15+ Top Automobile Companies in India (2023)

Looking to purchase a new vehicle? Or just wondering what are the top automobile companies of India?

Here we’ve curated the complete list of the top automobile companies in India based on the range of vehicles in different segments, total revenue, net profits, total assets, and much more to help you decide on the best automobile manufacturers in India.

According to a recent report, India is the 4th largest automobile market surpassing Germany in terms of sales. Also, the total net worth of the country’s automobile companies in India is expected to shoot up to 300 billion by 2026.

Apart from this, the sales of two-wheelers and three-wheelers have grown to 4.86% and 10.27% respectively.

This massive spike in growth is due to technological advancements where earlier the Indian companies were outsourcing to foreign companies, but now it has changed drastically.

Today, automobile companies in India are installing many updated features while also upgrading engines to low carbon emissions as per the BS-VI (BS6) norms.

Moreover, Indian automobile Manufactures are heavily focusing on high-security standards and achieving more than 4-point ratings in Global NCAP vehicle security.

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Best Automobile Companies in India

The automobile companies mentioned in this list are as per the range of vehicles across multiple segments, revenue, years of experience, and quality standards with comfort and power.

So without further ado, let’s take a closer look at the top automobile companies in India.

1. Maruti Suzuki Ltd.

Formerly known as Maruti Udyog Limited, Maruti Suzuki is a leading automobile company in the country. It was founded by the government of India and later merged with the Japanese company, Suzuki in 1982. Maruti 1,000 was the first contemporary sedan in India.

With time, many cars were designed by the company as it witnessed good consumer satisfaction records simultaneously. Some of the famous and most purchased cars including Zen, Swift, and Baleno make it one of the top automobile companies in India.

The company ventured into the production of diesel cars and performed exceptionally well. The company has two manufacturing facilities with each having a capacity to produce 1,200,000 vehicles every year.

2. Hyundai India

Hyundai India is arguably the best automobile company in India on this list. No matter, what car segment you look into, you’ll always find Hyundai on your top list. Whether you find SUVs, sedans, Hatchbacks, and Electric, you’ll find value-for-money models combined with technology, engineering, design, and comfort. The total sales of Hyundai Motor India for FY 22-23 is 7,20,565 Units.

In the SUV segment, you’ll find, Hyundai Venue, Creta, Alcazar, and Tucson, in the Sedan segment you have options such as Aura, Verna, and Elantra. Moreover, if you are looking for a car fun to drive in city traffic there are various hatchback options such as Santro – new-gen, Grand i10 Nios, and i20 N Line. But what for electric car lovers, don’t worry, there is KONKA Electric from Hyundai.

3. TATA Motors Ltd.

Tata Motors Group is a billion-dollar group with its primary base in India. It is one of the largest and top automobile companies in India with many segments including SUVs (sports utility vehicles), an extensive range of hatchbacks and luxury cars, pick-up and goods trucks, and defense manufacturing vehicles.

The company has sold around 10L vehicles till now. Tata Motors is another unit of the renowned TATA Group. The company believes in integrity and passion to accomplish its goals. It has expanded around in countries like Africa, Southeast, and Latin America as well.

The design is made with state-of-the-art technology to give a sleek, stylish, and futuristic look to their car models. Apart from passenger vehicles, the company also manufactures defensive vehicles. Some of the most known subsidiaries are Daewoo, Hispano, and Jaguar Landrover.

4. Honda Motor Company

Honda is a brand that requires no introduction. The company has earned its brand name and goodwill in the Indian market through its merger with Hero and delivering various two-wheelers under the name Hero Honda. It is one of the best automobile companies in India known for both the two-wheelers segment as well as four-wheelers started its operations in Japan and moved across every continent on the planet.

The most sold product in the two-wheeler segment is Honda Activa is known for its power, flexibility, and robust build structure and #1 choice among Indian households. Whereas from the four-wheeler segment, the most known vehicle is Honda City which is known as a premium sedan with amazing engine refinement and luxury.

Though over time, Honda is giving tough competition to other automobile companies such as Maruti Suzuki, Hyundai, and Indian brands such as Tata and Mahindra. The Honda car models in India are Honda Amaze, Honda City – 5th Gen, WR-V, CR-V, and Jazz whereas for Motorcycle and Scooters, there are models such as CD200, Hornet, xBlade, Unicorn, Activa 125, Grazia, and Dio.

5. Mahindra Group Ltd.

Mahindra Group has spread around in over 100 countries with its presence in aerospace, agribusiness, automotive, and component manufacturing. The automobile sector is the largest of all and has innovative and state-of-the-art technology in its process.

The automotive segment includes Mahindra trucks and buses, Mahindra Electric, Mahindra two-wheelers, GenZe, Jawa Moto, Pininfarina, and SsangYong motors. The component manufacturing segment has the engine engineering unit and the unit of casting.

The group is arguably one of the top automobile companies in India which is also involved in community works to promote an eco-friendly and consumer-friendly workplace. The safety measures taken by them to support their employees and workers are appreciated across the world.

6. Toyota Kirloskar India Pvt. Ltd.

Toyota was established in 1937 by Sakichi Toyoda’s son Mr. Kiichiro Toyoda. One of the greatest legacies left by Kiichiro Toyoda, apart from TMC itself, is the Toyota Production System. It’s a no-brainer that the company got its name from the founder’s last name with a modern-day tweak. Toyota is arguably one of the best automobile companies in India and globally.

The tradition at Toyota has always been to provide premium quality cars backed with reliable services to their customers. Toyota always aims to make sure that the quality meets international standards while keeping in mind the local audience. Moreover, the company believes in putting customers first which has constantly enabled them to respond effectively to the demands and needs, whether in terms of quality, service, or the driving experience.

Toyota’s renowned reputation for Quality Durability and Reliability (QDR) has led to its steady growth in the Indian automotive market with over 1 million Indians part of the ever-growing Toyota family. The company also focuses on developing a more sustainable future and being a pioneer in Hybrid Technology.

What makes Toyota one of the best automobile companies in India is that through initiatives focused on education, community development, and the environment, the company aims to create an organization that works in harmony with nature and society.

7. Ashok Leyland Ltd.

Ashok Leyland is an Indian multinational automobile company. It is the second-largest manufacturer of commercial vehicles in India and the third-largest manufacturer of buses. Its manufacturing facilities are spread around the country in many cities and towns.

It has been ranked as the 34th-best brand in India. It has a product range from 1 T GVW to 55T GTW. Their most important products are trucks, buses, defensive vehicles, and cars.

The total number of employees is about 11,463. With branches in more than 50 countries, they have well-equipped facilities to ensure cutting-edge quality products, it is one of the most reliable automobile companies in India.

8. General Motors India

General Motors is one of the best automobile companies in India and worldwide which is headquartered in Detroit, Michigan. This automobile company believes in building today for a safe and more sustainable tomorrow. This company is home to many other renowned automobile companies such as Cadillac, GMC, Chevrolet, and more.

With a diverse team of over 1.5 lakh employees, they aim to bring their passion for technology combined with design and engineering to deliver an ambitious future to the automobile industry. The company is spread across six continents and operates in over 22 time zones with the workforce speaking 75 languages.

The Indian General Motors technical center is established in Bangalore, where the teams focus on manufacturing and engineering. General Motors specialize in designing, developing, and operationalizing complex integrated production systems and are dedicated to delivering cost-effective solutions while maintaining the highest standards of quality.

9. EICHER Motors Ltd.

Eicher Motors Limited is a flagship company of the renowned Eicher group which has a reputation for manufacturing the first motor vehicle to be in continuous production since its establishment year 1901.

Also, the Volvo- Eicher joint venture has made many remarkable projects since the year of establishment. This company scores 4th position in the top list of automobile companies in India.

Their works in the automotive industry have a unique component designing mechanism, unlike others. It also collaborates with Volvo Trucks and produced vehicles under the brand name Volvo Eicher Manufacturers Ltd.

10. Hero Motocorp Ltd.

Hero Motocorp is arguably one of the best automobile companies in India involved in manufacturing motorcycles and scooters. It is also the largest two-wheeler manufacturer in the world.

The production output of the company is 7,587,130 units with total revenue of 29,614 C. The owner’s family has 39.92 % of its shares.

The Raman Munjal Vidya mandir started by Hero moto corp allowed many students to get a quality education. Also, all of their processes include eco-friendly methods and a strong emphasis on the safety of workers.

11. TVS Motor Company

TVS Motor Company is the third-largest and of the top automobile companies in India with a revenue of INR 20000 Crores in 2019. The annual sales and capacity are 3M and 4M units respectively. It is also the second-largest vehicle exporter with units in 60 countries.

The company made a one-year collaboration with Suzuki Motors and designed many cars like Supra, Samurai, and Shaolin under Suzuki’s brand name.

Their famous flagship models include Apache, Victor, and XL 100. The current, most purchased models include NTORQ, Jupiter, Wego, etc.

They have many automobile components including car body and main part, low voltage electronics, interior components, and other miscellaneous Auto Ancillary. Their brakes, power train components, and engine oil systems are of the best quality for a very long time.

12. Bajaj Auto Ltd.

The Bajaj Group is among the top 10 business groups and is an excellent automobile company manufacturing two, three, and four-wheelers for commercial and noncommercial sales.

Bajaj Auto is a flagship company of the renowned Bajaj group manufacturing and distributing two and three-wheelers with state-of-the-art technology.

The annual turnover has gone up from 72 Million INR to 120 Million INR. It has recognition for leading India’s first quadricycle.

The company has earned many recognitions and awards for its two-wheelers making it in 8th position on this list of automobile companies in India.

13. ISUZU Ltd

ISUZU is one of the best automobile companies in India with a commitment to Make in India. ISUZU Motors India Private Limited, a subsidiary of ISUZU Motors Limited, Japan, was established in 2012. Continuing with its 100-year-old tradition of a needs-based approach to product development and excellence, the company conducted an in-depth, nationwide study of Indian customers and their requirements that led to the development of world-class pick-ups and utility vehicles for the Indian market.

ISUZU Brand Showroom, located in the upscale neighborhood of South Mumbai and Surat, the new brand showrooms are laid out to offer a perfect blend of lifestyle and adventure for those who walk in. These brand showrooms depict the ‘celebration of a lifestyle’ that encapsulates travel, adventure, and exploration woven into versatile machines like the V-Cross and mu-X.

Internationally, these vehicles have carved a niche for themselves, thanks to the sheer enthusiasm they offer with their versatility and performance. These showrooms will connect with every age group – from young budding enthusiasts to businessmen who stand out to a family which seeks the best of both worlds.

14. Force Motors

Force Motors is a fully vertically integrated automotive company with innovative designs and the development of a full spectrum of aggregates and vehicles.

Their products include light commercial vehicles, multi-utility vehicles like Trax, Kargo King, and Delivery vans, agricultural vehicles, and sports utility vehicles.

Through the journey, the company has collaborated with many international and domestic brands. The engine components, lightweight coolants, and other automotive parts are also purchased by many companies.

15. Hindustan Motors

Hindustan Motors is a part of the renowned Birla Tech Services. It was the largest car manufacturer in India before the rise of Maruti Udyog.

Ambassador was their first car which was high in the market till 2014. The two segments of production are automobile and automotive components.

The earthmoving equipment division in Thiruvallur is responsible for the manufacturing and distribution of tractors and sports utility vehicles.

Hindustan also formed a collaboration with Isuzu in 1982. The Hindustan tractor unit was bought by Mahindra Motors in 2001.

16. Hraadyesh

Hraadyesh is an automobile company based in India that specializes in designing customized luxury cars. Their masterpiece edition car- Morris Street was launched in the year the company was established.

Their designs are innovative and gained good responses from across the globe.

17. ICML Motors

International Cars and motors limited is a subsidiary of the Sonalika group and it was ranked as the fourth-largest truck manufacturer in India. It started automobile manufacturing three years after its establishment.

They are among the top companies in the automotive industry and are manufacturers of lightweight vehicles and industrial components. The company showed solid growth in profit rate in the formative years.

Final Thoughts on Top Automobile Companies in India

Automobile Industry provides employment opportunities to a lot of people in the official, industrial and technical units apart from contributing to the country’s economy and development.

The automobile companies in India are ranked based on production quality, the number of units, turnover, market cap, equity values, and total assets.