A record 4.7 million passenger cars and commercial vehicles were sold in India in 2022. This figure then increased by close to one million units from the previous year.
Great expectations
With a population of around 1.4 billion people, the addressable market for vehicle sales is more than twice as big as that of South Korea. It is expected that an increased number of women and young people will join the workforce and drive the demand for mobility.
Bills, bills, bills
India’s gross domestic product is expected to double in size between 2015 and 2024, but fuel prices continue to weigh heavily on the population: The average worker needs to spend 70 percent of his or her daily income to buy a gallon of gas. This is one of the reasons why the average per capita use of gasoline comes to only 6.4 gallons annually. This compares to almost 432 gallons in the United States per motorist per year.
Motor vehicle sales volume in India from 2005 to 2022
(in million units)
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OICA (Organisation Internationale des Constructeurs d'Automobiles). (April 12, 2023). Motor vehicle sales volume in India from 2005 to 2022 (in million units) [Graph]. In Statista. Retrieved November 17, 2024, from https://www.statista.com/statistics/265958/vehicle-sales-in-india/
OICA (Organisation Internationale des Constructeurs d'Automobiles). "Motor vehicle sales volume in India from 2005 to 2022 (in million units)." Chart. April 12, 2023. Statista. Accessed November 17, 2024. https://www.statista.com/statistics/265958/vehicle-sales-in-india/
OICA (Organisation Internationale des Constructeurs d'Automobiles). (2023). Motor vehicle sales volume in India from 2005 to 2022 (in million units). Statista. Statista Inc.. Accessed: November 17, 2024. https://www.statista.com/statistics/265958/vehicle-sales-in-india/
OICA (Organisation Internationale des Constructeurs d'Automobiles). "Motor Vehicle Sales Volume in India from 2005 to 2022 (in Million Units)." Statista, Statista Inc., 12 Apr 2023, https://www.statista.com/statistics/265958/vehicle-sales-in-india/
OICA (Organisation Internationale des Constructeurs d'Automobiles), Motor vehicle sales volume in India from 2005 to 2022 (in million units) Statista, https://www.statista.com/statistics/265958/vehicle-sales-in-india/ (last visited November 17, 2024)
Motor vehicle sales volume in India from 2005 to 2022 (in million units) [Graph], OICA (Organisation Internationale des Constructeurs d'Automobiles), April 12, 2023. [Online]. Available: https://www.statista.com/statistics/265958/vehicle-sales-in-india/
