India tops Japan in new car sales amid high economic growth
New car sales in India in fiscal 2022 ended March jumped 28.2 percent from a year ago to 4.85 million units, surpassing annual sales in the Japanese market, industry data showed.
The figure topped 4.39 million new vehicles sold in Japan, as the emerging market continues to expand on the back of high economic growth and an increasing population.
The data came after India became the world’s third largest auto market after China and the United States in 2022, overtaking Japan in new car sales on a calendar basis for the first time.
Of the 4.85 million units sold in fiscal 2022, passenger cars acc...