India Surges into Toyota’s Global Top 4 – What’s Driving the Jump?

A successful tie-up with Suzuki Motor Co, rising demand for SUVs and a steady flow of investments into India have helped India leapfrog three places in a year to emerge as the Toyota Motor Corp’s fourth largest market in 2024. Not only does this make India the fastest growing market for the Japanese automaker, but also its largest outside the world’s top markets, China, the US, and its home market, Japan.

In 2024, India overtook three countries—Canada, Indonesia and Thailand—among Toyota’s global markets. In the year before, India had surpassed Brazil, taking the No.7 position within Toyota’s internal sales ...