World's largest auto markets; India ranks 7

Emerging markets are fast becoming the biggest car markets in the world leaving behind developed economies such as US, Germany and Japan.

The US has always been the biggest auto market in the world for over a century. But China has surpassed the US. China auto sales are over 33 per cent of the US. And it sells seven times more vehicles than India.

Let’s take a look at biggest auto markets in the world.

Click NEXT to see the rankings…

Spain

Rank: 21

Sales in 2012: NA

Sales in 2011: 809,948

Span’s economy is the fifth largest in the European Union and thirteenth largest in the world. In 2012, Spain was among the largest exporters in the world and has a trade surplus with other countries in the EU.

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Saudi Arabia

Rank: 20

Sales in 2012: 704,214

Sales in 2011: 594,299

The government of Saudi Arabia has a tight control over all major economic activity, especially oil. The country has 18 per cent of the world’s oil reserves.

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Turkey

Rank: 19

Sales in 2012: 777,761

Sales in 2011: 864,439

Turkey has the world's 15th largest GDP by Purchasing Power Parity and has the seventeenth largest by nominal GDP. It is still considered as a developing economy.by the IMF.

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Argentina

Rank: 18

Sales in 2012: 840,679

Sales in 2011: 857,983

Argentina has the third largest economy in Latin America. The country’s economy is considered as an upper middle income economy and the people maintain a high quality of life.

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Iran

Rank: 17

Sales in 2012: 902,031

Sales in 2011: 1,414,000

Iran is the world’s seventeenth largest economy by Purchasing Power Parity and 25th by nominal GDP. Dominated by oil and gas production, public sector still contributes to the country’s economy.

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Mexico

Rank: 16

Sales in 2012: 987,747

Sales in 2011: 905,888

Mexico is one of the biggest economies in the world and ranks 11th by Purchasing Power Parity. The economy contains rapidly developing modern industrial and service sectors, with increasing private ownership.

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Australia

Rank: 15

Sales in 2012: 1,112,032

Sales in 2011: 1,008,437

Australia is among the largest capitalist economies in the world and is dominated by its service sector, which comprising 68 per cent of the GDP.

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Indonesia

Rank: 14

Sales in 2012: 1,116,224

Sales in 2011: 894,180

Indonesia has the largest economy in Southeast Asia and is one of the emerging market economies of the world. The country is also a member of G-20 major economies and classified as a newly industrialised country, according to Wikipedia.

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Italy

Rank: 13

Sales in 2012: 1,410,824

Sales in 2011: 1,757,649

Italy has a diversified industrial economy, which is divided into a developed industrial north, dominated by private companies, and a less-developed, highly subsidised, agricultural south, where unemployment is high.

The Italian economy is driven in large part by the manufacture of high-quality consumer goods produced by small and medium-sized enterprise.

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Thailand

Rank: 12

Sales in 2012: 1,436,355

Sales in 2011: 792,000

With a well-developed infrastructure, a free-enterprise economy, generally pro-investment policies, and strong export industries, Thailand achieved steady growth due largely to industrial and agriculture exports - mostly electronics, agricultural commodities, automobiles and parts, and processed foods.

Thailand is trying to maintain growth by encouraging domestic consumption and public investment to offset weak exports in 2012.

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South Korea

Rank: 11

Sales in 2012: 1,522,000

Sales in 2011: 1,589,119

South Korea over the past four decades has demonstrated incredible growth and global integration to become a high-tech industrialised economy. It is currently the world's 12th largest economy.

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Canada

Rank: 10

Sales in 2012: 1,677,000

Sales in 2011: 1,581,733

As a high-tech industrial society in the trillion-dollar class, Canada resembles the US in its market-oriented economic system, pattern of production, and affluent living standards.

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France

Rank: 9

Sales in 2012: 1,898,872

Sales in 2011: 2,204,065

The French economy is diversified across all sectors. It is the fifth largest economy in the world by nominal GDP.

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United Kingdom

Rank: 8

Sales in 2012: 2,044,609

Sales in 2011: 1,941,253

The UK, a leading trading power and financial centre, is the second largest economy in Europe after Germany. Services, particularly banking, insurance, and business services, account by far for the largest proportion of GDP while industry continues to decline in importance.

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India

Rank: 7

Sales in 2012: 2,654,835

Sales in 2011: 2,309,874

India, one of the fastest growing economies in the world, is not a major exporter but has a massive domestic market.

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Russia

Rank: 6

Sales in 2012: 2,935,111

Sales in 2011: 2,653,408

Russia, one of the biggest economies in the world, is a major powerhouse of oil and gas production.

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Germany

Rank: 5

Sales in 2012: 3,082,504

Sales in 2011: 3,173,634

Germany, one of the biggest economic powerhouses of the world, depends largely on its massive export sector.

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Brazil

Rank: 4

Sales in 2012: 3,634,421

Sales in 2011: 3,425,596

Brazil, one of the fastest growing economies in the world, is also one of the biggest exporters in the globe.

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Japan

Rank: 3

Sales in 2012: 5,670,315

Sales in 2011: 4,416,077

The economy of Japan is the third largest in the world by nominal GDP, the fourth largest by Purchasing Power Parity and is the world's second largest developed economy, according to Wikipedia.

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United States

Rank: 2

Sales in 2012: 14,491,873

Sales in 2011: 12,778,171

The US has the largest and most technologically powerful economy in the world, with a per capita GDP of $49,800. The US has abundant natural resources, a well-developed infrastructure, and high productivity and is the second-largest trading nation in the world behind China.

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China

Rank: 1

Sales in 2012: 19,306,400

Sales in 2011: 18,900,000

China, the fastest growing economy in the world, produces goods not only to satisfy its export sector but also to cater to its huge domestic market.