13:00 - 10.01.2023

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January 10, Fineko/abc.az. India has overtaken Japan for the first time to become the third largest automotive market in the world after China and the U.S., ABC.AZ reports with reference to the Indian Society of Automobile Manufacturers (SIAM).

According to SIAM, 4.25 million cars, including passenger cars and commercial vehicles, were sold in India in 2022.

The growth of car sales in the Republic of South Asia was achieved by meeting demand and increasing production by automakers.

Car sales in China increased by 1.7% to 26.75 million cars in 2022, and in the U.S. - by 7.8% to 13.89 million cars year-on-year. According to preliminary data published by Japanese edition Nikkei, car sales in Japan last year fell by 5.6% compared with 2021 to 4.2 million cars.