India becomes the third largest auto market in the world

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.