India becomes world's 3rd largest auto market in 2022: Report

India surpassed Japan to become the third-largest auto market globally in 2022, Nikkei Asia reported. India's new vehicle sales were at 42.5 lakh units, topping the 42 lakh sold in Japan. The figure is expected to rise further with the inclusion of pending fourth-quarter sales figures for commercial vehicles, along with year-end results yet to be released by some automakers.