According to data from SIAM, India’s automobile exports dropped by 5.5% in FY24 to 45,00,492 units compared to 47,61,299 units in FY23. SIAM President Vinod Aggarwal attributed the decline to monetary crises in overseas markets, affecting commercial vehicles, two-wheelers, and three-wheelers. However, there was a marginal growth in passenger vehicle exports. Maruti Suzuki led the segment, followed by Hyundai, Kia, Volkswagen, Nissan, and Honda. While two-wheeler exports declined by 5.3%, commercial vehicle shipments dropped by 16%, and three-wheeler exports declined by 18% in FY24. Despite challenges, the January-March quarter showed signs of recovery, especially for two-wheelers, suggesting better prospects ahead.