India tops the rank and came at third position beating Japan and Germany in automobile sector with a massaive growth of 23.40 %. This is the first time India has beaten Japan, as per the latest reports.
India is making its route in automobile by leaving the developed states behind, where India has seen a growth of over 22 %, totaling the sale for past year at 4.4 milllion units, topping the 4.2 million sold in Japan.
India has totaled it production has touched the five million mark for the very first time and continues to be the fourth largest vechile manufacturer in the world. Certainly new brands has also entered in the Indian market becoming a fast debute like Kia, MG and Citroen, where the few have left the market like Ford, Datsun and General Motors.
Looking at the remaining brands Suzuki has captured the India market and stand at the first position where Hyundai, Kia, Skoda and Renault stands at second, third, fourth, and fifth position. Departure of brands like Hyundai, Renault, Nissan, Skoda, Volkswagen and Kia from Russia has putted an light on India for these global manufactures.
In 2020 when covid pandemic hitted the world with lockdown, vechiles sale has gone below the 3 million mark. But the sales managed to recover in yera 2021 touching the mark of 4 million units, but the shortage of automobile chips slows down the growth.
India is a home of 1.4 billion people, and only 8.5 % of Indian households owned passanger vechiles in 2021, as per the British research firm, which makes it clear that the sales growth has ample of space in India. Government has started offering subsidies to increase the sales growth amid a trade deficit resulting from petroleum imports.
Japan has sold around 4,201,321 vechiles in last year standing at a position of 5.6 % from 2021 as per Japan Automobile Dealers Associate and the Japan light motor vechile and motorcycle association.
China in 2021 continued to lead the global automobile marjet with 26.27 million vehicles being sold and US at second at 15.4 million vehivles sold. China surged past Japan to become the second largest auto market in year 2006 with overtaking US in 2009 and becoming the largest world market.
Skoda Auto global CEO Klaus Zellmer said that "we are well on track to more than double our sales in 2022. Our success gives us tremendous confidence for a long-term, sustainable journey in India, which is an integral part of all future strategy planning". India has recorded highest growth amongst top five as the recovery phase begans following the health crisis around the globe has been all more positive.