Even as global trade remains clouded by tariff tensions, slowing consumption and geopolitical uncertainty, India’s automobile exporters appear to have found a rare pocket of resilience.
April’s sharp 38 per cent jump in vehicle exports suggests Indian automakers are increasingly turning overseas markets into a key growth lever at a time when domestic demand across segments remains patchy.
What makes the trend particularly significant is the breadth of the recovery. Growth was visible across passenger vehicles, motorcycles, scooters and three-wheelers, indicating that the momentum is not confined to a single category or market.
Industry executives said Indian manufacturers are benefiting from stabilised supply chains, competitive pricing and rising demand for fuel-efficient vehicles in cost-sensitive economies across Africa, Latin America and parts of Asia.
Standout performer
Two-wheelers emerged as the standout performer, with motorcycle exports rising over 36 per cent year-on-year (y-o-y) to more than 4.26 lakh units in April. The surge underlines the growing global reach of Indian firms such as Hero MotoCorp, Bajaj Auto and TVS Motor Company, which have steadily expanded distribution networks in emerging markets where affordability and fuel efficiency remain critical purchase drivers.
The strong export performance also signals a strategic shift underway in the industry. After years of relying predominantly on the domestic market, automakers are now attempting to build export buffers to offset cyclical slowdowns at home.
Executives said overseas markets are likely to remain a crucial growth avenue in FY27, especially as companies push deeper into newer geographies and premium product segments.
“While the current macro environment is uncertain, the demand for our products remains intact across key markets, providing us confidence to recover export volumes as the market conditions improve. Even in an extremely uncertain environment, we are determined to go the extra mile and deliver volume growth of 8-10 per cent in exports as well in FY27,” Tarun Garg, Managing Director and Chief Executive Officer, Hyundai Motor India, said.
HMIL is the manufacturing hub for many emerging markets exporting over 3.9 million vehicles from India to 150 countries cumulatively, he informed adding that the top five countries include Mexico, Saudi Arabia, South Africa, Chile, Peru and top models for exports include Verna, Nios, Aura, i20, New Venue and Alcazar.
“HMIL is continuously strengthening the position for exports to become manufacturing hub for emerging markets, and we are confident to achieve our aim for 30 per cent export contribution by 2030,” Garg added.
For Maruti Suzuki India too, exports saw a growth of around 43 per cent y-o-y to 39,638 units in April as compared, with 27,729 units in the same month last year, the latest monthly report shared by Society of Indian Automobile Manufacturers (SIAM), indicated.
Bajaj Auto, the largest two-wheelers exporter said that markets like Nigeria and Latin America are its volume drivers and going forward, it expects the momentum to continue. The company exported 2,29,890 units of two-wheelers in April, up 78 per cent y-o-y as compared with 1,29,322 units in April 2025.
“Our wide retail distribution footprint has given us a strong competitive edge, enabling us to maintain an overwhelming market share of 50 per cent in retail terms (in Nigeira). Latin America continues to outperform, delivering sustained growth for 11 consecutive quarters now and reporting another all-time high performance, driven by strong growth in almost each and every country. The region remains a key driver of our export performance in terms of volume, revenue and EBITDA,” Rakesh Sharma, Executive Director, Bajaj Auto, said recently at a post earnings call.
Asia also recorded double-digit growth, particularly due to Sri Lanka, Philippines and Nepal, he said adding that of the top 30 markets, which account for almost 80 per cent of the emerging markets in industry, Bajaj Auto grew at almost twice the rate of the industry growth in Q4.
TVS Motor Company reported exports of 1,06,788 units in April against 1,06,683 units in April 2025.
Hero MotoCorp, a relatively late entrant into exports, said that it has a lot of headroom for growth in its global business. Last year (FY26), the company grew by 41 per cent and the year before that, it grew by 40 per cent and hence it will continue focus of expanding right market fit products for different geographies in the world, Harshavardhan Chitale, CEO, Hero MotoCorp said last week at a post earnings call with analysts.
“Also, opening more and more countries in terms of our presence. We are right now present in 52 countries, but we see opportunities in many more,” Chitale added.
Published on May 17, 2026
