India beats Japan in global car sales in 2023

Indian domestic vehicle sales surpassed Japan for the first time in 2022, becoming the third largest market after China and the United States.

India retained its place as the third-largest auto market in the world in 2023, ahead of Japan for the second consecutive year.

New car sales in India rose by 7% in 2023 to 5.07 million units. In comparison, Japanese car sales increased by 14% to 4.77 million units.

According to SIAM data, passenger car sales increased by 8% to 4.10 million units, while commercial vehicle sales were up by 5% to 9,78,385 units.

Indian domestic vehicle sales surpassed Japan for the first time in 2022, becoming the third largest market after China and the United States.

In 2023, Chinese auto sales dropped by 1.8% to 20.12 million units, accounting for 28.9% of the overall global sales. Car sales in the USA rose by 12.5% to 12.86 million units.

Source: Nikkei