India’s Automobile Export Results in 2023

Automobile exports from India (CBUs only) increased by 4.2% from the previous year to 756,207 units in 2023, showing a recovery trend for the third consecutive year. Exports of passenger vehicles went up by 5.2% to 678,071 units driven by the exportation of new models and an increase in utility vehicle (SUVs, MPVs etc.) exports. In contrast, commercial vehicle exports declined by 3.5% to 78,136 units. In 2023, the ratio of exports to automobile production fell by 0.4 points to 13.0%.

Looking at the top three exporters, Maruti Suzuki maintained its lead in exports with 268,443 units, an increase of 2.2%. Maruti Suzuki was followed by Hyundai with 163,675 units, up 10.4%, and Kia with 68,008 units, down 17.1%.