Production volume of vehicles India FY 2011-2024, by segment
India was one of the leading countries in the world in terms of vehicle production. In financial year 2024, the total production volume of vehicles in India was around 28.43 million units, which was an increase from the previous year. In 2020, the production value contracted the first time during the presented period. This was partially due to the introduction of the new Bharat Stage VI (BS-VI) emissions standards from April 1, 2020, and overall scaled down production to lower stock of the old BS-IV vehicles. Further decline in production was contributed by the coronavirus pandemic in India.
Two-wheeler industry in India
Two-wheelers have been the predominant vehicle type produced in India and also made up the majority of automobiles sold domestically. Two-wheelers in India are divided into three subcategories, namely, motorcycles, scooters, and mopeds. Hero MotoCorp had the highest market share in this segment, occupying more than one third of the market. The company was also the world’s largest manufacturer of two-wheel vehicles. The future growth point of this sector is expected to be electric scooters and motorcycles and many leading manufacturers have already started producing electric vehicles.
Bharat Stage VI emission standards
The new emission standards were first introduced in 2016 by the Indian government. India was the first country to skip BS-V altogether and start with a higher stage of standards. Within just four years, India turned the challenge into an opportunity and completed the transition of fuel and vehicles complying with the BS-VI standards. Combining with a scrappage program, BS-VI standards could significantly improve the air quality and public health in India.
