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

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