India’s Automobile Production and Export Results in the First Half of 2024

Automobile production in India during the first half of 2024 increased by 6.2% year-on-year to 3,084,484 units, surpassing 3 million units for the first time, and exceeding a record high for the third consecutive year. The main reason for this expansion is an increase in the production of utility vehicles, mainly compact SUVs, due to their rise in popularity. On the other hand, the rapid increase in demand for utility vehicles was having an impact on sales of passenger cars such as sedans and hatchbacks, so the production of passenger cars continued to decline.