The Indian automotive industry has extended tremendously in the last few years. Earlier, the options remained limited. Our grandparents had to choose either ambassador or Premier Padmini. Later in 1983, Maruti 800 was launched and it was a game-changer for the industry. Maruti sold more than 2.6 million units of car and the market used to be Indian middle-class families. By 2016, many new car manufacturers were introduced in the market with budget vehicles and more models came to the ramp. Apart from Maruti, Hyundai, and Mahindra hold a major market share in India covering up 70% of the passenger car market. Our country is receiving foreign investment doe to the growth in this sector. India is a leading auto exporter and now every new company is launching new models keeping the demand and needs of customers. The majority of India’s car manufacturing companies are located in Chennai, near Mumbai, Pune, Nashik, Aurangabad, Gurgaon, and Manesar. Here are given the top 10 list of automobile manufacturers in India based on the revenue of the company.
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1. Tata Motors
Tata motors are the leading automobile manufacturers in India and across the globe providing solutions to more than 175 countries. The leading automobile company has headquarters in Mumbai with more than 40000 employees. They manufacture a wide range of vehicles like cars, SUVs, trucks, and buses. Tata motors have 90,000 employees and the market capital is Rs. 41,562 Cr. The market share of passenger vehicle is 6.3% and commercial vehicle is 45.1%. The company has a joint venture with Jaguar Land Rover in the UK and Tata Daewoo in South Korea. Tata motor offers automotive products for small, medium, large, and passenger vehicles.
2. Maruti Suzuki India Limited
Maruti is a very popular brand and most demanding among Indian people. The company was established in 1981. The company came into existence after signing a joint venture with the Government of India and SMC, Japan in 1982. They are the second-largest automobile company in India by revenue. The revenue of the company is Rs 83281 Cr and the market capitalization of Rs 199, 130 Cr. Many prefer buying their first passenger car from Maruti and now they have a great collection of a passenger car in the different price segments. They hold 42% of the market and average monthly sales are more than 110000. Maruti brand creates a high level of trust among Indian customers. They have developed a robust dealership network supported by the largest service system in the country.
3. Mahindra and Mahindra Limited
Mahindra is the third largest automobile company by sales. The brand is India’s home-grown automaker and they are leaders in transportation in rural India. The brand is well-known for manufacturing mobility products and farm solutions and their first vehicle was assembled in 1947. Today the company offers a wide range of solutions ranging from SUVs to electric vehicles, pickups, commercial vehicles, tractors, two-wheelers, and construction equipment. The brand has a revenue of Rs 53,017 Cr and a market capitalization of Rs 70,725 Cr. The market share of passenger vehicles is 7.4%, tractor 40.2%, and LCV 44.5%. They mainly focus on strong rugged image vehicle and they have built a reputation for reliability. The brand is quite popular among Indian youngsters because they are easy to maintain.
4. Hyundai India
Hyundai Motor India is one of the largest automobile manufacturers and also the number one exporter to countries across Africa and the Middle East. The company has two manufacturing plants in Chennai with the most advanced product quality and testing capabilities. Their first passenger car to be introduced in the Indian market was Hyundai Santro and now they have 10 popular models of car. They are constantly innovating with their vehicles and improving the built quality, also after-sale service. The company keeps on launching new models from budget to expensive with varying prices. With some models, they earned success while others slipped into single-digit sales within months.
5. Hero MotoCorp Limited
Hero Motocorps is the largest two-wheeler manufacturers and the company is based out in Delhi, India. Hero Motocorps previously was known as Hero Honda and the brand has made its presence in countries across Asia, Africa, and South & Central America. They have more than 90 million satisfied customers across the globe and continue manufacturing a variety model of bikes and scooters. The company has revenue of Rs 32,871 Cr and market capital of Rs 57,180 Cr. The two-wheeler manufacturer has employees in 8551 and holds a market share of 36.0%. They hold a workforce that comprises people from different nationalities including India, Bangladesh, Germany, Austria, Japan, and France. They are dominant market leaders in India and have 7 manufacturing centers globally including five in India and one each in Columbia and Bangladesh.
6. Bajaj Auto Limited
Bajaj auto is the largest manufacturers of three-wheelers and their business stretches over a wide range of industries, and spanning automobiles. Bajaj is a popular brand and we are hearing the name since our childhood, the slogan “Hamara Bajaj”. Earlier Bajaj Chetak scooter used to be quite common among Indian middle-class families and then was introduced bajaj motorbikes for youngsters. The brand still holds the top position in the production of 3 wheelers in the world with the Indian market share of 18.7%. The company has employees 8064 and revenue of Rs 30, 598 Cr. The brand is quite favored in Latin America, Africa, the Middle East, and Southeast Asia.
7. Honda Motor Company
Honda motor company was established in the year 1995 and initially, the company was known as Honda Siel Cars India LTD. Later the company joined with Usha International and changed the name to Honda Motor Company. The Japanese brand offers India the most popular sedan, Honda City. They are leading manufacturers of premium segment passenger cars in India and all of their products are technologically advanced. The brand name, Honda always holds a special place in the hearts of Indians. The Honda models city, Jazz, CRV, and Mobilio have been appreciated by buyers with sharp design and edgy styling. The vehicle is fuel-efficient and the pricing remains competitive compared with other high-end brands.
8. TVS Motor Company
TVS is one of the largest two-wheeler manufacturers in India. The company has revenue of Rs 15129 Cr and market capital of Rs 20,178 Cr. The TVS company has 5121 employees and has three manufacturing plants located in various parts of India and one in Indonesia. The brand is well known for tires and affordable model bikes. The company exports its vehicles to more than 60 countries and they have won many awards. TVS motors are engaged in manufacturing motorcycles, scooters, mopeds, three-wheeler parts and accessories.
9. Ashok Leyland
Ashok Leyland belongs to Hinduja Group, and they are 2nd largest manufacturers of commercial vehicles in India. They also manufacture big trucks and buses. The revenue of the company is Rs 28476 Cr and market capitalization is Rs 20314 Cr. The company located in Chennai was established in the year 1948. The automobile company makes engines for Industrial and marine applications including spare parts. They are leaders of medium to heavy vehicles to buses. They have ventured with Nissan Motors and the products they produce include U-Truck, Dost, Boss, and Minivan. Ashok Leyland has a well-diversified portfolio across the automobile industry.
10. Toyota
Toyota Motors are one of the largest car manufacturers in India with a joint venture with Kirloskar Group. Toyota is a high-end brand and most of its models remain expensive. It’s worth to invest in Toyota’s SUVs and sedan vehicles. Innova is their most popular vehicle and the car has higher demand among the taxi segment. Despite premium pricing and a long waiting period, Innova continues to be the market leader. The Japanese company focuses on manufacturing SUV and MPV. The Fortuner is a great success and the premium car has a higher demand in the used car segment. Toyota Etios Sedan is a preferred choice among taxi drivers, as it is spacious and provides good comfort to the riders.
11. Eicher Motors Limited
Eicher motor is the parent company of Royal Enfield bikes and they manufacture middleweight motorcycles and commercial vehicles in India. The company headquartered in New Delhi was founded in the year 1948 by Vikram Lal. The world’s oldest motorcycle brand Royal Enfield remains popular and most demanding among Indian men of all age groups. Royal Enfield is manufactured in Tamil Nadu and apart from this; the Eicher group produces trucks, Volvo trucks, tractors, and a range of buses in India. In addition to the motorcycle, they have a joint venture with Sweden AB Volvo – VECV which has a complete range of trucks and buses from 5-55 tonnes.
12. Force Motors Limited
Force Motors was established in 1958 and its vision was to provide affordable commercial transport for the people in India. The company has a turnover of Rs 3487 Cr and a market capital of Rs 1155 Cr. The famous iconic brand in India produces a range of vehicles like Tempo, Matador, Tax Cruiser, and Traveller. They manufacture agriculture tractors as well. They offer economical, reliable, and efficient vehicles equipped with the latest technology.