India's UV Exports Overtake Cars for First Time in November; FY26 Set for Annual Shift

• In November 2025, India's utility vehicle (UV) exports surpassed passenger car (PC) exports for the first time, with 42,993 UVs shipped compared to 40,519 PCs.
• This marks a significant shift from FY24, where PC exports (4.3 lakh units) were nearly double UV exports (2.3 lakh units).
• The trend suggests that FY26 could be the first full year where utility vehicle exports annually exceed passenger car exports, driven by growing domestic and international demand for SUVs, MPVs, and MUVs.
• Maruti Suzuki remains India's largest passenger vehicle exporter, leading both overall PV exports (over 47%) and the utility vehicle segment.
• Sub-four-meter SUVs constitute about 62% of total utility vehicle exports, reflecting a dominance of compact models in India's overall passenger vehicle exports.

Why It Matters: India's utility vehicle exports are rapidly growing, surpassing cars in November and signaling a major market shift.