India overtakes Germany to become 4th largest vehicle market
Highlights:
- According to the report released by Organisation Internationale des Constructeurs d’Automobiles (OICA), India has surpassed Germany to become 4th largest vehicle market in the world.
- The 1st was occupied by China, followed by the US and Japan.
- Despite the Covid-19 pandemic, India sold 3,759,398 vehicles in 2021 as compared to 2,973,319 vehicles in Germany.
- This is almost 26 per cent of growth and the only country to register double-digit growth among the top 5 countries.
- India is expected to become the third-largest Vehicle market by 2025, However, it requires India to surpass Japan which sold 4,448,340 units in 2021.
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