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India overtakes Japan to take third spot among largest vehicle markets

According to Siam, 4.13 million vehicles - including passenger and commercial - were sold in the country between January and November 2022

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Sohini Das Mumbai
India has overtaken Japan to become the third largest vehicle market in 2022 after China and the US, selling more than 4.25 million vehicles riding on pent- up demand and enhanced production by carmakers.

According to the Society of Indian Automotive Manufacturers (SIAM), 4.13 million vehicles — including passenger and commercial — were sold in the country between January and November 2022. SIAM releases quarterly data on commercial vehicles, and thus numbers for the October-December quarter are awaited for the segment. Also, original equipment makers (OEMs) like Tata Motors (TML) have shifted to quarterly reporting of both wholesale and retail