India becomes the third largest auto market in the world

India becomes the third largest auto market in the world

Daily Current Affairs   /   India becomes the third largest auto market in the world

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Category : Business and economics Published on: January 09 2023

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  • India has become the third-largest auto market in the globe for the first time surpassing Japan in auto sales last year, according to the latest industry data, Nikkei Asia report.
  • India’s sales of new vehicles totalled at least 4.25 million units, based on preliminary results, topping the 4.2 million sold in Japan.
  • According to Society of Indian Automobile Manufacturers’ data, December’s sales volume reported by Maruti Suzuki, India’s largest carmaker, led the total to hit the 4.25 million units mark.
  • Japan’s auto sales had hit an all-time high of 7.77 million units in the year 1990.
  • In 2021, China continued to lead the global auto market, with 26.27 million vehicles sold. The US remained second at 15.4 million vehicles, followed by Japan at 4.44 million units.
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