Top 10 Car Manufacturers in India in 2024

In September 2023, car sales in India witnessed an upturn, with nearly 3.62 lakh passenger cars sold. This represents a 0.7% increase compared to August 2023 and a more than 2% rise from the same month in the previous year.  

This denotes that the demand for four-wheelers among Indian residents is increasing steadily.  

However, the Indian automobile market is flooded with leading car manufacturers, making it difficult for buyers to select the best brand. This article summarises the top car manufacturers in India to assist readers in making an informed choice.

Here is the list of the top 10 car manufacturing companies in India.

1. Maruti Suzuki | Market Share: 41.6%

Collaborating with Suzuki Motor Corporation, a Japanese automobile manufacturer, Maruti Suzuki, a household name, holds a market share of 41.6% as of September 2023 and is the leading car manufacturer in India.

• Car units sold from Jan to Sep 2023: 15,65,012 units*
• Popular cars: Swift, Alto, Baleno, Ertiga, Wagon R, and Celerio 
• Manufacturing plants: Maruti Suzuki has 3 manufacturing plants in India
  
• It is known for manufacturing cars with optimum features at affordable prices. Besides, the brand also offers excellent after-sales services.

2. Hyundai Motor Company | Market Share: 14.9%

Headquartered in Seoul, Hyundai Motor Company or Hyundai, is India's 2nd largest car manufacturer. The brand witnessed its highest growth since the commencement of operations in India in FY 2022-23 by selling 5,67,546 car units against 4,81,500 in FY 2021-22.

• Car units sold from Jan to Sep 2023: 5,74,807 units*
• Popular cars: Santro, Xcent, Verna, Creta, Elantra, Eon, i10 Grand, i10 and Tucson.
  
• Manufacturing plants: Currently, it owns 2 manufacturing plants in Chennai, equipped with best-in-class production technology and testing capabilities.
• It manufactures both premium and affordable car models bearing top-notch features.
  
• It holds a market share of 14.9% as of September 2023.

3. Tata Motors | Market Share: 12.3%

Tata Motors, a subsidiary of Tata Group, came into the commercial vehicle market in 1991 with Tata Sierra. The launch of Indica made this brand one of the top contenders in this segment. Every car model has excellent built quality. 

• Car unit sold from Jan to Sep 2023: 7,21,091 units*
  
• Popular cars: Hexa, Tiago, Indica, Safari, Storme, Nano, and Bolt. 
  
• Manufacturing sites: The brand owns 15 manufacturing sites and 3 R&D sites in India.
  
• As of September 2023, it has a market share of 12.3%. 

4. Mahindra & Mahindra | Market Share: 11.4%

A multinational automobile manufacturer based in Mumbai, Mahindra & Mahindra is one of the best car manufacturers in India. In September 2023, it sold around 41,267 units and reported an increment in market growth by 20.5% compared to the units sold in the same month last year.

• Car unit sold from Jan to Sep 2023: 5,87,443 units*
• Popular cars: Scorpio, Bolero, Thar, XUV500 and Xylo.
  
• Manufacturing plants: The company has established 11 state-of-the-art manufacturing plants across India, headquartered in Mumbai.
• The company holds a market share of 11.4% as of September 2023.
  
• It is the largest SUV manufacturer in the country.

5. Toyota Motor Corporation | Market Share: 6.1%

A Japanese multinational automobile company, Toyota is the largest vehicle manufacturer worldwide. Its sales figure in September 2023 was 22,168 units.  

• Car unit sold from Jan to Sep 2023: 1,70,782 units*
  
• Popular cars: Innova Crysta, Urban Cruiser, Glanza, Camry, Fortuner, Hilux, and Vellfire.
  
• Manufacturing plants: Toyota Kirloskar Motor has 2 manufacturing units in Bidadi, near Bengaluru, Karnataka.
  
• This brand retails cars with top-notch safety features and strong built quality.
  
• It constitutes a market share of 6.1% as of September 2023. 

6. Kia Corporation | Market Share: 5.5%

Kia is a multinational automobile company based in Seoul. It ranks among India's top 10 automobile manufacturers in terms of its sales, as it witnessed a 44% growth in FY 2022-23 in India. Further, it holds a market share of 5.5% as of September 2023.  

One of the primary reasons for its growth in the Indian market is its feature-packed cars at an affordable price range. Additionally, cars from this brand are known for bearing top-notch safety features.  

• Car unit sold from Jan to Sep 2023: 1,95,351 units*
  
• Popular cars: Carnival, Seltos, Carens and Sonnet.
  
• Manufacturing plants: Kia India’s manufacturing plant is situated in Anantapur District, Andhra Pradesh
  
• As of September 2023, it reported sales of approximately 20,022 units.
  
• The Insurance Institute for Highway Safety identified 8 car models from Kia on its TOP SAFETY PICK+ (TSP+) and 2022 TOP SAFETY PICK (TSP), including Carnival and Seltos in this award list. 

7. Honda Cars | Market Share: 2.7%

Honda Motors stepped into the Indian market in 1995. As of September 2023, it occupies a 2.7% market share in India. At the same time, it registered sales of 9,861 units.

• Car unit sold from Jan to Sep 2023: 73,526 units*
  
• Popular cars: Honda City, Amaze, Brio, Accord, Civic and Jazz. 
• Manufacturing plants: Currently, it owns two manufacturing plants in India, having a capacity to manufacture 60,000 to 1,00,000 units in a year.
  
• This car manufacturer produces durable and fuel-efficient cars equipped with the latest technology and attractive design.

8. MG Motor | Market Share: 1.4%

Morris Garages is a British automobile manufacturer and one of the youngest car companies in the Indian market. It launched its automotive product in 2019, and since then, it has been known for manufacturing innovative vehicles. It also sells electric SUVs. In FY 2023, it registered an increase in sales by 21%.  

• Car unit sold from Jan to Sep 2023: 43,200 units*
  
• Popular cars: Hector, Hector Plus, Astor, Gloster, and ZEV. 
  
• Manufacturing plants: It operates one manufacturing plant in the country, located in Halol, Gujarat.
  
• As of September 2023, it owns a market share of 1.4%. 

9. Skoda Auto | Market Share: 1.1%

Based in the Czech Republic, Skoda is one of the leading car manufacturers in India. As of September 2023, it occupies a market share of 1.1%. In a similar month of this current fiscal year, Skoda Auto India Pvt. Ltd. witnessed a sale of 4,032 units, mainly derived from its top SUV model, Kushaq. 

• Car unit sold from Jan to Sep 2023: 35,736 units*
  
• Popular cars: Kushaq, Slavia, Rapid, Octavia, and Superb. 
  
• Manufacturing plants: Currently, it has two manufacturing plants.
  
• This company is famous for manufacturing premium cars with luxurious interiors and optimum driving performance.  

10. Volkswagen | Market Share: 1%

Volkswagen is one of the best car manufacturers in India and is a multinational automobile company headquartered in Pune, Maharashtra. As of September 2023, it holds a 1% market share in India, with sales of 3,568 units during that month. 

• Car unit sold from Jan to Sep 2023: 33,190 units*
  
• Popular cars: T-roc, Taigun, Virtus and Polo.  
  
• Manufacturing plants: Currently, it owns two manufacturing plants in the country, Pune and Aurangabad.
  
• The company produces affordable cars in extensive variants such as SUVs, hatchbacks and MPVs.  

Keep this list of the top 10 car manufacturers in India in mind before heading to the market and investing in a car. 

When buying a car in India, securing car insurance is also crucial as it is mandatory by the Motor Vehicles Act of 1988. It provides financial protection against accidents, theft, and damages, safeguarding your investment. Car insurance saves you from hefty traffic fines, license suspension, and even legal trouble.   

Disclaimer: This information is added only for informative purposes, and Digit Insurance is not promoting or recommending any specific vehicle or brand in any way.

*The information provided in this article regarding the top 10 car manufacturers in India has been sourced from official car company websites and reputable aggregators.  

While we have made every effort to ensure the accuracy and reliability of the data, we advise readers to verify the details with the respective car manufacturers.