Top Automobile Companies in India

The Indian automotive industry holds a significant position in both the national and global job markets. In addition to the evident employment opportunities in car manufacturing, it creates numerous jobs in ancillary production. In India, this industry contributes to 6% of the country’s GDP and employs over 19 million individuals. With several major global players establishing production units in India, domestic market boasts a thriving automobile industry. In this context, we present a compilation of top automobile companies in India.

In a related development, marked a significant year for the Indian auto industry as it surpassed Japan and Germany to become the third-largest automobile market globally in terms of sales volumes. According to a recent study it is also 4th largest country in the world in terms of value. The value of top automobile companies in India is expected to grow as vehicle penetration continues to rise in the country.

India has a strong market in terms of domestic demand and exports. In FY 2025 total production of passenger vehicles, three wheelers, two wheelers and quadricycles was 2,32,14,969 units. India automotive market size was USD 129.28 billion in 2023 and is expected to grow from USD 140.01 billion in 2024 to USD 264.96 billion by 2032, growing at a CAGR of 8.3% during the forecast period (2025-2032).

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Top 10 Automobile Companies in India

This list of top 10 automobile companies in India is based on sales volumes in CY 2024.

#1 Maruti Suzuki India – Biggest Among Top Automobile Companies in India

Maruti Suzuki is the undisputed leader in India’s passenger car segment. Established in 1982 as a joint venture between Government of India and Suzuki Motor Corporation (SMC), the company has been holding over 40% market share in the country. This kind of dominance is rare in the auto industry, making Maruti Suzuki India’s largest car manufacturer.

With plants in Haryana and Gujarat, Maruti Suzuki has an annual capacity of 23.5 lakh units. The company has also formed a global partnership with Toyota, which has boosted its exports and global presence.

Maruti Suzuki Units Sold in CY 2024
Sales – 17,55,423 units (up 3% y/y)
Revenue – INR 1,45,103 crore
Market Cap – INR 3,95,564 crore
ROCE – 21.8%
Employees – 18,228

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#2 Hyundai Motor India

Hyundai entered India in 1996 and has become one of the biggest car companies in India. The South Korean giant started with Santro small car and has since expanded its portfolio to include hatchbacks, SUVs, sedans and electric vehicles all at affordable prices. With a 14.24% market share in India’s passenger vehicle sales in 2024, Hyundai continues to fortify its presence in the Indian automotive landscape.

Hyundai India IPO also made history by raising over INR 27,000 crore and ranking on top of the biggest IPOs in India during September 2024.

Hyundai Motor India Units Sold in CY 2024
Sales – 6,05,433 units (up 1% y/y)
Revenue – INR 52,158 crore
Employees – 10,000

#3 Tata Motors – Indigenous among best Indian car companies

Tata Motors, the Indian Passenger Vehicle industry recorded the highest ever annual wholesale volumes of 4.2 million units in FY 2024. One of the top car companies in India. Initially known as Tata Engineering and Locomotive Company Ltd. (TELCO), the company underwent a massive transformation under the leadership of Ratan Tata. Tata Motors entered the passenger vehicle segment with the launch of Indica hatchback in 1998. Despite initial hiccups the company showed resilience and even acquired brands like Jaguar and Land Rover to further strengthen its presence in the global auto space.

Tata Motors Units Sold in CY 2024
Sales – 5,62,482 units (up 2% y/y)
Revenue – INR 4,43,739 crore
Market cap – INR 3,43,887 crore
ROCE – 20.1%
Employees – 60,113

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#4 Mahindra & Mahindra (M&M)

Mahindra & Mahindra (M&M) is another Indian auto major that has made its mark. As a homegrown company it has diversified its product range over time to include scooters, motorcycles, three wheelers, passenger cars, commercial vehicles and agricultural tractors. M&M has grown big and has put a lot of emphasis on comfort and design after it acquired the Pininfarina design studio.

M&M Units Sold in CY 2024
Sales – 5,28,453 units (up 22% y/y)
Revenue – INR 1,42,404 crore
Market cap – INR 3,75,944 crore
ROCE – 13.6%
Employees – 2,60,000

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#5 Toyota Kirloskar India

Toyota, a Japanese auto major entered India through a joint venture with the Kirloskar Group in 1997. Though it may not be among the top in terms of sales volume compared to bigger competitors, Toyota makes up for it with a wide range of products and robust exports. Toyota Fortuner SUV and Innova MPV are among its best selling models in India. It is one of the top 5 auto companies in India.

Toyota Kirloskar Units Sold in CY 2024
Sales – 3,00,159 units (up 36% y/y)
Revenue – INR 55,866 crore
Net Profit – INR 1,404 crore
Employees – 11,500

#6 Kia Motors

Kia India is the only South Korean auto major on this list of top auto companies in India. Established in 2017, Kia Motors started its manufacturing and sales operations in 2019. Though it is relatively new to the Indian market, Kia has managed to get a decent market share compared to its competitors, 6.62% of all passenger cars sold in India in August 2024.

Kia India Units Sold in CY 2024
Sales – 2,45,000 units (down 4% y/y)
Revenue – INR 800+ crore
Employees – 1,000+

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#7 Honda Cars India

Honda was one of the first Japanese to enter the Indian market in 1995. The company has two plants in Greater Noida, Uttar Pradesh and Tapukara, Rajasthan. Honda made a big impact with the launch of City sedan in 1998 which has been a top seller in its segment ever since.

Honda India Units Sold in CY 2024
Sales – 68,658 units (down 19% y/y)
Revenue – INR 14,439 crore
Employees – 5,772

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#8 MG Motor India

MG Motor the only Chinese to feature in this list started operations in India in 2019. While some Chinese models introduced under GM’s Chevrolet brand had trouble, MG Motor has done well. It still has a long way to go to compete with the top 5 but MG Motor has shown its potential in the Indian market.

MG Motor Units Sold in CY 2024
Sales – 61,214 units (up 8% y/y)
Revenue – INR 500+ crore
Employees – 3,000+

#9 Renault Motors

Renault is the only French company in this list of top automobile companies in India. Renault entered India in 2005 with a joint venture with M&M. The first product in the domestic market was Renault Logan which was a rebadged version of Renault’s Dacia division car. But it didn’t do well in sales partly due to its dated design. So the joint venture had a slow start. But Renault managed to get a foothold in India with subsequent products, especially Duster and Kwid which did well in the market.

Renault Units Sold in CY 2024
Sales – 41,729 units (down 14% y/y)
Revenue – INR 8,000+ crore
Employees – 10,000+

#10 Skoda Motors

Skoda, a Volkswagen subsidiary, is now a big player in India. Known for its modern and sleek designs, Skoda connects with Indian customers through style, looks and affordability. Although it’s an entry level brand in the Volkswagen portfolio, Skoda has got a semi premium image in India, for making high quality, reliable and safe cars.

Skoda Units Sold in CY 2024
Sales – 35,164 units (down 28% y/y)
Revenue – INR 20,000+ crore
Employees – 1,069

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Conclusion

This compilation of the biggest automobile companies in India is derived from their annual sales volumes in CY 2024. Since the market is dynamic, these rankings are subject to change as new data comes in. One interesting thing about the Indian auto landscape is that three big car companies in India together account for almost 70% of passenger vehicle sales, which is a unique phenomenon compared to other big car markets. Will this continue? Stay tuned for further updates in this domain.

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Biggest Automobile Companies in India – FAQs