Maruti tops export chart in FY2024; Hyundai, Kia follow

Toyota, Skoda among those who recorded highest YoY growth in the fiscal year.

Published On Apr 18, 2024 08:00:00 AM

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Maruti tops export chart in FY2024; Hyundai, Kia follow

Honda's exports saw a significant annual increase of 66 percent.

Maruti Suzuki led passenger vehicle (PV) exports in FY2024 with 2,80,712 units shipped to foreign countries, registering a YoY growth of 10 percent. A total of 6,72,105 cars, utility vehicles and vans were exported overseas in FY2024, up 1.4 percent on FY2023’s 6,62,703 units.

Maruti leads with 2,80,712 units exported
Hyundai second with 1,63,155 exports; 7 percent growth
Kia registers YoY decline of 39 percent

Maruti retained the top exporter title for the third year running, and this is its best export performance yet; Maruti exports 17 models, including the Grand Vitara. At present, the Dzire sedan, the Swift, S-Presso and Baleno hatchbacks, and the Brezza SUV have the maximum exports. Maruti Suzuki exports its made-in-India products to nearly 100 countries.

Hyundai Motor India, with exports of 1,63,155 units, recorded a 7 percent growth in FY2024. Hyundai’s top PV exports included the and i10 and i20 hatchbacks (80,790 units), the new sixth-generation Verna sedan (55,170 units), Venue and Exter SUVs (12,504 units), flagship Alcazar SUV (10,825 units) and the Creta SUV (3,859 units). Kia India emerged as the third biggest exporter but witnessed a decline in numbers: 52,105 units versus 85,756 units in FY2023 – a decline of 39 percent.

Volkswagen India jumped two positions to take the fourth spot with 44,180 units exported for a 63 percent YoY growth. The German carmaker was followed by Nissan Motor India with 42,989 units shipped at a 29 percent decline as compared to FY2023. Honda Cars India occupied the sixth position with an annual increase in exports of 66 percent at 37,589 units.

Toyota Kirloskar Motor witnessed a strong export demand this fiscal. Total overseas shipments of 17,383 units are up 374 percent on a low year-ago base of 3,668 units, helping it climb three places on the list.

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