India overtakes Japan, becomes World’s 3rd largest Auto Market
New Delhi – India overtook Japan to become world’s third largest Automobile market in 2022 for the first time, according to Nikkei Asia report.
According to the report, the preliminary data shows that India sold at least 4.25 million new vehicles, surpassing Japan’s 4.2 million sales.
According to the Society of Indian Automobile Manufacturers (SIAM), 4.13 million new cars were delivered in India between January and November 2022.
The number rose to almost 4.25 million units when the sales figure for December was reported on January 1 by Maruti Suzuki, the largest automaker in India.
According to figures from the Japan Automobile Dealers Association and the Japan Light Motor Vehicle and Motorcycle Association, 4.20 million automobiles were sold in Japan last year, a 5.6 percent decrease from 2021.