Did you know that India ranks as the fifth largest automobiles manufacturing country in the world?
India ranks as the world’s single largest manufacturer of three-wheelers and second largest producer of two-wheelers.
If all these are combined along with the number of cars, light and heavy commercial vehicles and assorted automobiles, India ranks at No-5 on the list of countries that manufacture the most number of autos.
Interesting figures about Indian Automobile Companies:
The automobile industry attracted more than (US $) 24 billion by March 2020 after implementing 100 per cent Foreign Direct Investment (FDI) and expected to grow to over (US $) 282 billion (including manufacturing of automobile components in late 2026).
A total of 26.36 million motor vehicles were produced in the year 2020, leading to a 2.36 percent increase in domestic production and 21.55 million motor vehicles sold in current financial year.
The main reason behind the growth of automobile companies are its increasing demand in the market, which mainly consists of middle class families and young consumers.
In this way, various automobile companies have shown similar interest in rural areas for their industrial diversification.
Currently the trend of electric motor vehicles has increased,
Hence Lithium Urban Technology has partnered with renewable energy solutions provider in March 2020 to develop charging infrastructure across the country.
If you wish to know which automobile companies are driving India’s surge as a leader in automobile manufacturing countries, here is our list.
List of Top 10 Automobile Companies in India
We have listed the top 10 automobile companiesin India based upon various parameters.
These include a number of models and quantity of vehicles made in recent years. The figures we quote are provided by various highly reliable sources in the industry.
Maruti Suzuki is a Joint Venture (JV) between India’s Maruti Udyog and Japan’s Suzuki Motor Corporation.
It is the largest automobile manufacturer in India. The company has been manufacturing automobiles since 1983.
During the fiscal year 2017-2018, Maruti Suzuki made a little over 1.6 million assorted vehicles for the domestic and export markets.
Maruti Suzuki’s total sales till mid-2020 are stated to be 108,064 units.
Their top models include Swift Dzire, Suzuki Grand Vitara, Suzuki Vitara and Suzuki Alto, among others.
Hyundai Motor India Ltd (HMIL) is a wholly owned subsidiary of South Korea’s automobile and engineering giant, Hyundai Motor Co (HMC).
HMIL is the second largest car manufacturer in India. It is also the leading exporter of cars made in India.
During the financial year 2017-2018, Hyundai Motors India made 527,320 cars and other vehicles for the domestic and export markets.
Hyundai Motor India notify 49.2% decline with the total number 21,320 units in its domestic market in the year 2020.
Its top-selling models include Eon, Santro, i10 and i10 Grand, Xcent, Verna, Elantra, Creta and Tucson.
Mahindra & Mahindra opened as a steel factory in 1945. Now it is a major business group in India that also manufactures an eponymous brand of automobiles.
Mahindra & Mahindra group is valued at US$ 20.7 billion. Their popular models include Scorpio, Bolero, XUV500, Xylo, Verito and Thar.
This top automobile company in India made some 242,365 assorted vehicles during the financial year 2017-2018.
This top automobile company in India sales 4,76,043 vehicles in FY2020.
Mahindra & Mahindra is also the world’s single largest manufacturer of tractors used for agricultural purposes. Mahindra & Mahindra automobiles are known for their rugged build and high performance.
The credit for launching India’s and the world’s first low-cost car goes to Tata Motor Co. This company is best known for its lowest-priced car in the world, Tata Nano.
Other than Nano, the company also makes Tiago, Nexon, Tigor, Sumo, Zest, Hexa and Safari models.
Tata Motor Co is a very reputed automobiles company in India and is also credited as best companies to work in India.
It made some 191,107 automobiles during the financial year 2017-2018. With its 75th anniversary in 2020, Tata Motors recorded total domestic sales of 4,42,052 as compared to 6,78,835 last year.
The company also manufactures passenger buses and trucks, among other vehicles. Tata vehicles are plying on Indian roads since decades.
5. Honda Cars
Honda Cars India Ltd is the Indian subsidiary of Japan’s automobile giant, Honda Motor Co Ltd.
It entered the Indian automobile market in 1995. Honda Cars India’s most popular models include Honda City, Honda Accord, Honda Jazz, Honda CR-V and Honda Brio, among others.
This large Japanese car manufacturer’s Indian operations accounted for some 178,755 automobiles made in India during the financial year 2017-2018 and annual sales of 102,016 units in 2019-2020.
The company’s automobiles are also exported to nearby countries.
A joint venture between Japan’s Toyota Motors and India’s Kirloskar Group, this company manufactures the world-renowned Toyota cars in this country.
The company was established in 1997 and has emerged as a leader in India’s automobile market. Toyota Kirloskar made 139,566 automobiles in India during the financial year 2017-2018
Toyota Kirloskar registred total sales of 36,387 automobiles in India till July 2020.
Their cars and other automobiles are popular in India and exported to foreign markets too.
Toyota’s most popular models in India include Toyota Innova, Toyota Camry, Toyota Prius, Toyota Yaris, Toyota Landcruiser and Toyota Fortuner, among others.
Renault India Pvt. Ltd is a wholly owned subsidiary of the eponymous French automobile manufacturer.
Owning a Renault car is considered as very prestigious among Indians.
Hottest models from Renault include Renault Duster, Renault KWID, Renault Captur and Renault Lodgy.
During the financial year 2017-2018, Renault India made 112,492 vehicles for the domestic and export markets, making it the seventh top automobile company in India.
According to a published report of Renault India, it has a sales of 3,50,000 KWID by 2020.
The company is planning to launch its electric cars in India and awaiting trials of this automobile in various markets.
Ranking at No-8 with 87,587 automobiles manufactured during the fiscal year 2017-2018 is Ford India Pvt. Ltd and total sales in FY2020 is 66,415.
As the name suggests, this is one of the top among automobile companies in India is wholly owned subsidiary of America’s auto giant, Ford Motors.
Ford India Pvt. Ltd was established in 1995. The company has seen ups and downs of the Indian economy and its car market.
Today, Ford is the highest selling American range of automobiles in India.
Their popular models include Ford Endeavor, Ford Figo, Ford Ecosport, Ford Aspire and Ford Freestyle, among others.
Founded in 2005, Nissan Motor India Pvt. Ltd is a top automobile company in India. It is subsidiary of the Japanese company, Nissan Motor Co.
The company’s cars and vehicles are very popular in India for their superior engines and sturdy chassis.
During the last financial year, 2017-2018, Nissan Motor India made 53,390 of its top notch vehicles for the domestic market and it recorded total 177,328 sales by the second quarter of FY2020
Their most famous models in India include Nissan Micra, Nissan Frontrunner, Nissan Kicks and Nissan GT-R, among others. It ranks as the ninth biggest auto manufacturer in India.
10. Volkswagen India
Volkswagen India Pvt. Ltd is subsidiary of the eponymous car company from Germany. Volkswagen India was incorporated in 2007.
It is a name synonymous with superb engineering and strong chassis typical of a German auto company.
Volkswagen has yet to achieve its fullest potential in the Indian market for many reasons.
In 2017-2018, Volkswagen India made some 47,796 vehicles, primarily for the domestic market whil in March 2020 Volkswagen register a sale of 131 units only.
Their most popular models include Volkswagen Beetle, Volkswagen Polo, Volkswagen Vento, Volkswagen Passat, Volkswagen GTI and Volkswagen Tiguan among others.
11. Bajaj Auto
Bajaj Auto deserves special mention in this article about top 10 Indian automobile companies for two reasons.
Bajaj Auto is the world’s single largest manufacturer of three-wheeler vehicles, commonly known as auto-rickshaws.
Secondly, Bajaj Auto is also the topmost manufacturer in India of quadricycles or a new age breed of four wheelers that are inexpensive to buy and offer high fuel economy.
Its first quadricycle, Bajaj Qute is expected to hit the Indian markets anytime soon.
12. Hero MotoCorp
Hero MotoCorp Ltd is the world’s single largest manufacturer of two-wheeler vehicles.
The company’s range of scooters and motorcycles are popular in India and exported to several countries worldwide.
They are made with the latest technology and are cost effective to buy and maintain.
Topmost models of Hero MotoCorp motorcycles include Hero Splendor, Hero Glamor, Hero Passion Pro, Hero Pleasure and Hero Duet, among others. Their range of bikes and scooters are reputed for fuel efficiency.
Prospects and opportunities in the automotive industry
As many companies have shown interest in the Indian market including remote areas of country due to 100 percent foreign direct investment, at the same time, the emphasis has been laid on the manufacture of motor vehicle components by the government.
Therefore, it would not be wrong to say that in imminent years, the opportunities for employment will effectuate the industrial workers.
By the way, for adolescent who want to pursue a career in the automotive industry, the road is also easy for them.
International experts in the automobile industry believe India will soon rise to the No-3 rank in vehicle manufacturing in the world.
Other than indigenously made cars and automobiles, India is also a large hub for car assembly for leading companies in the world.
Luxury cars like Mercedes Benz, BMW and Lexus are also assembled in India prior to delivery to clients. Otherwise, these top 10 auto companies in India continue to rule the market.
Remember one more thing, when you buy a car, make sure that you also have a car insurance because, it ensures your car and your safety as well.