[Asia Economy Reporter Kim Daehyun] Last year, India's new car sales volume exceeded at least 4.25 million units, surpassing Japan's approximately 4.2 million units and ranking third in the world for the first time, reported Japan's Nihon Keizai Shimbun (Nikkei) on the 6th.
According to the Society of Indian Automobile Manufacturers (SIAM), India's new car sales volume based on shipments was 4.13 million units from January to November last year. Adding the December sales figures announced by Maruti Suzuki, the market leader in India, on the 1st, the total rises to 4.25 million units.
India is set to become the world's most populous country this year, overtaking China. With a population reaching 1.4 billion and rising incomes, the automobile market is rapidly expanding.
Last year, China ranked first in new car sales with 26.27 million units, followed by the United States with 15.4 million units. Japan fell behind India, dropping to fourth place.
Japan's new car sales last year were 4,201,321 units, a 5.6% decrease from 2021, marking the lowest level in 45 years since 1977.
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