Top 10 Automobile Companies in India: Leading Brands and Their Market Share

In 2023, India became a major player in the automobile manufacturing industry due to several reasons. One is its vast population, which has created a high demand for autos. With rising disposable income levels, more people can afford to buy cars. 

The Indian government has also supported the industry through tax breaks and subsidies, encouraging growth. The availability of skilled labour has also played a role in India’s success in automobile manufacturing. 

India has a favourable business environment, which has created an excellent environment for the industry to flourish. Due to these factors, the Indian automotive sector is expected to grow in the coming years and become one of the world’s largest automotive markets. 

This growth will create new opportunities for manufacturers and suppliers and positively impact the economy by providing jobs and contributing to economic development.

What Do Automobile Companies Do?

Automobile companies design, make and sell vehicles like cars, trucks, and buses. They offer services such as financing, insurance, and roadside help. These companies are a significant part of the economy and create many jobs worldwide. 

Indian automobile companies are also part of this industry. The automobile industry is improving vehicle safety, efficiency, and performance through research and development.

Which Are the Top 10 Automobile Companies in India?

The Top 10 Automobile Companies in India Are:

• Maruti Suzuki India Ltd.
• Tata Motors Ltd.
• Mahindra & Mahindra Ltd.
• Hyundai Motor India Ltd.
• Honda Cars India Ltd.
• Toyota Kirloskar Motor Pvt. Ltd.
• Renault India Pvt. Ltd.
• Nissan Motor India Pvt. Ltd.
• Skoda Auto India Pvt. Ltd.
• Volkswagen India Pvt. Ltd.

The top 10 Indian automobile companies produce many vehicles, including small cars, SUVs, and luxury cars. They operate in various markets across India and contribute significantly to the economy.

1. Maruti Suzuki India Ltd.

Maruti Suzuki India Ltd. is an Indian automobile manufacturing company established on February 24, 1981, under the name Maruti Udyog Limited. Its headquarters are located in New Delhi, India. 

The Government of India founded the company in collaboration with Suzuki Motor Corporation, a Japanese multinational corporation.

Maruti Suzuki India Ltd. is one of the largest automobile companies in India and provides a wide range of services. The company is primarily engaged in the manufacturing and selling of cars and related accessories. 

Its diverse product portfolio includes compact cars, hatchbacks, sedans, and utility vehicles. In 2023, Maruti Suzuki India Ltd. reported over $15 billion in revenue and had over 19,000 employees.

2. Tata Motors Ltd.

Tata Motors Ltd. is a leading Indian automobile company that manufactures various commercial and passenger vehicles. The company was founded in 1945 and has its headquarters in Mumbai, India. Tata Motors Ltd. is a subsidiary of the Tata Group, one of the largest groups in India.

Tata Motors Ltd. offers many vehicles, including cars, trucks, buses, and military vehicles. Some popular cars the company manufactured include the Nexon, Punch, and Altroz. In 2023, Tata Motors Ltd. reported a revenue of over $44 billion and around 85,000 employees.

3. Mahindra & Mahindra Ltd.

Mahindra & Mahindra Ltd. is one of the best Indian automobile companies, with a rich history dating back to its establishment in 1945. The company was founded by brothers K.C. Mahindra and J.C. Mahindra along with Ghulam Mohammad and headquartered in Mumbai, India.

Mahindra & Mahindra is known for providing its customers with a wide range of automobiles and services. Their most-selling cars include Scorpio, XUV 700, and Bolero. 

The company manufactures utility vehicles, tractors, commercial vehicles, and two-wheelers and offers financial and tourism services. As of 2022, Mahindra & Mahindra reported revenue of $18 billion and a workforce of over 1,50,000.

4. Hyundai Motor India Ltd.

Hyundai Motor India Ltd. is a subsidiary of Hyundai Motor Company, a South Korean multinational automotive company. It is one of the most renowned Indian automobile companies and was established on May 6, 1996, with its headquarters in Chennai, Tamil Nadu.

The company provides various services, including design, development, production, sales, and service of passenger cars, SUVs, and commercial vehicles. Their most selling cars include Creta, Grand i10, and Venue.

In 2022, Hyundai Motor India Ltd. reported a revenue of $8 billion and has over 20,000 employees working in various functions, including manufacturing, engineering, design, sales, and service.

5. Honda Cars India Ltd.

Honda Cars India Ltd. is a subsidiary of the Japanese multinational automotive corporation Honda Motor Company Ltd. The company was established in 1995 and is headquartered in Greater Noida, Uttar Pradesh, India. 

The founder of Honda Motor Company, Mr Soichiro Honda, is also the founder of Honda Cars India Ltd., one of the most renowned Indian automobile companies that specialise in producing and selling cars, SUVs, and hybrid cars. 

Their selling cars include Honda Amaze and Honda City. In 2022, Honda Cars India Ltd. reported approximately $8 billion. The company has a workforce of over 10,000 employees in India.

6. Toyota Kirloskar Motor Pvt. Ltd.

Toyota Kirloskar Motor Pvt. Ltd. is a subsidiary of Toyota Motor Corporation, Japan, one of the most renowned Indian automobile companies. It was established on October 6, 1997, as a joint venture between Toyota Motor Corporation and the Kirloskar Group. The company is headquartered in Bangalore, India.

Toyota Kirloskar Motor Pvt. Ltd. offers a wide range of vehicles in the Indian market, including sedans, SUVs, MUVs, and hatchbacks. The company is known for its quality and reliability in the automobile industry. 

Their most-selling cars include Fortuner and Innova Crysta. In 2022, Toyota Kirloskar Motor Pvt. Ltd. reported revenue of $10 billion. The company has a total employee strength of around 8,000 in India.

7. Renault India Pvt. Ltd.

Renault India Pvt. Ltd. is a subsidiary of the French automobile manufacturer, Renault, established in 2005 in India. The company is headquartered in Chennai, Tamil Nadu and has a manufacturing facility in Oragadam, near Chennai.

The company’s founders are Louis Renault, Marcel Renault and Fernand Renault. Renault India Pvt. Ltd. offers a range of cars across segments, including sedans, SUVs and vans. 

Some popular models of Renault in India include Kwid, Duster, and the recently launched Kiger.  In 2022, Renault India recorded a revenue of $2 billion, with a total employee strength of 10,000.

8. Nissan Motor India Pvt. Ltd.

Nissan Motor India Pvt. Ltd. is a subsidiary of Nissan Motor Co. Ltd. of Japan and was established on 17th December 2005. It is headquartered in Chennai, Tamil Nadu, and its founder is Carlos Ghosn.

Nissan Motor India provides a range of automobile-related services, including design, development, manufacturing, marketing and sales of vehicles under the Nissan and Datsun brands. Their most-selling cars are Nissan Magnite and Nissan Rogue.

As of 2023, Nissan Motor India has 220 dealerships and service centres in India, employs over 4,500 people, and reported a revenue of $400 million. 

9. Skoda Auto India Pvt. Ltd.

Skoda Auto India Pvt. Ltd. is a subsidiary of Skoda Auto, a Czech automobile company. It was established in 2001, and its headquarters are in Pune, India. 

The company was founded by Laurin & Klement in 1895 and later merged with Skoda Works in 1925. Skoda Auto India Pvt. Ltd. provides a range of automobiles, such as sedans and SUVs. It has a vast network of dealerships and service centers across India. 

Their most-selling cars include Kushaq and Slavia. In 2022, Skoda Auto India Pvt. Ltd. reported a revenue of €21 billion, and the company has around 5,000 employees in India.

10. Volkswagen India Pvt. Ltd.

Volkswagen India Pvt. Ltd. is a subsidiary of Volkswagen AG, a German multinational automotive manufacturing company. Volkswagen India was established in 2007, headquartered in Pune, Maharashtra. 

Ferdinand Porsche founded the company to manufacture and sell high-quality, efficient, innovative automobiles. Their most-selling car includes Taigun and Vento.

The company is in over 155 countries, with production facilities in 15 countries. In 2022, Volkswagen India recorded a revenue of $400 million and around 7,000 employees.

Faqs

1. Which is the Best Car Company in India?

Maruti Suzuki India Ltd. is one of the largest automobile companies in India,  established on February 24, 1981. It provides a wide range of services.  In 2023, Maruti Suzuki India Ltd. reported over $15 billion in revenue and had over 19,000 employees.

2. Which Are the Top 5 Automobile Companies in India?

The top 10 automobile companies in India are:

• Maruti Suzuki India Ltd.
• Tata Motors Ltd.
• Mahindra & Mahindra Ltd.
• Hyundai Motor India Ltd.
• Honda Cars India Ltd.

The top 10 Indian automobile companies produce many vehicles, including small cars, SUVs, and luxury cars. They operate in various markets across India and contribute significantly to the economy.

3. Why Are Automobile Companies Leaving India?

Automobile companies leaving India can be attributed to various factors such as supply chain challenges, high taxes, increasing competition from domestic companies, and the impact of the COVID-19 pandemic. However, it should be noted that not all companies are leaving, and many continue to invest in India’s growing market.

4. How Many Indian Car Companies Are There?

According to the LazyLeads survey, more than 14,000+ automobile companies are in India, and the number is increasing daily. On the other hand, the United States has 99,000+ automobile companies. 

5. What is the Market Value of the Indian Automobile Industry?

According to Invest India, the market value of the Indian automobile industry is more than 222 billion. 

Conclusion

In conclusion, the Indian automobile industry has experienced remarkable growth in recent years, with several companies making significant strides in the market. These Indian automobile companies have played a crucial role in developing the industry, each contributing their unique strengths.

These automobile companies have established themselves as prominent players in the industry, offering a diverse range of products and services tailored to meet the needs of Indian consumers.