Maruti Suzuki strengthens its grip on car exports in H1 FY2023

India’s passenger vehicle industry, which is on a roll in the domestic market with sales of 1.93 million units and 40%  year-on-year growth, is also the best performing on the export front across vehicle segments in first-half FY2023. Given current high inflationary trends the world over and the sharp rise of the dollar, overall exports have been muted and of the four segments, only PVs and commercial vehicles have managed to record growth, while two- and three-wheelers have seen year-on-year declines for the first half of FY2023 (see SIAM data table below).

With shipment of 320,853 units ...