According to the report released by the Organisation Internationale des Constructeurs d’Automobiles (OICA), India has surpassed Germany to become 4th largest vehicle market in the world. This growth for India has happened over the years, as the automobile market has been growing consistently.
The topmost position 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 percent 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.
