India is now the third-largest auto mobile market in the world

Photo by Laurel and Michael Evans on Unsplash

After China and the US, India is now the third-largest auto mobile market in the world

According to early data, India outsold Japan with 4.2 million new car sales, selling at least 4.25 million units. Between January and November 2022, 4.13 million new cars were delivered in India, according to the Society of Indian Automobile Manufacturers.The amount increased to almost 4.25 million units by including the December sales volume that Maruti Suzuki, the largest automaker in India, disclosed on Sunday.

Report Of Nikkei Asia

According to the report of Nikkei Asia, the addition of upcoming commercial vehicle sales data for the fourth quarter and upcoming year-end numbers from Tata Motors and other manufacturers is projected to boost India’s sales volume even further. With the sale of 26.27 million automobiles, China will continue to dominate the global auto industry in 2021. The US came in second with 15.4 million automobiles, followed by Japan with 4.4 million.

Vehicle sales fell even below 3 million units in 2020, when the Covid outbreak prompted a nationwide lockdown. However, sales bounced back in 2021 to close to 4 million units, although the lack of automotive chips hampered growth.

Overall, the outlook for India’s auto industry remains positive, with sales expected to rise in 2022 and beyond. The Indian Automotive Industry is investing in new technologies, such as electric vehicles and connected technologies, to bolster future growth.

by - Mehmood Azim