In April, data from the Society of Indian Automobile Manufacturers revealed a significant rise in exports of passenger vehicles and two-wheelers, up over 20% year-on-year. Despite a slight decline in two-wheeler exports for FY24, recent months have seen a rebound, with April witnessing a surge of 24.3% in two-wheeler exports and 21.1% in passenger vehicle exports. Hero MotoCorp CEO Niranjan Gupta expressed optimism about future growth, citing changes in distributors in key markets like Nepal and Nigeria. Maruti Suzuki also reported a substantial increase in exports, aiming to reach 300,000 units next year.
Export Surge: Passenger Vehicles and Two-wheelers Drive Growth
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