Auto exports in H1 FY24 decline across segments; PVs mark single-digit growth
The biggest auto export markets from India are Latin America, Southeast Asia and Africa. During the April-September 2023 period, export volumes saw a de-growth for all the segments including two wheelers, commercial vehicles (CVs) and three wheelers. However, the passenger vehicle (PV) segment marked a growth of 5%. Ongoing geopolitical issues and availability of foreign exchange have been challenges for certain markets. Industry experts expect the overall scenario to improve in H1 but owing to global issues, complete recovery could be lingered on to the next fiscal year.
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