Top 5 Car Manufacturing Companies in India
- Author :
- TATA AIG Team
- Published on :
With an increase in income levels and an enhancement in lifestyles, four-wheelers are fast becoming the preferred mode of transportation for Indians. Gone are the days when owning a four-wheeler seemed like a far-fetched dream in an average Indian household. Nowadays, almost every Indian family in the middle-income group and the high-income group owns at least one, if not more, car.
The ownership of a car comes with certain responsibilities, one of which is purchasing a suitable car insurance policy. You can buy online car insurance in a quick and hassle-free manner and ensure financial protection against untoward incidents on the road. With online purchase and renewal of car insurance policies, it is easy to select and purchase suitable insurance for your car.
Here are the top car manufacturing companies in India
The automobile sector in India has witnessed substantial development in the past few decades. From the times when the sector was largely dominated by foreign car manufacturers and their patented technologies to the present era wherein Indian car manufacturers have a major share of the market, there has been a drastic evolution in the sector.
There are several excellent car manufacturing companies operating in the country, some of which have been discussed below.
Maruti Suzuki is the largest automotive manufacturing company in India. As of September 2021, the automobile giant has a 49 per share in the passenger car segment of the Indian automobile market. With a proud history of thirty years, the company offers a wide array of vehicles in different segments, including commercial vehicles and passenger vehicles.
Some of the popular Maruti Suzuki products in the passenger car segment are:
- Maruti Suzuki Wagon R
- Maruti Suzuki Alto
- Maruti Suzuki Swift
- Maruti Suzuki Baleno
In the financial year 2019-20, the company recorded a revenue of ₹78,994 crores and a net income of ₹5,559 crores. With a brand name recognised in almost every Indian household and a focus on product development and customer satisfaction, Maruti Suzuki is one of the leading automobile manufacturers in India.
The name Tata has always been synonymous with trust and faith and Tata Motors is a company that is committed to honouring those values. Whether it is the development and launch of India's first car that cost ₹1 lakh or the diversification of their automobile portfolio, Tata Motors has always put the expectations of customers at the centre of their product strategy.
Tata Motors has an extensive range of passenger cars, ranging from hatchbacks to SUVs. Some of the popular passenger cars of the company include the Tata Safari, Tata Tiago, and Tata Altroz. In the commercial vehicles segment, the company offers popular products such as the Tata Ace and the Tata Starbus. In the financial year 2020-21, the company registered a total revenue to the tune of ₹3,19,247 crores. By virtue of its revenue, Tata Motors is often considered the richest car manufacturing company in India.
Mahindra and Mahindra
Think tractors and Mahindra and Mahindra is one of the first names that comes to mind. Established in the year 1945, the company manufactures lightweight commercial vehicles, SUVs, bikes, and tractors. With a global presence, particularly in the tractors segment, Mahindra and Mahindra is a household name in India. The company manufactures, amongst other products, the Mahindra Bolero, Mahindra Thar, and Mahindra Scorpio. In the financial year 2020-21, the company had a total revenue amounting to ₹74,277.78 crores and a net income of ₹3,347.41 crores. Mahindra and Mahindra is one of the leading automotive manufacturing companies in India in the SUV segment.
Hyundai Motors India
Hyundai Motors is considered to be the first company that challenged the long-standing monopoly of Maruti Suzuki in the passenger car segment in India. With access to advanced technologies and a distinct product focus, Hyundai has become one of the most popular automobile brands in India in the past two decades. According to the data pertaining to February 2019, the company is the second-largest manufacturer of automobiles in India. The launch of the iconic Hyundai Santro in September 1998 drastically shifted the landscape of the Indian automobile sector. With the massive success of the Santro, the company quickly became the biggest car exporter in India. Some of the popular cars manufactured by Hyundai Motors India include:
- Hyundai i10
- Hyundai Verna
- Hyundai Eon
Established in the year 1995 as a joint venture named Honda Siel Cars India, Honda Cars is a subsidiary of the Japanese automobile giant, Honda Motors Company Limited. With the launch of the iconic Honda City in 1998, the company made its presence felt in India and soon gained popularity.
Some of the other flagship cars of the company are the Honda Jazz and the Honda Amaze. The company has been developing new products that follow its traditions of advanced design, technology, durability, and fuel efficiency. In the financial year 2018-19, the company had a total revenue of ₹16,593.87 crores.
To sum it up
The Indian automobile sector has no dearth of car manufacturers that are committed to excellence in design, fuel efficiency, and comfort so as to provide world-class products to their customers. You must choose a car manufacturing company and model after a thorough analysis of your expectations and design specifications in a car and your budget for the purchase.
Once you purchase a car, waste no minute in buying an adequate car insurance policy for it. Remember that it is legally mandatory in India to have at least third party car insurance for your vehicle. It is advisable to opt for a comprehensive car insurance policy for your car so as to financially safeguard yourself against any unanticipated events on the road.
You can peruse our wide range of car insurance policies on our website, get a Tata AIG car insurance quote online, and proceed with the purchase of the selected policy.
- For Tata AIG car insurance for Maruti Suzuki cars, click here.
- To purchase a Tata AIG car insurance policy for Hyundai cars, click here.
Choose well and drive safely!