Discover more about S&P Global's offerings
Customer Logins
Obtain the data you need to make the most informed decisions by accessing our extensive portfolio of information, analytics, and expertise. Sign in to the product or service center of your choice.
Customer Logins
BLOG
Nov 01, 2022
Countdown to 2023: India Overtook Japan to become Third Largest Car Market in Q2 & Q3.
Race for third place: Can India snatch the bronze medal in
annual vehicle sales from Japan in 2022? The contest is on, Q4 will
decide.
If annual light vehicle sales
were a race, the annual ranking has been stable for more than a
decade: Since 2007, Japan has been the bronze medalist in
automotive sales when surpassed by Mainland China. However, the
"race for the third place" is on: India surpassed sales of Germany
in 2021 and is challenging Japan´s position. YTD, Japan is leading
by a thin margin owing to the strong Q1 with the end of the
Japanese fiscal year. However, in Q2 and Q3, India´s sales exceeded
sales of Japan. The contest is on and will be decided in
Q4-2022.
With Global Auto Demand Tracker, we will continue to watch this space as we are counting down to 2023. For more information or a free trial click here.
This article was published by S&P Global Mobility and not by S&P Global Ratings, which is a separately managed division of S&P Global.
{"items" : [
{"name":"share","enabled":true,"desc":"<strong>Share</strong>","mobdesc":"Share","options":[ {"name":"facebook","url":"https://www.facebook.com/sharer.php?u=http%3a%2f%2fstage.www.spglobal.com%2fmobility%2fen%2fresearch-analysis%2findia-overtook-japan-to-become-third-largest-car-market-in-Q2-.html","enabled":true},{"name":"twitter","url":"https://twitter.com/intent/tweet?url=http%3a%2f%2fstage.www.spglobal.com%2fmobility%2fen%2fresearch-analysis%2findia-overtook-japan-to-become-third-largest-car-market-in-Q2-.html&text=Countdown+to+2023%3a+India+Overtook+Japan+to+become+Third+Largest+Car+Market+in+Q2+%26+Q3.++%7c+S%26P+Global+","enabled":true},{"name":"linkedin","url":"https://www.linkedin.com/sharing/share-offsite/?url=http%3a%2f%2fstage.www.spglobal.com%2fmobility%2fen%2fresearch-analysis%2findia-overtook-japan-to-become-third-largest-car-market-in-Q2-.html","enabled":true},{"name":"email","url":"?subject=Countdown to 2023: India Overtook Japan to become Third Largest Car Market in Q2 & Q3. | S&P Global &body=http%3a%2f%2fstage.www.spglobal.com%2fmobility%2fen%2fresearch-analysis%2findia-overtook-japan-to-become-third-largest-car-market-in-Q2-.html","enabled":true},{"name":"whatsapp","url":"https://api.whatsapp.com/send?text=Countdown+to+2023%3a+India+Overtook+Japan+to+become+Third+Largest+Car+Market+in+Q2+%26+Q3.++%7c+S%26P+Global+ http%3a%2f%2fstage.www.spglobal.com%2fmobility%2fen%2fresearch-analysis%2findia-overtook-japan-to-become-third-largest-car-market-in-Q2-.html","enabled":true}]}, {"name":"rtt","enabled":true,"mobdesc":"Top"}
]}