India Becomes World’s 3rd Largest Car Market

Sales volume in the country is expected to rise

India has officially booted Japan out of the number three spot in the global automotive market. Latest industry data, reported on by Nikkei, shows that for the first time ever, India is now the third largest global auto market.

For 2022, the country’s new sales came in at 4.25 million units, based on preliminary results from the Society of Indian Automobile Manufacturers. This figure tops Japan’s 4.2 million units for the year. Japan’s sales in 2022 were down 5.6% from 2021.

Between January and November, India had delivered 4.13 million new vehicles. The total hits 4.25 million after adding December’s sales volume reported Sunday by Maruti Suzuki, India’s largest carmaker, the report says. And sales volume in the country is expected to rise: there are still year-end results and sales figures for commercial vehicles that have yet to be included into the 2022 totals.

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