Production volume of three wheelers India FY 2008-2024

Three-wheeler production volume stood at over 993 thousand units across India at the end of the fiscal year 2024. The automotive industry of the South Asian country was one of the biggest in the world, and contributed a sizable share of India's GDP each year. 

India – the uncrowned king of three-wheeler exports

Interestingly, India has emerged to be a notable exporter of three-wheeler vehicles to many of these foreign markets. In the financial year 2024, India exported nearly 300 thousand units of three-wheelers to various international destinations. However, the Asian and African markets, due to volatility in forex rates and economic downturns, often fluctuate and impact the demand from time to time. Bajaj Auto Limited, one of the automobile manufacturing giants in India, and exported more than half of its export to Southeast Asian countries. Other major export destinations included Latin America and Africa.

Leading three-wheeler manufacturers

The three-wheelers in India are extensively used for goods carriage and last-mile passenger transportation. The reasonably consolidated three-wheeler industry consisted of several manufacturers, including Bajaj Auto, Piaggio, and M&M which accounted for the majority of the total market share. While Piaggio ruled the load segment of the trade, Bajaj Auto was way ahead in the passenger division of the business. In the fiscal year 2024, Bajaj Auto sold more than 450 thousand units of three-wheelers all over the country.