World's top-10 largest car markets of 2022; India ranks 3rd

At the bottom was Denmark (19% decline), Austria (20% decline), Egypt (27% decline), Singapore (32% decline) and Russia (59% decline).

The list of the world's largest car markets for 2022 has been released.

According to reports, after collecting preliminary data from 78 countries, global sales volume is said to have fallen by 2% to 78.49 million units (PV & LCV). The estimated total sales, however, including the missing markets, is said to be approximately 81.5 million units.

Among the countries, China & USA came out on top, occupying the first and second positions, respectively. However, the third position in 2022 was occupied by India for the first time ever. Reports suggest that strong growth in demand, better offers and the availability of attractive cars are some of the main contributing factors to its rise. Compared to 2021, India also recorded the highest growth margin of 24 per cent among the top 10 countries and with 4,367,964 units of sales. China registered a marginal 2% growth with 26,864,000 units, while sales in the USA dropped by 8% to 13,828,337 units.

Japan and Germany came in fourth and fifth, respectively; while Brazil, the UK, France, Korea and Canada completed the top 10.

At the bottom was Denmark (19% decline), Austria (20% decline), Egypt (27% decline), Singapore (32% decline) and Russia (59% decline).

Source: Motor1