CURRENT AFFAIRS

Detailed explanation-1: -China’s auto market topped the chart in the year 2021 as 26.27 vehicles were sold in the year, followed by the US at 15.4 million and Japan at 4.44 million. India, which was on the fourth place, sold around 4 million units in the year amid the global chip shortage issue.

Detailed explanation-2: -India surpassed Germany to become the world’s fourth largest automotive market in 2021, data by the Organisation Internationale des Constructeurs d’Automobiles (OICA) showed. As per the data, India saw 3, 759, 398 vehicles sold in 2021, compared to 2, 973, 319 vehicles in Germany.

Detailed explanation-3: -China continued to lead the global auto market in 2021 with 26.27 million vehicles sold. The US remained second at 15.4 million vehicles, followed by Japan at 4.44 million units.

Detailed explanation-4: -India has reportedly became the world’s third-largest automotive market for the first time. With vehicle sales totalling approximately 4.25 million units during 2022, the region has now overtaken Japan and sits behind the USA (second) and China (first).