Automobile sector saw decline in exports

According to a statement released by the Society of Indian Automobile Manufacturers (SIAM),

Automobile sector

22,11,457 vehicles were exported from India in the first six months of the current financial year from April to September last year.

This number was 26,80,527 during the April-September period of the last financial year 2022-23. Compared to that, exports of vehicles have now declined by 17 percent.

While exports of passenger vehicles increased during the assessment months, exports of two-wheelers, three-wheelers and passenger vehicles declined.

As a result overall exports of vehicles have seen a decline.

Exports of passenger vehicles in the first half of the current financial year stood at 3,36,754. The figure was 3,20,506 during the same period of the previous financial year 2022-23. Compared to that, the export of passenger vehicles has now increased by 5 percent.

Exports of passenger vehicles during the assessment months stood at 31,864. This is 25 per cent less than the same period last fiscal year's exports (42,306). Similarly, exports of two-wheelers declined by 20 per cent to 16,85,907 in the same period of the current fiscal from 21,04,845 in the first six months of the previous fiscal.

Similarly, the export of three-wheelers also declined from 2,12,126 to 1,55,154 during the April-September period, the report said.

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