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India overtakes Germany to become 4th largest vehicle market

India overtakes Germany to become 4th largest vehicle market

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. According to the latest numbers sourced from OICA, the Organisation Internationale des Constructeurs d’Automobiles – the international trade association formed of 39 national automotive industry trade associations – India saw 3,759,398 vehicles sold in 2021, compared to 2,973,319 vehicles in Germany. This translates to a difference of almost 26 percent. 

Key points of the report:

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