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India Sees Automobile Export Growth, Business and Industry Trends Analysis

The automobile market in India has the potential to grow to much higher numbers over the mid-term. The Society of Indian Automobile Manufacturers reported that 4.22 million passenger vehicles were sold in that nation during the 2023-2024 fiscal year, up from 3.89 million during the previous year. (In addition, the nation builds millions of motor scooters, motorcycles and three-wheelers each year, plus a modest number of commercial vehicles.) Although India is nowhere near as large a market as China, it is attracting the attention of leading global manufacturers. As India’s middle class continues to grow over the long-term, it may eventually become one of the world’s larger car markets.

GM previously had two manufacturing plants in India but stopped selling cars in the country in late 2017. In 2017, GM sold its factory based in Halol, Gujarat to China’s SAIC, which is very active in India. GM also plans to divest its other plant, a 300-acre facility in Talegaon.

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