Every year the ICOTY (Indian Car of the year) jury votes on two additional awards in addition to the Indian Car of the Year - The Premium Car Award and the Green Car Award by ICOTY. These awards were instituted to address two growing segments in the Indian car industry. The jury believed that the premium and green car segments otherwise were at a disadvantage in the running for ICOTY courtesy of their relatively higher price tags and lesser mass market significance.

The Premium Car Award, which came into existence in 2019, not only gets voted on by the same jury, but the voting system remains unchanged as well. A juror has to work with 25 points, which must be awarded to a minimum of five cars with a maximum top score of 10 points for any one of the finalists.

This year the shortlist for the Premium Car Award included five cars, four of which were from Mercedes-Benz. The cars included the new S-Class, the GLA 35 AMG SUV, the A 35 AMG sedan, and the A45 AMG S hatchback. The fifth car on the shortlist was the new Volvo S60.

As has been the case over the last few years, the jury round for the ICOTY 2022 awards took place at the BIC this year as well.