Top 10 automobile companies in India, Automobile Industry Tour
India is expected to emerge as the world’s third-largest passenger vehicle market by 2024.
In Fiscal Year 2023-24,
- sale of passenger vehicles increased by 3.9%
- two-wheeler increased by 29%
- three-wheeler increased by 27%
Overall, automotive exports increased by 1.4 percent in April-March 2024. The automobile industry is a major pillar of the Indian economy. As a result, when the manufacturing sector suffers a loss, the entire economy suffers as well.
The producers who make this sector outstanding have solved all of the challenges, such as the switch to BS6 and guaranteeing that the pillar remains upright. Today, we’ll look at the Top 10 Automobile Companies in India 2023-2024 from 2016 to 2024.
Top 10 Automobile Companies in India 2024
01 – Maruti Suzuki
- Parent organization – Suzuki (56.37%)
- CEO: Hishahi Takeuchi
- Founder – Government of India
- Founded – 1982, Gurugram
- Headquarters – New Delhi
Maruti Suzuki Revenue: 1,40,933 crores INR
Best automobile companies in India -Maruti Suzuki India Limited, formerly known as Maruti Udyog Limited, is a subsidiary of Suzuki. Maruti Suzuki has always been the market leader in terms of sales. With a sales market share of greater than 50%. As the BS6 emission standards take effect in 2020–2023, the corporation has opted to phase out diesel engines in favor of petrol engines.
Maruti Suzuki was the first automaker in India to launch a BS6-compliant range. The company has sold over 7.5 lakh BS6 vehicles, the most of any automaker.
02 – Hyundai Motors
- Headquarters – Seoul, South Korea
- Parent organization – Hyundai Motor Group
- CEO – Jaehoon Chang
- Subsidiaries – Kia, Hyundai Automotive South Africa
Hyundai Motors revenue: KRW 40.66 trillion
Hyundai Motor India Limited (HMIL) is the largest passenger vehicle exporter and second-biggest automobile manufacturer in India (Best automobile companies in India) and is a fully owned subsidiary of Hyundai Motor Company (HMC) in South Korea. For the ninth year in a row, it has been the country’s top exporter of passenger automobiles.
It is India’s second-biggest vehicle manufacturer, with a 16.2% market share and a turnover of US$125.6 billion as of February 2022.
03 – Tata Motors
- CEO – Marc Llistosella
- Parent organization – Tata Group
- Headquarters: Mumbai
- Subsidiaries: Jaguar Land Rover, Jaguar Cars, Tata Technologies
Tata Motors revenue 437.9K Cr. INR
Best automobile companies in India– Tata Motors Limited is an Indian multinational automobile manufacturer based in Mumbai, Maharashtra. Tata Group, an Indian conglomerate, owns it. Passenger cars, trucks, vans, coaches, buses, sports cars, construction equipment, and military vehicles are among the company’s products and services. In the fourth quarter of the financial year, Tata Motors saw a 222 percent increase in revenue (Q4-Jan-Mar 2024).
In comparison to 32,000 units sold in the same period last year (2020), the manufacturer sold 5.53 Lakh units this year (2023).
04 – Toyota Motors
- Founder: Kiichiro Toyoda (Japan)
- Subsidiaries: Lexus, Daihatsu, Toyota Racing Development, etc.
- Parent organization: Toyota Group
Toyota Motors revenue: 298 billion U.S. dollars.
In August 1937, Toyota Corporation was founded. In 1997, the firm began operations in India in conjunction with the Kirloskar Group. Toyota Motors is India’s fourth-largest automobile manufacturer, and its sedan models are often considered among the best. For FY 2023, the company saw an 8.15 percent increase in top-line revenue (ended March 2024). Toyota’s automotive division is predicted to generate $298 billion in sales in 2024.
05 – Kia Motors
- Parent organization: Hyundai Motor Company (33.88%)
- Subsidiaries: Kia Motors (UK) Limited, National Arab Motors Co, etc.
- Headquarters: Seoul, South Korea
- Founder: Kim Cheol-ho
Kia Motors revenue: $75.81 B
Kia Corporation, or just Kia, is a global vehicle manufacturer based in Seoul, South Korea. Kia Motors Corporation was established in May 1944 and is Korea’s oldest automobile manufacturer. A global network of over 3,000 distributors and dealers sells and services these cars in 172 countries.The company employs over 51,975 people and generates over US$17 billion in yearly revenue.
06 – Skoda
- Parent organization – Volkswagen Group
- Headquarters – Mlada Boleslav, Czechia
- Founded – 18 December 1895, Mlada Boleslav, Czechia
- Founders – Václav Laurin, Václav Klement
Skoda revenue: €26.5 billion
Skoda Auto India Pvt Ltd., a subsidiary of Skoda Auto, one of Europe’s fastest-growing automobile manufacturers, has been functioning in India since November 2001. It has established a sophisticated manufacturing facility in Shendra, Maharashtra, near Aurangabad. The plant has a total area of 300,000 m2. The firm operates 200 locations around the country.
In September 2020, the firm sold a total of 1,328 units, a straight 28 percent increase over sales a month prior, when the business sold 1,040 units.
07 – M.G. Motors
- Parent organization – SAIC Motor Corporation
- Headquarters – London, United Kingdom
- Founders – Cecil Kimber
M.G. Motors revenue : US$4,741m in 2024
Chinese automobile companies in India- MG Motor India, often known as Morris Garages, is the Indian subsidiary of SAIC Motor, a Chinese automaker. The subsidiary was established in 2017 and will begin selling and producing in 2019. MG Motor now has over 65 dealerships spread over 50 locations across the country. In 2023, MG Motor India saw a 27% increase in retail sales, reaching 56,902 units.
08 – Mercedes
- Parent organization: Daimler AG
- Founder: Karl Benz
- Founded: 1926
- Headquarters: Stuttgart, Germany
- Subsidiaries: Mercedes-AMG
Mercedes revenue : €134.7 billion
Mercedes-Benz India Pvt Ltd, headquartered in Pune, is a fully owned subsidiary of the German Daimler AG, which was created in 1994. This facility, located in Chakan, Maharashtra, was established in 2015 and is one of the quickest green-field operations ever developed, as well as one of Mercedes-top Benz’s CKD plants globally.
09 – Volkswagen
- Founder: German Labour Front
- Founded: 28 May 1937
- Parent organization: Volkswagen Group
- Headquarters: Wolfsburg, Germany
Volkswagen revenue: 4.6 billion euros
The Volkswagen Group is represented by 5 brands such asAudi, SKODA, Volkswagen, Porsche, and Lamborghini. The Volkswagen Group is headquartered in Pune (famous as the top automobile company in India), Maharashtra. The Volkswagen facility in Chakan has a total area of nearly 2.3 million square meters (572 acres) and has a full three-shift production capability of up to 200,000 cars per year.By 2025, the business aims to increase sales from the existing 15,000 units to 100,000 units.
10 – Honda
- Company full name – Honda Motorcycle & Scooter India Pvt. Ltd. (HMSI)
- Subsidiaries: Acura, Honda R&D, Honda Atlas Cars, etc.
- Founder – Soichiro Honda
Honda revenue: $140,959
Honda Motor Company owns Honda Cars India Ltd., a car manufacturer in India. The firm was founded in 1995 to provide Indian clients with the newest Honda passenger vehicle models and technology. In FY 2018-19, Honda Cars India saw an increase of 8% in yearly sales, while in March 2019, the company saw a 27% increase. In March 2014, the firm reported monthly domestic sales of 7,071 units, up from 6,589 units in the same month the previous year.
List of Top 10 automobile companies in India
- Maruti Suzuki
- Hyundai Motors
- Tata Motors
- Toyota Motors
- Kia Motors
- Skoda
- G. Motors
- Mercedes
- Volkswagen
- Honda
FAQ
Who are the Top 10 best automobile companies in India?
The top 10 best automobile companies in India are as follows: –
- Maruti Suzuki
- Hyundai Motors
- Tata Motors
- Toyota Motors
- Kia Motors
- Skoda
- G. Motors
- Mercedes
- Volkswagen
- Honda
Who are the Chinese automobile companies in India?
Chinese automobile companies in India – MG Motor India also famous as the top automobile companies in India, often known as Morris Garages, is the Indian subsidiary of SAIC Motor, a Chinese automaker. The subsidiary was established in 2017 and will begin selling and producing in 2019.
Who are the new automobile companies in India?
The new automobile companies in India are as follows: –
- Rimac Automobili
- Rimac Automobili
- Venturi Automobiles
- Shelby Supercars
- Lightning Car Company
Who are the top 5 best automobile companies in India list?
The top 5 best automobile companies in India list are as follows: –
- Maruti Suzuki
- Hyundai Motors
- Tata Motors
- Toyota Motors
- Kia Motors
Which is the biggest automobile company in India?
Best automobile companies in India – Maruti Suzuki India Limited, formerly known as Maruti Udyog Limited, is a subsidiary of Suzuki, a Japanese automaker. Maruti Suzuki has always been the market leader in terms of sales.
