India’s Automobile Production and Export Results in YTD June 2022

India's automobile production in the first six months of 2022 increased by 19.7% year-on-year to 2,668,478 units, surpassing the production volume of the first half of 2018, which marked a record high for the entire year. Looking at monthly passenger vehicle production in the first half of 2022, with the exception of May (297,000 units), monthly production exceeded 300,000 units. It appears that semiconductor shortage had very limited impact on production. In the first half of 2022, sales increased by 21.6% year-on-year and exports went up by 30.6% year-on-year, suggesting that the recovery in domestic and overseas demand also contributed to the expansion of production scale.