India becomes fourth-largest auto market

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India has displaced Germany as the world’s fourth-largest market for vehicle sales by volume and is on track to take the number three position from Japan within three years. Commercial and passenger vehicle sales in India grew 8.3 per cent last year to 3.99m, overtaking the 3.74m of sales in Germany, a market that grew less than 1 per cent, according to data from LMC Automotive, a market intelligence provider. McKinsey has projected that India is poised to overtake Japan as the third-biggest market by 2021, as the country of 1.2bn people grows more than 7 per cent a year, while Japan’s larger economy flatlines.

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