Top Truck Manufacturers in India
The truck industry in India has witnessed steady growth over the last few years owing to the up-gradation of technology and production processes. Additionally, the best truck company in India manufactures different types of heavy-duty trucks.
As there is a rising demand for trucks among consumers due to the expansion and growth of the economy, it is vital to know about the top 10 truck manufacturers in India.
Therefore, refer to this article to know more about the leading truck manufacturers in India.
List of 10 Best Truck Companies in India
Other than producing vehicles used for commercial, agricultural and transportation purposes, the best truck companies in India also produce electric vehicles to meet consumer demands.
However, the companies' presence in the commercial market, their annual turnover, distribution network etc., are some of the factors a buyer looks for before choosing a truck company.
Considering these essential pointers, we present you with a list of the top 10 truck companies in India sorted as per market capitalisation.
1. Tata Motors Limited (Market Capitalisation: ₹109,000 crore)
Founded in 1945, this Indian multinational automotive manufacturing company has its headquarters in Mumbai. It is a subsidiary of Tata Group, manufacturing trucks, trucks vans, passenger cars, sports cars and more.
Apart from India, it has its presence in countries like the United Kingdom, Thailand, South Africa, South Korea and Spain. It entered the commercial vehicle sector in 1954 after shaking hands with Daimler-Benz of Germany.
Let's know more about this largest truck manufacturer in India from the following section.
- Turnover: ₹47,031.47 crores as of March 2021.
- Product USP: Fourth largest manufacturer of trucks, manufactures powerful products range like Tata Sigma, Tipper Truck, etc., comes with an advanced emission control system.
- Average Price Range: Starting from ₹4 Lakh up to ₹50 Lakh.
2. Mahindra & Mahindra Limited (Market Capitalisation: ₹98,000 crore)
One of the top 10 truck manufacturers in India is the subsidiary of the Mahindra Group, Mahindra and Mahindra Limited. Like its competitor, Tata Motors, Mahindra truck company's establishment dates back to 1945.
Headquartered in Mumbai, Maharashtra, this truck company manufactures trucks and other transportation motors. Further, Mahindra's light commercial vehicles entered the market in 1948 and have its distribution network across countries like Italy, South Korea, the US, Australia and more.
Here are some additional details on the best truck manufacturer in India.
- Turnover: ₹45,040.98 crores as of March 2021.
- Product USP: 57 manufacturing facilities around the world launched a new series of smart trucks named BLAZO.
- Average Price Range: Starts from ₹1.2 lakh up to ₹48.8 lakh.
3. Eicher Motors Limited (Market Capitalisation: ₹78,000 crore)
Established in 1948, Eicher Motor is one of the top 10 biggest trucking companies and the parent company of Royal Enfield. It has its headquarter in New Delhi.
Further, the company launched its first heavy-duty truck in 2002 and has an international presence across South-Asia, Africa and the Middle East.
Some other pointers to consider before buying trucks from this company are mentioned below:
- Turnover: ₹8,619.04 crores as of March '21.
- Product USP: Fuel efficient, higher payload, faster turnaround, the new series of Eicher trucks come with high loading capacity.
- Average Price Range: Starts from ₹9 lakh up to ₹65 lakh.
4. Ashok Leyland Limited (Market Capitalisation: ₹37,000 crore)
Ranks 2nd in the list of top 10 truck manufacturers in India, Ashok Leyland Limited manufactures trucks along with heavy and medium commercial vehicles. The company was established in 1948 and had its headquarter in Chennai.
Further, it is owned by the Hinduja Group and has a footprint across 50 countries. Also, it has been present in the market since its launching year.
Given below are some additional details on this truck manufacturing company:
- Turnover: ₹15,301.45 crores as per March 2021's data.
- Product USP: Manufactures 7.5 to 49 tonnes of capacity trucks, Tusker Twin Axle Lorry, and Ashok Leyland Lorry.
- Average Price Range: Price starts from ₹5.3 lakh and reaches up to ₹33.7 lakh.
5. Force Motors Limited (Market Capitalisation: ₹1,900 crore)
Founded in 1958, this is one of the top truck companies in India manufacturing light commercial vehicles, minidor, matador and more. Headquartered in Pune, this company is managed by the Firodia Group.
Furthermore, the company introduced small trucks in 1951, and it has an international footprint across nations like Asia, Africa, Latin America, and the Middle East.
- Turnover: ₹1987.82 crores as of March 2021.
- Product USP: High-quality products at competitive prices, high performance and premium quality engines and axles, hosts a team of experienced design engineers.
- Average Price Range: ₹8 lakh to ₹13 lakh.
6. SML ISUZU Limited (Market Capitalisation: ₹559 crore)
Incorporated in 1983, SML ISUZU Limited or SMLI is a commercial vehicle manufacturer with headquarters in Chandigarh.
In addition, Sumitomo Corporation and Isuzu motors hold 44% and 15% stake in this company. It also has a wide range of distribution networks across countries like Nepal, Zambia, Tanzania, Ivory Coast and more.
Some other vital pointers to consider about this company are -
- Turnover: ₹591.48 crores as of March 2021.
- Product USP: Manufactures trucks, buses, and other lightweight vehicles produce medium-duty trucks powered by the Isuzu engines.
- Average Price Range: Starts from ₹12 lakh up to ₹18 lakh.
7. Hindustan Motors (Market Capitalisation: ₹154 crore)
Established in 1942, Hindustan Motor has its headquarters in Kolkata, West Bengal.
It is a Birla Technical Services Industrial Group subsidiary and exports trucks to Egypt, Bangladesh, Mauritius, Sri Lanka, and New Zealand.
Additionally, here are some details you might consider before purchasing trucks from this company.
- Turnover: ₹1.1 crores as of March 2021.
- Product USP: Manufactures lightweight commercial vehicles; by collaborating with Isuzu, they built JCS trucks.
- Average Price Range: NA.
8. Daimler India Commercial Vehicles' BharatBenz (Market Capitalisation: ₹79 Crore)
One of the top 10 truck manufacturers in India, Bharat Benz is a Daimler India Commercial Vehicles brand established in 2011. Its headquarter is in Chennai.
On 2nd March 2012, it unveiled its series of trucks lined up in the range of 9 to 49 tonnes.
Here are some additional details of this truck company.
- Turnover: ₹5,740 crores as of FY2020.
- Product USP: Manufactures trucks, heavy-duty tractors as well as buses, sold and serviced across a Pan-Indian network of more than 250 touchpoints.
- Average Price Range: ₹17Lakh to ₹45Lakh.
9. Volvo Trucks (Market Capitalisation: ₹44 Crore)
This truck company was founded in 1928 and owned by A.B. Volvo. With headquarters in Gothenburg, Sweden, this company manufactures heavy-duty trucks.
Further, it has production facilities around the globe, including the USA, Africa, China etc.
To know more about this company, refer to the following section:
- Turnover: NA
- Product USP: Flexible and comfortable workplace for drivers, durable and high performance.
- Average Price Range: ₹70 lakh to ₹90 lakh.
10. Asia Motorworks (Market Capitalisation: ₹1 Crore)
This Indian automotive company was established in 2002 and had its headquarters in Mumbai. The vehicles manufactured are exported to Nepal, Myanmar, Bhutan and Bangladesh.
Given below are some additional details of this company:
- Turnover: NA
- Product USP: Covers a range of heavy-duty applications such as mining, power, construction, roads and highways etc., won Commercial Vehicle of the year award by NDTV Profit Car and Bike Awards 2008.
- Average Price Range: Starts from ₹37 lakh.
Therefore, by following the above list of top 10 truck companies in India, you can streamline your options while choosing an appropriate truck.
Top Truck Manufacturers in India
Tata Motors Limited
Mahindra & Mahindra Limited
Eicher Motors Limited
Ashok Leyland Limited
Force Motors Limited
SML ISUZU Limited
Daimler India Commercial Vehicles' BharatBenz