Car Sales 2022: Nikkei Asia said on Friday that last year, India sold more cars than Japan for the first time. This made India the third-largest auto market in the world. At least 4.25 million new cars were sold in the country, which is more than the 4.2 million cars sold in Japan.
4.13 million new cars were delivered in India
The Society of Indian Automobile Manufacturers says that 4.13 million new cars were delivered in India between January and November of 2022. ANI says that the number of cars sold in December, which was reported by India’s biggest carmaker Maruti Suzuki on Sunday, brings the total to about 4.25 million units.
Also read: TVS Motor: A 3.28 percent dip in sales reported by the two wheeler manufacturer in December 2022
India’s sales volume is expected to go up even more when the fourth-quarter sales numbers for commercial vehicles and the year-end sales numbers from Tata Motors and other automakers are added.
With 26.27 million cars sold, China stayed at the top of the global auto market in 2021. The US stayed in second place with 15.4 million vehicles, and Japan was in third place with 4.44 million vehicles.
Fell below 3 million again in 2020 because of the lockdown caused by Covid
India sold about 4.4 million cars in 2018, but less than 4 million in 2019. This was mostly because of the credit crunch that hit the nonbank sector that year. It fell below 3 million again in 2020 because of the lockdown caused by Covid.
But sales picked up in 2021 and reached 4 million units, but growth was slowed by a lack of automotive chips, according to ANI.
According to Nikkei Asia, gasoline-powered vehicles, including hybrids, accounted for the vast majority of new automobiles sold in India in 2022, while electric vehicles were hardly present. People think that cars for the Indian market will have less semiconductors than cars for more developed economies.
Nikkei Asia said that the recovery would start when the shortage of automotive chips eased in 2022. Last year, sales went up for Maruti Suzuki, Tata Motors, and other Indian automakers.
India is currently home to 1,4 billion people, and its population is expected to exceed China’s by the end of this year, continuing to grow until the early 2060s. Incomes are also going up.
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