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India has seen light vehicle sales grow by 35 per cent in CY23 compared to pre-pandemic levels of CY19, registering one of the sharpest recoveries in the top 10 markets in the world, according to research by S&P Global Mobility. The research agency includes passenger vehicles and light commercial vehicles in its definition of ‘light vehicles’ globally.
Other global markets such as the US, Japan, Germany, France, Italy, and South Korea are still behind, hovering at pre-pandemic levels (see chart). Only China is in a positive zone, growing by 2.6 per cent in 2023 from its pandemic levels of 2019.
S&P Global
First Published: Feb 16 2024 | 11:34 PM IST
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