Export volume of passenger vehicles from India FY 2023, by company

Maruti Suzuki was the top player in terms of the export of passenger cars from India in financial year 2022 with over 255.4 thousand vehicles. Hyundai followed in second place. Together, Maruti Suzuki and Hyundai make up over 60 percent of the total export volume of the Indian automobile industry.

The amazing growth of Maruti Suzuki

Maruti Suzuki Limited is a subsidiary of Suzuki Motor Corporation, a Japanese automaker. Founded in Gurugram, India in 1981, Maruti Suzuki has played a significant role in the development of the Indian automobile industry. In 2022, the company saw impressive growth in its export volume at 125 thousand units. This led to an increase in market share of 38.5 percent in 2022, making it the top player in the Indian automobile industry. This surge in export volume is a significant achievement for the Indian automobile industry.

India’s passenger vehicle market

According to estimates, India was positioned as the third-largest market for passenger vehicles in 2022. However, passenger vehicles held only 17.5 percent of the automotive market that was otherwise dominated by two-wheelers. The two-wheeler market stood at close to 13.5 million units during the same year.