Top 10 Automobile Companies In India 2021

It is a well-known fact that the automobile industry is a steadfast driver of the Indian economy. The industry receives tremendous foreign investment and the country is also one of the top automotive exporters in the world. To stay afloat in this industry, a company must keep up with the advent of technology and varying demands in the market.

Top 10 Automobile Companies In India 2021

Here’s a list of the top 10 automobile companies in India that have managed to stay at the top of the game.

1. Tata Motors

Tata Motors Limited is an automotive manufacturing company that was founded in 1991 by industrialist J.R.D. Tata, the Chairman of the Tata Group. The company manufactures an extensive range of commercial and passenger vehicles with some of their best selling products being the Tata Nexon, Altroz, and Tiago.

The company’s CEO Guenter Butschek, who took over the helms five years ago has been credited for the change in the brand’s image from a company that makes comfortable, affordable vehicles to one that is being applauded for its sleek technology and innovative designs. Butschek’s contract, however, will be ending in July, and the company will be taken over by Marc Llistosella.

Market Presence

Tata Motors takes up a gigantic 37% of market share and has generated a revenue of 2.64 lakh crores INR in the fiscal year 2020 alone, an upward trend from last year’s revenue of 1.64 lakh crore INR.

Presence In Other Countries/Plans For Expansion

Tata Motors has a strong international network consisting of over a 100 subsidiaries, joint ventures, etc. such as the Jaguar and Land Rover acquired from Ford Motor Co. in the UK in 2008 and the Tata Daewoo in South Korea formed in 2002. Jaguar Land Rover has gone on to become Britain’s largest automotive manufacturer.

A range of Tata vehicles like the Indica, Indigo, Vista, Manza, Safari, Tiago, GenX Nano, Sumo, Nexon and Hexa is available for purchase in various countries in Africa and Latin America.

What Next?

Tata motors is expected to launch 9 new car models this year, including the Hexa, HBX, and Altroz EV. The company is also planning to launch a series of affordable electric vehicles with batteries that can last for over 200 km after charging. With the other companies in the Tata Group such as Tata Chemicals, Tata Power and Tata AutoComp, the group aims to provide an entire green ecosystem for those who wish to make the shift to electric vehicles.

Tata Motors
In The Image: J.R.D. Tata (Founder Of Tata Motors)

2. Maruti Suzuki

Maruti Suzuki is a subsidiary of the Japanese automobile manufacturer, Suzuki Motor Corporation. The erstwhile Maruti Udyog Limited was founded in the year 1981 by the Government of India and later merged with Suzuki in the following year. The company has been producing hatchbacks, crossovers and sedans in India since then. During the tenure of the current CEO Kenichi Ayukawa, Maruti Suzuki has also introduced many new models including an SUV Vitara Brezza and the compact hatchback, All new WagonR. Ayukawa was also instrumental in increasing the company’s market share to over 50% in 2018.

Market Presence

Maruti Suzuki currently holds 47.5% of the market share and reported a revenue of 78994 crores INR last year alone.

Presence In Other Countries/Plans For Expansion

Maruti Suzuki plans to expand their manufacturing capacity in their Gujarat plant to produce an added 7.5 lakh units, making the total production capacity to over 22.5 lakh units per year.

What Next?

The Board of Directors has recently taken a call to make their vehicles more sustainable and has approved proposals to adopt the Toyota Hybrid System in their upcoming models in order to set an example and encourage other manufacturers to look towards clean energy for their products.

Maruti Suzuki
In The Image: Kenichi Ayukawa (CEO Of Maruti Suzuki)

3. Hero MotoCorp

Hero MotoCorp, originally Hero Honda, was established in 1984 by Brijmohan Lall Munjal and is currently led by CEO Pawan Munjal. In 2010, the Hero Group and the Japanese Honda group parted ways and dissolved the joint venture following which Hero MotoCorp was born. The company is now the largest two-wheeler manufacturer in the country and in the world.

Market Presence

Hero MotoCorp currently holds a 46% market share in the two-wheeler segment and generated revenue worth 29614 crores INR in the last fiscal year, slightly more than 2019-20’s 29254 crores INR.

Presence In Other Countries/Plans For Expansion

Hero MotoCorp has eight established manufacturing plants—6 in India and one each in Bangladesh and Colombia and exports their goods to Africa, Latin America, and West Asia. The company was the first and remains the only Indian two-wheeler company to open a manufacturing facility in Latin America (Colombia). Hero is continually working towards catering needs of different global markets in order to establish a truly widespread global presence.

What next?

Since a sizeable portion of their revenue comes from the domestic rural market, Hero MotoCorp is looking to increase sales of their entry-level motorcycles post the finance budget’s plans to boost rural income. The manufacturer is also planning to make an entry into the middle-weight premium motorcycles segment which is currently dominated by the likes of Royal Enfield and Triumph. Keeping in line with that goal, they have recently partnered with Harley-Davidson to sell bikes and spare parts under the Harley-Davidson brand in India.

Hero Motocorp
In The Image: Brijmohan Lall Munjal (Founder Of Hero Motocorp)

 

4. Mahindra and Mahindra

Founded in 1945 by J. C. Mahindra. K. C. Mahindra, and M. G. Muhammad, Mahindra and Mahindra was initially a steel trading company. It was only in 1948 that they began manufacturing and selling MUVs. Soon, they became the licensed Jeep manufacturer in India and were also manufacturing LCVs and tractors for agricultural purposes. In terms of sales, Mahindra North America is the world’s leading tractor manufacturer. This year, the company is set to undergo a string of changes in management with current CEO Pawan Kumar Goenka’s retirement in April and some other top level executive positions being filled.

J.C Mahindra And K.C Mahindra (Founders Of Mahindra)

Market Presence

Mahindra and Mahindra holds a market share of 6.4% in the passenger vehicle segment and about 40% in the tractor segment. The company generated a revenue upwards of 95000 crores INR in the past year but the number of monthly sales has been somewhat stagnant.

Presence In Other Countries/Plans For Expansion

Mahindra is one of the largest tractor manufacturers in African countries including Algeria, Tunisia, Morocco, Egypt etc. and also has an established presence in several SAARC countries like Nepal and Sri Lanka.  In 2018, the company made and launched its first vehicle in the US, the ROXOR, which helped establish its presence in North America.

What Next?

The automobile manufacturer has several new models lined up for release shortly like the second generation Scorpio, XUV500 and Thar and already has a large waiting list. A new line of electric vehicles is also in the works. The CEO has said that they plan to fit all their SUVs and crossovers with electric powertrains in the future with a planned investment of 4000 crores INR.

Mahindra
Image Source

5. Bajaj Auto

Bajaj Auto was established in 1945 by Jamnalal Bajaj and has gone to become the world’s largest three-wheeler and two-wheeler manufacturer. It acquired manufacturing rights from Piaggio and began manufacturing Vespa scooters in India soon after. The company has also had joint ventures with Triumph Motorcycles and Kawasaki. The current CEO Rajiv Bajaj was credited with pulling the company out of a slump with the introduction of the Pulsar range of motorcycles.

Market Presence

Bajaj Auto has a market share of about 64% in the three-wheeler segment. In the two-wheeler segment, the market share dropped from 11.97% to 11.3%. Though there was a dip in domestic sales due to the pandemic, the company’s international presence kept it afloat with a total revenue of 29919 crores INR.

Presence In Other Countries/Plans For Expansion

Bajaj Auto has a strong presence in the African and Latin American markets and remains relatively unaffected by the economic downturn in the past year.  In 2007, equity stakes worth of Rs 345 Crore in KTM Power Sports Austria which is the second largest sport motorcycle manufacturer of Europe, were acquired by the subsidiary company of Bajaj’s subsidiary company, Bajaj Auto International Holding BV. Bajaj Auto also tied up with Japan’s Kawasaki in Indonesia and the Philippines.

Then, in 2017, a partnership between Bajaj Auto and Triumph Motorcycles UK was announced which enabled the company to offer a wider range of motorcycles do its domestic customers.

What Next?

A new plant exclusively for the manufacturing of its electric Chetak scooters is in the pipeline. Bajaj also plans to add several electric vehicle models to electric portfolio in a step towards the government-mandated towards 100% electric vehicles by 2030. By mid-2021 they even plan to introduce electric three-wheelers.

Bajaj Motors
In The Image: Jamnalal Bajaj (Founder Of Bajaj Motors)

6. Hyundai Motor India Limited

Hyundai Motor India Limited, a subsidiary of the Hyundai Motor Company in South Korea was founded in 1996. The company took of right away with its first vehicle, Hyundai Santro, becoming an instant hit among the Indian public. Under the leadership of one of the founders, Y K Koo, the company was making record profits and had become the second largest automobile manufacturer and exporter in India within months of its inception. Hyundai provides a range of vehicles including sedans, hatchbacks, SUVs, and EVs.

Market Presence

Today, the company makes up 7.3% of the market share and generated a revenue of 44000 crores INR in the past year, only a slight increase since 2019.

Presence In Other Countries/Plans For Expansion

Before the pandemic struck, Hyundai had plans to open a new factory in India, anticipating growing customer demand. However, due to the current economic slowdown, the plans have been put on hold for the next 2-3 years. CEO S S Kim said that the current capacity is enough to meet local and export needs so there is no need for immediate expansion.

What Next?

The company is planning to expand its SUV portfolio and will soon be launching a seven-seater SUV. They recently also showcased their new fuel cell options at the Auto Expo 2020 with plans to launch them in the near future, taking a step towards futuristic technology.

Hyundai Motors
In The Image: Y K Koo (Founder Of Hyundai)

7. TVS Motors

TVS Motors, the third largest Indian motorcycle company, was founded in 1978 by T. V. Sundaram Iyengar. The company is known for being the first in India to indigenously produce a four stroke motorcycle. TVS currently produces mopeds, scooters, motorcycles and auto rickshaws.

Market Presence

TVS Motors commands the automobile industry with a market share of 15.6% with last year’s returns being nearly 19000 crores INR, slightly more than last year.

Presence In Other Countries/Plans For Expansion

TVS Motors distributes its vehicles in more than 60 countries around the world and is the second largest exporter in India. The company had a year-long partnership with Suzuki during which they jointly developed several new models specifically for the Indian market. In April 2020, TVS acquired the UK-based Norton Motorcycle Company and the TVS-Norton motorcycles are expected to be launched later this year.

What Next?

TVS recently invested 30 crore INR in electric vehicle startup company, Ultraviolette Automotive, in addition to the 6 crores they had already invested in 2018.

The chairman of TVS Motors, Venu Srinivasan, said that they will be focusing heavily on improving their market shares internationally, especially in Africa and Latin America. They will also be increasing exports out of their plant in Indonesia.

TVS Motors
In The Image: T. V. Sundaram Iyengar (Founder Of TVS Motors)

8. Ashok Leyland

Ashok Motors, was founded in 1948 by Raghunandan Saran. They joined hands with England’s Leyland Motors in 1959 to form Ashok Leyland, India’s second largest commercial vehicle manufacturer, and the world’s third largest bus manufacturer.

Market Presence

Ashok Leyland remains a heavyweight in the automobile industry with a market share of almost 40% in the medium and heavy commercial passenger vehicles segment. The revenue generated in the year 2020 is about 22000 crores INR.

Presence In Other Countries/Plans For Expansion

Ashok Leyland has a strong global presence with manufacturing facilities in several countries including the United Arab Emirates, Nigeria, UK, and Sri Lanka. They also have a strong market presence in SAARC countries like Bangladesh and Nepal, and in the Middle East with exports of nearly 4000 units per year. The exports are expected to rise by over 20% in the coming years and the company is also looking into expansion in the CIS countries in the near future.

What Next?

Ashok Leyland recently launched the ATVR Modular Truck range with i-Gen6 BS-VI technology which is the first of its kind in India. It allows the buyer to customize the vehicle as per their needs – axle configurations, loading spans, suspensions etc. are fully customizable. With this move, they expect to see a rise is customer satisfaction and turnover. In 2018, it launched an electric bus and in the future, hopes to launch hybrid buses, the concept of which they introduced in the 2016 Auto Expo.

Ashok Leyland
In The Image: Raghunandan Saran (Founder Of Ashok Leyland)

9. EICHER Motors

Eicher Motors manufactures motorcycles and commercial vehicles. The company was established in 1959 with a German tractor company. By 1965, it was wholly owned by Indian shareholders. Eicher Motors is also the parent company of the middleweight motorcycle manufacturer Royal Enfield. The Former Chairman, Vikram Lal is said to be the mastermind behind the company’s raging success after he sold 13 out of 15 businesses to focus primarily on the two segments—motorcycles and trucks—that was making them the most money.

Market Presence

Eicher Motors has a market share of about 6% but its subsidiary, Royal Enfield, commands the market with a share of 96% in the 251-500 cc two-wheeler segment.

Presence In Other Countries/Plans For Expansion

The company’s manufacturing plants are spread across India and UK. Eicher also has a joint venture with the Swedish AB Volvo giving rise to the Volvo Eicher Commercial Vehicles Limited (VECV) which has been the flagbearer for the modernisation of commercial vehicles in India and elsewhere.

What Next?

The company is gradually rolling out small-format stores, primarily aimed at states where it is lesser known and does not have much brand value as in the rest of the country. Royal Enfield is further planning to expand into global developing markets, having identified a gap in the middleweight two-wheeler segment in Southeast Asia and Latin America.

Eicher Motors
In The Image: Vikram Lal (Former Chairman Of Eicher Motors)

10. Force Motors

Force Motors Limited prides itself in being a fully vertically integrated automobile company that makes all of the components for its vehicles. Established in 1958 by the Shri. N. K. Firodia, it has grown to become India’s largest van manufacturer. However, their portfolio is not limited to vans; they make SUVs, SCVs, MUVs, LCVs, and tractors.

Market Presence

With the number of sales rising every year, Force Motors currently holds a massive 60% of the market shares in the mid-sized van segment. In 2020, it made over 3000 crores INR in revenue, without much variance from the year before.

Presence In Other Countries/Plans For Expansion

Force Motors has a strong network of dealers all over the country and exports to large number of countries in the GCC, Germany, Africa and Latin America.

What Next?

Force Motors currently holds about 4-5% of market shares in the global van market. It plans to increase their holdings to 10% in the near future and has invested 1000 crore INR towards achieving this goal. The new global van, T1N, will come with different seating configurations and in both, diesel and electric avatars.

Force Motors
In The Image: Shri. N. K. Firodia (Founder Of Force Motors)