Share of total registered vehicles in India FY 2020, by type
3.5 million two-wheelers were sold domestically. In 2018, the south Asian country became the fourth largest manufacturer of cars and the seventh largest manufacturer of commercial vehicles. In 2023, around 0.96 million commercial vehicles and around 3.6 million passenger vehicles were sold in the country.
Domestic consumption
India’s automotive market was dominated by two-wheelers and passenger vehicles. Small and mid-sized car sales accounted for about 13 percent of the total sales. Two-wheeler sales on the other hand had a share of over 80 percent. Sales in the domestic market had increased at a compound annual growth rate of about seven percent between fiscal years 2013 and 2019 before the industry was hit by a major slowdown causing a widespread disruption across all segments, which was further impacted by the coronavirus pandemic.
The export market
In fiscal year 2021, there were over 4.1 million vehicles exported from India. This meant a growth of over eight percent between 2013 and 2019 fiscal years before the coronavirus pandemic. Almost 80 percent of these exported vehicles were two-wheelers. Automobile exports had an annual growth of about 14 percent overall at the end of fiscal year 2019.
Two-wheelers had a leading share in the automotive industry across India at the end of fiscal year 2020, at about 75 percent. In 2020, almost Domestic consumption
India’s automotive market was dominated by two-wheelers and passenger vehicles. Small and mid-sized car sales accounted for about 13 percent of the total sales. Two-wheeler sales on the other hand had a share of over 80 percent. Sales in the domestic market had increased at a compound annual growth rate of about seven percent between fiscal years 2013 and 2019 before the industry was hit by a major slowdown causing a widespread disruption across all segments, which was further impacted by the coronavirus pandemic.
The export market
In fiscal year 2021, there were over 4.1 million vehicles exported from India. This meant a growth of over eight percent between 2013 and 2019 fiscal years before the coronavirus pandemic. Almost 80 percent of these exported vehicles were two-wheelers. Automobile exports had an annual growth of about 14 percent overall at the end of fiscal year 2019.