The number of cars available in the Indian market has grown at a very quick pace in the recent past. At present, India has one of the largest automotive markets in the world and it is only going to get bigger. The sheer variety of cars available in the market right now surpasses almost all milestones that were previously set. Furthermore, there seems to be a car to fit everyone’s budget.
According to reports, approximately 11 million cars were manufactured in India in the financial year 2017-2018. Here are a few of the top car manufacturers that have contributed to the boom in car sales.
1. Maruti Suzuki
Maruti Suzuki holds 49.98% of the market share in the Indian car market and has sold over 1.6 lakh units in the financial year 2017-18. The company is a joint venture between Maruti Udyog and Japanese automobile manufacturers Suzuki Motors. The carmakers have been a prominent brand in the Indian car market since the early 1980s and have developed cars that cater to the requirements of almost every customer. Maruti Suzuki is known for launching cars that are affordable and provide their customers with exceptional after sales services. Some of the popular Maruti Suzuki models include the Swift, Celerio, Ertiga, and Alto.
2. Hyundai Motors
Hyundai Motors has come a long way since the launch of the Santro in 1998. The carmakers held 16.30% of the market share in the Indian car market as per the records of the financial year 2017-18. Hyundai has 2 manufacturing plants in the country and each of them has the capacity to manufacture approximately 6 lakh units every year. The carmakers have a service network of nearly 1,000 facilities. In nearly 2 decades, Hyundai has managed to launch a wide range of vehicles right from an entry-level hatchback to high-end SUVs. Some of the popular car models include the Grand i10, Verna, Creta and Eon.
3. Mahindra and Mahindra
Mahindra and Mahindra started off as a steel trading company in the 1940s. Shortly after India gained independence, the company ventured into the production and distribution of MUVs and later moved to tractors and light commercial vehicles. Mahindra Motors is still the largest manufacturer of tractors in the world and is one of the leading car manufacturers in the country. At present, the carmakers have 20 offerings in the passenger segment including an electric offering. As per the reports of the financial year 2017-18, Mahindra and Mahindra held 7.56% of the market share and sold over 2.48 lakh units. Some of the popular offerings by Mahindra include the Scorpio, Bolero, Verito, XUV 500, and the Xylo.
4. Tata Motors
Tata Motors is a subsidiary of the Tata Group that entered the commercial vehicle segment in 1991 with the launch of the Tata Sierra. The launch of the Indica put Tata motors on the map as one of the top contenders in the passenger vehicle segment. The Indica still remains one of India’s best-selling cars in the country’s history. The carmakers have 6 assembly units in the country and 4 overseas. In the financial year 2017-18, Tata Motors sold over 2.1 lakh units and held a market share of 6.39%. Some of Tata’s popular offerings include the Safari, Nano, Zest, and Iris.
Honda Cars India Limited is the Indian subsidiary of Honda Motors that entered the Indian auto industry in 1995. At present, the carmakers have 2 manufacturing plants in the country and have the capacity to produce 60,000 to 1 lakh units a year. As per the reports of the financial year 2017-18, Honda Cars held 5.17% of the market share in the industry and sold over 1.7 lakh units. Some of the carmakers’ most popular offerings include the Amaze, Brio, Civic, City, and Jazz.
6. Toyota Kirloskar
Toyota Kirloskar is the Indian subsidiary of the Japanese auto company Toyota. Toyota first made its way to the Indian car market in 1997 and since then has established quite a loyal customer base due to the exceptional quality of their vehicles. The Innova is Toyota’s most popular offering and has dominated the SUV segment since its launch. According to reports of the financial year 2017-18, Toyota held 4.27% of the market share in the Indian auto industry, selling over 1.4 lakh units. Apart from the Innova, some of Toyota’s popular offerings include the Etios, Fortuner and Altis.
American car manufacturer, Ford entered the Indian car market in 1995. The India division of the company is headquartered in Chennai and the cars produced are known for their high-quality engines, fuel efficiency, and affordable price range. In the financial year 2017-18, Ford held a 2.73% of the Indian car market and sold approximately 90,000 units. Some of the brand’s popular models include the EcoSport, Fiesta, Figo and Endeavour.
The Indian car market today has options for almost every type of consumer. Additionally, a number of the car makers mentioned in the list above offer their customers options for financing as well as insurance covers. Buying a car in India has become a lot easier and the quality levels for the service provided are also exceptional.