look news india
New Delhi: The Society of Indian Automobile Manufacturers said that in the last financial year 2023-24, there has been a decline of 5.5 percent in the export of vehicles from the country. Vehicle exports from the country have declined due to the financial crisis in many foreign markets. According to the data, total vehicle exports in the last financial year stood at 45,00,492 units, while in the last financial year 2022-23 this figure was 47,61,299 units.
Conditions remain volatile in various overseas markets. Some countries, where we are very strong in exports of commercial vehicles and two-wheelers, are facing foreign exchange related problems. Exports of commercial vehicles, two-wheelers and three-wheelers declined significantly in the last financial year, while exports of passenger vehicles increased marginally. Some improvement has been seen in the January-March quarter this year, especially in the two-wheeler segment.
Exports of passenger vehicles increased by 1.4 percent to 6,72,105 units in the last financial year from 6,62,703 units in the financial year 2022-23. In the last financial year, exports of two-wheelers declined by 5.3 percent to 34,58,416 units. In the last financial year, exports in this segment were 36,52,122 units. Similarly, export of commercial vehicles has declined by 16 percent to 65,816 units. Export of commercial vehicles in 2022-23 was 78,645 units.