The Top 5 Car Manufacturing Companies in India

Posted on: Oct 10, 2022 | 3 Min | Written by: HDFC ERGO Team

The Top 5 Car Manufacturing Companies in India

Cars are fast becoming one of the most preferred modes of transport among Indians. With an increase in income levels and striving for a better lifestyle, cars are now an indispensable part of our lives. If you want to buy a car, there are several manufacturers to choose from. However, the car insurance renewal task is on you entirely, and you must carry that out diligently to ensure coverage for your car.

Top Car Manufacturing Companies in India

India has been one of the leading consumers of four wheelers in the past decade or so. And the landscape of manufacturers in the country has changed as well. Gone are the times when only cars from foreign manufacturers ruled the roads along with their patented technology. At present, a few Indian manufacturers are leading the way. Not only have they been successful in building cars that can withstand the pressure from foreign manufacturers, but they also excel in understanding the Indian mindset. Thus, they can create cars that are big hits among Indians. It is not surprising then that Indian manufacturers enjoy a healthy share of the car sold in the country. Though there are a lot of amazing car manufacturers in the country, the following is a list of the top 5 performing manufacturers.

Maruti Suzuki

Maruti Suzuki holds the distinction of being the leading car manufacturer in the country. Till July 2022, it held a market share of 41% of the total number of cars sold in the country. The brand holds a rich history in the Indian automotive space, being a recognised brand for over 30 years. Maruti Suzuki is a household name and offers a wide range of cars for enthusiasts to choose from. The manufacturer has options for everyone, from commercial vehicles to passenger vehicles.

Here are some of the most popular models of Maruti Suzuki across different segments.

● Maruti Suzuki Wagon R

● Maruti Suzuki Swift

● Maruti Suzuki Baleno

● Maruti Suzuki Eeco

● Maruti Suzuki Dzire

For the financial year 2019-2020, the company recorded revenues of Rs. 78,994 crores out of which Rs. 5,559 crores were its net income.

The name Maruti has become synonymous with affordable maintenance and ease of service. No matter where you are in the country, you will find a Maruti Suzuki service centre nearby. Combined with regularly updated models, it is quite understandable why the brand is the leading manufacturer in the country.

Tata Motors

The homegrown car manufacturer has its brand name deeply associated with words like faith and trust. The brand has been manufacturing commercial vehicles since 1954, and it was only in 1991 that the brand ventured into the passenger vehicles segment. Tata Motors has taken quite a few brave decisions on the way, and it reflects in its products as well.

The brand is known for making one of the most affordable cars, the Tata Nano, priced at Rs. 1 lakh only. Over the past few years, the brand has produced some world-class cars. And to prove that their cars are world-class, Tata Motor sent their cars to the much-coveted NCAP Global crash testing agency. Tata Nexon was the first made-in-India car to receive 5 Stars at the Global NCAP crash tests, the highest that a car can get.

Subsequently, a lot of cars from Tata Motors have come with exceedingly good results at NCAP. This shows the commitment of the brand toward making safe cars for Indians. The brand now has cars in most segments, starting from hatchbacks to SUVs to compact SUVs.

Here are some of the most popular models of Tata Motors across different segments.

● Tata Nexon

● Tata Punch

● Tata Altroz

● Tata Harrier

● Tata Safari

Tata also has great performers in the commercial vehicle space in the form of Tata Ace and the Tata Starbus. For the financial year 2020-21, the total revenue of Tata Motors stood at Rs. 3,19,247 crores.

Hyundai

Hyundai is attributed to being the first car manufacturer to challenge the Numero Uno status of Maruti Suzuki. Hyundai is known for building some of the most comfortable cars in the country and packs them up with a ton of features. Thanks to its advancement in technology, Hyundai is immensely popular in the country with its strong product lines. Hyundai sits comfortably in the second spot when it comes to cars being sold in the country. Only being nudged at times by Tata Motors.

The company has some iconic models in its lineup, including the Santro. First launched in 1998, the car changed the landscape of small cars for a long time. And it made Hyundai the largest exporter of cars in India.

Here are some of the most popular models of Hyundai across different segments.

● Hyundai Creta

● Hyundai Grand i10

● Hyundai i20

● Hyundai Venue

● Hyundai Verna

Mahindra and Mahindra

Mahindra and Mahindra are other homegrown car manufacturer that has grown steadily in the past decade. The brand which was once known for building sturdy tractors is now known for making futuristic looking cars that are packed with features to the brim. The brand was established in 1945 and has the distinction of manufacturing SUVs, lightweight commercial vehicles, tractors and even bikes.

Mahindra and Mahindra have been one of the early adopters of the Electric Vehicle bandwagon along with Tata Motors. The manufacturer has produced some of the most iconic SUVs in the country such as Scorpio, and Thar.

Here are some of the most popular models of Mahindra and Mahindra across different segments.

● Mahindra Bolero

● Mahindra Scorpio

● Mahindra XUV700

● Mahindra Thar

● Mahindra XUV300

Mahindra and Mahindra reported revenues of Rs. 74,277 crores for the financial year 2020-21, out of which Rs. 3,347 was its net income. As far as SUVs in the country are concerned, Mahindra and Mahindra is a leading manufacturers of SUVs.

Honda

The brand entered India in the year 1995 as Honda Siel Cars India, a joint venture. The Japanese automobile giant launched the Honda City in 1998, and it helped the brand seal the right image. The car not only helped the grand set a strong foot in the country but also become a leader in the sedan space.

Honda city almost has a legendary status in the country. Apart from the City, Honda has launched several cars over the years across different segments. And it continues to update its cars regularly to keep up with the competition. The brand has become equivalent to advanced technology engines, sturdily built bodies, and fuel-efficient cars.

Here are some of the most popular models of Honda across different segments.

● Honda City

● Honda Amaze

● Honda Jazz

● Honda WRV

For the financial year 2018-19, Honda’s Indian subsidiary had total revenue of Rs. 16,593 crores.

Conclusion

The car landscape has improved by leaps and bounds over the past few years. As new manufacturers enter offering better models and features, the existing manufacturers are also buckling up to take on the new challenges. On completing your thorough analysis of the make and model, you can purchase the car. As you buy a new car, the dealership will mostly provide you with a car insurance policy. Car insurance renewal onus is on you after the purchase of the car. Car insurance renewal must be done yearly to ensure adequate coverage, or you can opt for long-term plans to avoid renewing every year.

Disclaimer: The above information is for illustrative purpose only. For more details, please refer to policy wordings and prospectus before concluding the sales.

Car Insurance Background Check: Why and How is it Done?

Car Insurance Claims & IDV - Everything You Need to Know!

Changing your car insurance company? Keep these tips handy

HDFC ERGO Takes a Technological Leap with AI Based Motor Claims Processing

My address has changed. Does my car insurance company need to know this?