Car and SUV exports cross 6.37 million units in 10 years, Maruti Suzuki tops in FY2023

If the domestic market sales of a record 3.89 million passenger vehicles (up 35%) in FY2023 brought smiles to India Auto Inc, then the export performance of 662,891 units (up 15%) shipped overseas is also good news. That’s because exports for the other three segments were all down – two-wheelers (-18%), three-wheelers (-27%) and commercial vehicles (-15%).

A quick look at the decadal statistics of exports of made-in-India cars and SUVs reveals that a total of 63,74,650units or 6.37 million units made their way from Indian shores to overseas markets. While FY2023’s exports point to a gradual recovery over the Covid-impacted FY2021, when PV exports slid to their lowest level in the past 10 years – 404,400 units – they are still considerably below the 758,830 units of FY2017.

Maruti Suzuki leads for second consecutive year

Maruti Suzuki has retained India’s top car and SUV exporter title for the second year running with 255,439 units, up 8% (FY2022: 235,670). In fact, it had done so at the end of February 2023 itself, when it had a big lead of 83,991 units over Hyundai Motor India. The company exports 17 models with the Grand Vitara being the latest to join the export portfolio. At present, the Maruti Suzuki models with the highest export demand are the Dzire sedan, the Swift, S-Presso and Baleno hatchbacks, and the Brezza SUV.

Hyundai Motor India, with total exports of 153,019 units, up 18%, remains in No. 2 position in FY2023. The next three ranks also remain unchanged with Kia India (85,756 units) and Nissan Motor India (60,637 units) and Renault India (34,956 units).

Data mining the PV export numbers over the past decade reveals some interesting takeaways. In the 10-year period between FY2014 and FY2023, Hyundai has topped the export chart seven times and Maruti Suzuki thrice (FY2018, FY2022 and FY2023). These two OEMs together accounted for 30,12,029 units or 47% of the 6.37 million units shipped abroad. In overall numbers, Hyundai leads with 16,26,351 units to Maruti Suzuki’s 13,85,678 units.

Twenty percent or 13,07,699 units were exported by Ford India and GM India, both of whom are no longer present in the Indian market. Two other major exporters are Nissan Motor India with 674,141 units and an 11% share of 10-year exports, and Volkswagen India with 536,893 units which gives it a 9% share of exports since FY2014.

FY2023’s PV exports rose 15% to 662,891 units but they are still below FY2017’s 758,830 units. In the past 10 fiscals, Hyundai has been export leader for seven years and Maruti Suzuki for three.