.

The i20 is among Hyundai's most exported models.

Hyundai’s top exports included i10 and i20 hatchbacks, the Aura sedan (42,546 units, down 3 percent), the new sixth-generation Verna sedan (27,061 units, up 6 percent), the Venue and Exter SUVs (8,927 units, up 6 percent), the flagship Alcazar SUV (4,702 units, down 19 percent) and the Creta SUV (1,664 units, down 34 percent).

Volkswagen exports: FY2025 first half

The big news, though, is Volkswagen India, which witnessed strong export demand in FY2024 (44,180 units), has shipped 35,079 cars and SUVs, up 74 percent, and moved up to the No. 3 position from No. 4 in Q1 FY2025 and FY2024. Halfway into FY2025, VW India is now only 9,101 units shy of its FY2024 exports.

Leading the charge for the German carmaker is the made-in-India Virtus global sedan with 24,733 units, up 84 percent (H1 FY2024: 13,459) and the Taigun midsize SUV with 10,346 units, up 53 percent (H1 FY2024: 6,747). Both models are built on VW’s MQB A0 IN platform (as are Skoda Auto India’s Slavia sedan and Kushaq SUV).

Nissan exports: FY2025 first half

Nissan Motor India, with 33,059 units, up 64 percent, is ranked fourth on the PV export ladder-board. The Sunny sedan continues to be its top export model with 26,764 units, (up 56 percent), followed by the Magnite SUV (6,295 units, up 112 percent YoY). On June 29, the company crossed the cumulative export milestone of 1.1 million units, with a Magnite being the milestone SUV shipped from the Ennore Kamarajar Port.

Honda exports: FY2025 first half

Honda Cars India, which was in third position in Q1 FY2025 with 18,009 units, is now down to No. 5 in H1 FY2025 with 31,775 units, up 229 percent over H1 FY2024’s 9,669 units. The Japanese carmaker, which is back in the SUV game with the Elevate, has received a huge boost with exports of the made-in-India WR-V (the rebadged Elevate SUV). At 22,557 units exported, the Elevate accounts for 71 percent of Honda’s exports in H1 FY2025. Other exports comprise the City (8,678 units) and the Amaze (540 units).

Honda is the second-highest UV exporter – the 10,659 Elevates/WR-Vs in Q1 FY2025 give it a UV export share of 14 percent of total exports of 76,281 units by India UV Inc. Since August 2023, when Elevate exports to Japan began, HCIL has shipped a total of 61,863 units. The Elevate has also eclipsed City sedan exports (7,080 units) in Q1 FY2025.

Kia exports: FY2025 first half

Kia India, which was the No. 3 PV exporter in FY2024 (52,105 units, down 39 percent), is now down to the No. 6 position. The 14,828 units constitute a marked 62 percent YoY decline (H1 FY2024: 39,247 units). Numbers have been dragged down because of the YoY decline in its top two export models – the Sonet (6,439 units, down 74 percent) and Seltos (3,362 units, down 67 percent). The Carens MPV, however, has bucked the trend with shipments of 5,027 units, up 14 percent YoY.

Toyota exports: FY2025 first half

Toyota Kirloskar Motor, which has increased production capacity at its plants in Bidadi, Karnataka, retains its seventh ranking (as of FY2024) in H1 FY2025 with 12,288 units, up 49 percent YoY (H1 FY2024: 8,264). The export models are both UVs – the Rumion MPV and the Urban Cruiser Hyryder.

Citroen exports: FY2025 first half

PCA Motors, the maker of Citroen cars in India, which had dispatched 3,278 units abroad in FY2024, has exported 2,259 units in H1 FY2025, up 105 percent. On April 11, 2024, Citroen India dispatched the inaugural shipment of 500 units of the made-in-India Citroen e-C3 hatchbacks to Indonesia from Kamarajar Port to become the first multinational carmaker in India to export EVs.

Tata exports: FY2025 first half

Tata Motors, with 1,512 units, shipped 109 units more in H1 FY2025 than it did in the year-ago period.

Export numbers in H1 FY2025 bode well for total exports

Given that FY2024 exports, at 6,72,105 units, were up just 1.4 percent YoY, India Passenger Vehicle Inc’s total overseas shipments of 3,76,679 units, which are a 12 percent YoY increase, constitute a good opening quarter for FY2025 and augur well for the ongoing fiscal. At the halfway stage in FY2025, the difference stands at 2,95,426 units.

India PV Inc's best-ever export year was FY2017, when a total of 7,58,830 units were shipped overseas (with Hyundai Motor India, Maruti Suzuki and Nissan Motor India leading the charge). PV exports had slid to their lowest level in the past 10 years to 4,04,400 units in FY2021.

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