India's automobile exports increased 17.8% in 2022
- India's automobile exports increased 17.8% in 2022 from 2021 to 733,183 units, recovering for the second consecutive year. The decline in the impact of the Covid-19 pandemic and the normalization of domestic production activities have led to a recovery in exports. As a result, carmakers Maruti-Suzuki, Kia, Renault and Honda recorded good export results in 2022. Thus, Maruti-Suzuki exported 260,000 cars in 2022 compared to 205,000 in 2021, Hyundai exported 150,000 cars in 2022 compared to 130,000 in 2021, Kia exported 80,000 cars in 2022 compared to 40,000 in 2021. These three carmakers alone will account for two thirds of Indian automobile exports in 2022.
- Passenger car exports increased by 20.0% to 644,875 units. Sedans increased by 18.0% to 415,547 units while SUVs and MPVs increased by 23.8% to 228,801 units. Meanwhile, exports of utility vehicles increased by 3.9% to 88,308 units, including light utility vehicles (LUV) which increased by 12.1% to 61,454 units, but heavy utility vehicles (HUV) fell 11.0% to 26,854 units.
- When we look at the curve of Indian automobile exports since 2011, we see that they continued to progress between 2011 and 2016, going from 600,000 units in 2011 to 850,000 in 2016. Then they declined between 2017 and 2020, going from 850,000 to 450,000 units in 2020, the year of Covid-19. The relaunch took place in 2021 with a volume of 625,000 units exported and this relaunch continued in 2022, with a volume of 733,000 units exported. These variations are mainly the consequence of external demand.