India Surpasses Japan As The Third Largest Car Market

India has overtaken Japan as the third largest light vehicle market in the world in 2022

India outsold Japan with at least 4.25 million new car sales, surpassing that country's 4.2 million sales

India has now become third-largest auto market in the world for the first time in history

China remains the biggest auto market with 26.27 million units sold in CY2022

The United States takes the second spot with 15.4 million units sold in CY2022

India was the fastest-growing market in 2022 and posted a double-digit growth of over 20%