India’s domestic car industry may be counting on govt’s GST cuts to manage a growth in volumes, but exports are turning out to be quite a happy hunting ground for the passenger vehicles industry which has registered a near 20per cent jump in the first half of this fiscal, shipping a variety of vehicles ranging from electrics, hatchbacks, to sedans and SUVs.
Exports in FY26’s Apr-Sep period have hitting almost 4.5 lakh units, led by strong volumes by Maruti Suzuki, Hyundai, Nissan and Volkswagen.
Maruti Suzuki, leader in domestic sales, is also ahead in exports and is targeting to ship over 4 lakh units in fiscal 2025-26. The going is already strong for Maruti with its overseas shipments – comprising models such as Fronx, Jimny, Swift, Baleno and Dzire – crossing two lakh units in the first half.
“We are exporting cars in a quarter what we used to export in a year, just 4 years ago. This is a salute to the call of Make in India, Make for the World,” Rahul Bharti, Senior Executive Officer (Corporate Affairs) at Maruti, told TOI.
Such has been the refinement and quality in manufacturing that Maruti is now exporting cars to its parent’s home market Japan where the India-made Jimny is a hit. Also, it started sales of its first electric car, the eVitara, in export markets while planning to get it to India later. “In August and September we shipped over 6,000 electric vehicles,” Bharti said.
Hyundai, which was perhaps the first company to bet heavily on exports, has had a 17per cent growth in exports this year as it shipped nearly 1 lakh units against 84,900 units in the first half of the previous fiscal.
José Muñoz, the global CEO of Hyundai, lauded the quality and cost competitiveness of manufacturing here. He said the company will make India a key global hub for export of electrics, apart from ICE (internal combustion engine) products.
The company exports the Creta to Africa, Grandi10 (both hatchback & sedan) and Verna to Africa, Middle East and Latin America, i20 to Africa and Latin America. Cumulatively, it has exported to more than 150 countries. “By 2030, India will be our second-largest region globally, aligned with PM Narendra Modi’s vision of ‘Make in India’. We’re making India a global export hub, targeting up to 30per cent export contribution,” Muñoz said.
Nissan has been exporting the Sunny sedan to the Middle East, and Magnite compact SUV to as many as 65 countries. Company MD Saurabh Vatsa said India is Nissan’s second-largest export hub in the AMIEO region (Africa, Middle-East, India, Europe & Oceania).
“India is home to one of the finest engineering talent, an extremely efficient and competitive manufacturing and high quality vendor and supplier base. Moreover, India’s well-equipped and easily accessible ports provide a geographical advantage on international shipping routes to multiple destinations,” Vatsa said.
