Key Points
Bucking the trend, Made in India SUVs (Sports Utility Vehicles) are in demand in many geographies as exports increased by 50.5 per cent in May this year as compared to the corresponding month of the previous year..
On the other hand, the exports of small cars, which were the major contributor in passenger vehicle exports, declined by 19.6 per cent...
According to Society of Indian Automobile Manufacturers (SIAM) data, India exported 24,490 UVs in May this year compared to 16,274 units in the same period last year, thus registering a growth of 50.5 per cent..
In comparison to May this year, passenger car exports witnessed an increase of 32 per cent and utility vehicles registered a marginal increase of 7.4 per cent in April 2024 compared to April 2023..
In domestic market, passenger vehicle wholesales increased 4 per cent year-on-year in May to 347,492 units, as compared to the same month last year, industry body SIAM said on Tuesday..
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