Top 10 Automobile Companies in India

The automobile industry manufactured a total of 30,915,420 vehicles including commercial, passenger, two-wheelers and three-wheelers in FY 2019. It is a large industry providing employment to millions of people in the country. It goes without saying that the Indian auto industry is one of the largest in the world.

There are many avenues for entrepreneurs to create a great business in this industry even though it is very competitive one. In the present article, I will be discussing top 10 best automobile companies in India based on their annual sales.

Before we start discussing the companies, I will give you brief two-line introduction about me. I have been working as a consultant in the automobile industry for 20 years advising businesses to invest in auto ancillaries. Many entrepreneurs I helped have set up auto ancillary companies which are running successfully.

At the start of my career, I joined an oxygen plant manufacturer company as a mechanical engineer. Here I learned the basics of instrumentation of designing and fabricating machinery like air separation columns. I also mastered automating industrial gas plant with PLC systems which helped to pick up auto industry fundamentals quickly on joining the sector. Top ten auto companies are discussed below:

Tata Motors Ltd

It is the No.1 auto company in India manufacturing and supplying automobiles to over 100 countries.  The company offers wide range of vehicles including passenger, commercial, trucks and buses.

Revenue: Rs 296,917 Cr

Employees: 82,797

Promoter holding: 38.37 %

 Tata Motors has got a network of over 100 subsidiary companies including the Jaguar Land Rover in the UK and the Tata Daewoo in South Korea. The company is a market leader in commercial vehicle segment with market share of 45.1% and 6.3% in passenger vehicles.

Market share

Passenger Vehicles: 6.3%

Commercial Vehicle: 45.1%

Maruti Suzuki India Ltd

Maruti is a leading company in passenger vehicle segment with market share of 53%. The company started its operations in 1981. Suzuki Motor Corporation (SMC) and the Government of India signed a joint venture agreement in 1982 for production of passenger cars. Maruti Suzuki company announced on Sunday (8th may2021) that that the company will boost manufacturing of oxygen gas plant and nitrogen plant.

Revenue: Rs 83,281 Cr

Employees: 33,180

Promoter holding: 56.21 %

 In 2002, Maruti Suzuki became a subsidiary of SMC which holds 56.21% of equity stake. The company has got world-class manufacturing facilities at Gurugram and Manesar.

Mahindra & Mahindra Ltd

It is one of the leading auto companies in India manufacturing vehicles and farm equipment. The company manufactures passenger cars and tractors. Ever since its establishment in 1947, the company has been growing consistently.

Revenue: Rs 77,077 Cr

Market Cap: Rs 70,725 Cr.

Employees: 42,875

Promoter holding: 18.90 %

Mahindra & Mahindra has got a portfolio of commercial vehicles, passenger cars, electric vehicles, tractors and two wheelers. It has now emerged as the third largest auto company in the country.

Market share 

CV: 25.3%

Passenger Vehicles: 7.4%

Tractor: 40.2%.

UV: 25%

LCV: 44.5%

Hero MotoCorp Ltd

It has been the largest manufacturer of two-wheelers since 2001 and still maintains its leading position. The two-wheeler company has got millions of customers world-wide. It is the only Indian company with a manufacturing facility in Latin America opened in 2016 in Colombia.

Revenue: Rs 32,871 Cr

Employees: 8,551

Promoter holding: 34.63 %

Market share: 36.0%

Under the leadership of Dr. Pawan Munjal, Chairman, Hero MotoCorp, the company has emerged as the 4th largest auto company in India. It has manufacturing capacity of around 9 million units of two wheelers.

Bajaj Auto Ltd

Bajaj Auto is one of the foremost companies in India. The company is present in over 80 countries worldwide. It is the 3rd largest manufacturer motorcycles in the world and holds 1st position in the production of three wheelers.

Revenue: Rs 30,598 Cr

Employees: 8,064

Promoter holding: 53.52 %

Market share: 18.7%

Bajaj Auto is an internationally renowned brand especially in South America, Africa, Middle East, and Southeast Asia. The company has wholly owned Bajaj Auto International Holdings BV subsidiary. It holds around 48% stake in KTM AG of Austria (KTM), which has emerged as the fastest growing motorcycle brand in the world.

Ashok Leyland Ltd

It is the 2nd largest maker of commercial vehicles in India. Moreover, Ashok Leyland is also the 4th largest manufacturer of buses in the world. The company  has got 9 manufacturing plants out of which 7 are in India and one is based Ras Al Khaimah (UAE).

Revenue: Rs 28,476 Cr

Employees: 11,966

Promoter holding: 51.13 %

Ashok Leyland has corporate office in Chennai has wide range of products including 2.5T GVW (Gross Vehicle Weight) to 49T GTW (Gross Trailer Weight) in trucks. It ranks 10th globally in the production of trucks.

TVS Motor Company Ltd

TVS Motor is a flagship company of TVS Group. It is one of the leading auto companies in India generating revenue of 15129 Cr INR (2017-18). The company has an annual manufacturing capacity of 4 million two-wheelers.

Revenue: Rs 15129 Cr

Employees: 5121

Promoter holding: 57.40 %

The company has got four manufacturing facilities. Three of them are located in India (Hosur in Tamil Nadu, Mysore in Karnataka, and Nalagarh in Himachal Pradesh) and one is based in Karawang, Indonesia.

Eicher Motors Ltd

Eicher Motors is a well-known auto company with an iconic brand, Royal Enfield which is a global leader in its category.  It is one of the few motorcycles in uninterrupted production since 1901. The company has got manufacturing facility in Tamil Nadu and a developmental facility in Leicestershire, UK.

Read custom ice cream sleeves blog

The company has also entered into a joint venture with the Swedish company AB Volvo. The joint venture is called Volvo Eicher Commercial Vehicles Limited (VECV) which focuses on the modernization of commercial vehicles. VECV manufactures and supplies trucks and buses from its integrated manufacturing plant in Pithampur, Madhya Pradesh.

Force Motors Ltd

Force Motors is a reputed auto company established in 1958 under the leadership of Shri N K Firodia.  The company has been working with a vision to manufacture and supply affordable vehicles for the masses using cutting-edge technology. The focus has been to make reliable, efficient, and economical vehicles.

Turnover: Rs 3,487 Cr

ROE: 7.67 %

Sales Growth (3Yrs): 6.48 %

The company has got a portfolio of light commercial vehicles (LCV), multi-utility vehicles (MUV), and special utility vehicles (SUV). Force Motors has been able to create a niche for its products in the competitive industry.


SML Isuzu Ltd. (SMLI) has been in the business of manufacturing and supplying commercial vehicles for over 35 years. The company specialized in manufacturing light and medium commercial vehicles for meeting the requirements of the Indian market.

Turnover: Rs 1,312 Cr

Dividend Yield: 0.78 %

ROE: 4.79 %

Sales Growth (3Yrs): 6.51 %

Sumitomo Corporation, Japan holds 44% stake in SMLI with Isuzu Motors, Japan holding another 15% stake in the automobile company. It is the first company to manufacture, customize and supply tastefully done buses and ambulances.