INTRODUCTION
India is one of the largest automotive markets in the world. In 2023, India has become a major player in the global automotive industry, with over 30 major automakers operating locally.
Major car companies like Maruti Suzuki, Hyundai, Mahindra & Mahindra, Tata Motors, Honda, Volkswagen, etc., are leading the market share and dominating the automotive sector in India. Additionally, there are several more upcoming domestic car companies that are expected to enter the market in the near future.
Apart from the major players, there are smaller companies like Revolt Motors, EV Motors and Ola Electric, who have taken up the challenge of bringing revolutionary products to the Indian market.
These companies focus on electric vehicles, providing an alternative to traditional fuel-powered cars. Furthermore, they are also focusing on new technologies such as autonomous driving and connected cars.
In addition, the government of India has taken various initiatives to boost the automotive sector, such as Make in India, the FAME India scheme, and the Atmanirbhar Bharat scheme. These schemes have encouraged foreign investment and provided incentives for automakers to establish factories in India.
Overall, the automotive industry in India is expected to grow significantly in the coming years. It is estimated that the total number of vehicles will reach 10 crore by 2023. With the increasing demand for cars, it is anticipated that the automotive industry will become one of the biggest contributors to the country’s economy.
IMPORTANCE
In India, the automotive industry is a major contributor to the economy, accounting for over 7.5 per cent of the nation’s GDP in 2020. With rapid advancements in technology and increasing demand for personal vehicles, India’s automotive market is expected to grow significantly in 2023.
Automobile companies in India are leveraging new technologies such as Artificial Intelligence (AI) and the Internet of Things (IoT) to provide better customer experiences, develop efficient production systems, and reduce costs.
Additionally, the Indian government has implemented various initiatives, such as FAME-India and the National Electric Mobility Mission Plan to support the development of electric vehicles and reduce emissions from vehicles.
As a result, automotive companies in India are well-positioned to benefit from the growth of the industry in 2023. Automobile companies in India will be able to capitalize on opportunities such as the rise of autonomous driving, the expansion of ride-hailing services, and the increasing demand for electric vehicles.
Companies can also benefit by investing in the development of advanced connected car solutions, developing eco-friendly and sustainable vehicle designs, and improving manufacturing processes.
In addition, auto manufacturers should focus on providing quality after-sales services in order to build customer loyalty and maintain competitive advantage.
Here are the top 10 best automotive companies in India in 2023
Maruti Suzuki – Maruti Suzuki is one of India’s leading automobile companies. Founded in 1981, Maruti Suzuki has been a pioneer in the Indian auto market and has consistently held a leadership position among all car manufacturers in India.
With a strong network of more than 3,000 service centres and over 2,500 sales outlets spread across 1,800 cities, it has the widest reach of any car manufacturer in India.
Maruti Suzuki’s portfolio includes hatchbacks, sedans, SUVs, vans, and light commercial vehicles, with most models being powered by fuel-efficient petrol and diesel engines. Maruti Suzuki is committed to providing quality automobiles at affordable prices and offers excellent after-sales services.
Previously, the company relied heavily on small cars like the Alto and Wagon R, but now it has expanded its product line to include bigger cars like the Swift, Ciaz, Baleno, and Ertiga.
The brand is known for its focus on safety, offering advanced features like dual airbags, ABS, EBD, reverse parking sensors, and ISOFIX child seat anchors as standard on almost all models. The company has also taken up initiatives like ‘Green Revolution’ and ‘Utsav’, which promote eco-friendly transportation solutions. Maruti Suzuki also actively works towards creating energy-efficient cars that produce low emissions.
Maruti Suzuki has successfully captured the imagination of Indian customers with its wide range of cars, competitive pricing, and unbeatable network of service centres. It is no surprise that this auto giant has managed to keep a firm grip on the Indian automobile market for over four decades.
Hyundai Motor India – Hyundai Motor India is the second largest automobile manufacturer in India and the subsidiary of Hyundai Motor Company, South Korea. Established in 1996, it has become one of the most popular car manufacturers in India.
Hyundai Motor India’s range of cars includes hatchbacks, sedans, SUVs, crossovers and MPVs, with the likes of Grand i10 Nios, Xcent, Creta, Kona Electric and Venue making a mark in their respective segments. The company also offers passenger cars such as Santro, Aura, Verna and Elantra.
Hyundai Motor India is known for its excellent after-sales service and high standards of customer satisfaction, as evidenced by its success in numerous customer satisfaction surveys. The company has established over 350 sales, service and spare parts dealerships all over India to cater to the needs of its customers.
It is headquartered in Chennai and employs more than 8,000 people. With a strong focus on technology and innovation, Hyundai Motor India is dedicated to delivering world-class vehicles that meet the expectations of Indian customers.
Its products are designed to meet the highest safety and performance standards and are backed by quality assurance programs. Hyundai Motor India sets itself apart from other automobile companies by offering a wide range of services and benefits, such as extended warranty, roadside assistance and vehicle maintenance packages.
Through this commitment to excellence, the company has made a name for itself in the Indian automotive industry.
Honda Cars India – Honda Cars India Limited (HCIL) is one of the leading automotive companies in India and a subsidiary of the Japanese automotive giant Honda Motor Company. The company manufactures and sells passenger cars, utility vehicles and two-wheelers in India and has been operating since 1995. It has production facilities at Greater Noida in Uttar Pradesh and Tapukara in Rajasthan.
The company has several popular models in its portfolio, such as the Honda City, Honda Jazz, Honda Amaze, Honda WR-V, Honda BR-V, Honda Civic, Honda CR-V, Honda Accord and Honda BR-V. All these models are available with various engine options like petrol, diesel and CNG. Honda also offers a wide range of service parts and accessories for its cars.
HCIL also provides after-sales services such as regular maintenance, repair and servicing through its extensive network of dealerships across India. It also provides roadside assistance programmes and insurance services to its customers. The company also organises customer events on a regular basis to promote its products and services.
The company has attained many awards over the years, including the JD Power Asia Pacific Award for Customer Satisfaction in 2013, the J D Power Asia Pacific Award for Quality in 2016 and the Best Car Manufacturer in the Large Car Category in 2018.
Apart from selling cars in India, HCIL also exports cars to South Africa and some other countries. The company strives to provide innovative and high-quality products to its customers with a commitment to superior customer service.
Toyota Kirloskar Motor – Toyota Kirloskar Motor (TKM) is a joint venture between Toyota Motor Corporation of Japan and the Kirloskar Group of India, which began operations in 1997. TKM produces and sells Toyota vehicles in India, as well as providing after-sales service and parts. TKM’s products include a wide range of cars, vans, SUVs and multi-utility vehicles such as the Etios, Corolla Altis, Innova Crysta, Fortuner and Yaris sedan.
TKM has two production plants in India, one in Bangalore and the other in Bidadi. The company also has a research and development centre in Bangalore. It employs more than 8,000 people and has an annual turnover of over Rs. 8,000 crore.
TKM also offers an extensive range of after-sales services to its customers. In addition to regular service centres and workshops, the company has a network of Toyota Parts Distribution Centres across the country, which provide genuine spare parts for Toyota vehicles.
TKM is committed to environmental sustainability and has a strong focus on developing energy-efficient vehicles that reduce emissions and conserve natural resources.
The company also supports various social initiatives to help improve the lives of rural communities. Its CSR activities include providing clean drinking water, education and health care facilities, and supporting farmers in drought-prone areas.
Mahindra & Mahindra – Mahindra & Mahindra is an Indian multinational automotive manufacturing company. Founded in 1945 as a steel trading company, it has now grown into a multi-billion dollar conglomerate with a presence in sectors such as automobiles, information technology, banking, hospitality, and renewable energy.
The company has more than 135,000 employees in over 100 countries. It is the largest automobile manufacturer in India and produces a range of vehicles, including SUVs, trucks, buses, and three-wheelers. Its products are sold in over 90 countries.
The company’s flagship product, the Mahindra Scorpio SUV, is one of the most popular vehicles in India. In addition, the company produces electric vehicles, hybrid vehicles, and luxury cars. It also manufactures tractors and farm equipment and provides financial services such as insurance and credit cards.
Mahindra & Mahindra is committed to sustainability and sustainable development and has been recognized for its environmental initiatives.
Tata Motors – Tata Motors is an Indian multinational automotive manufacturing company headquartered in Mumbai, Maharashtra. It is part of the Tata Group, one of India’s largest business conglomerates.
The company’s portfolio includes passenger cars, commercial vehicles, and electric vehicles. Tata Motors designs, manufactures, sells, and services a wide range of vehicles in the Indian market as well as in other international markets. It also provides automotive financing, vehicle repair, and after-sales services.
Tata Motors has a presence across the globe, with operations in over 170 countries. It has seven production facilities in India, including four for passenger cars, two for commercial vehicles, and one for engines. The company also has plants in Thailand, South Africa, the UK, Indonesia, Argentina, Turkey, and Russia. Its products are exported to more than 90 countries worldwide.
Tata Motors was founded in 1945 by J. R. D. Tata and is today one of India’s leading automobile manufacturers. Its product range includes passenger cars, utility vehicles, trucks, buses, and defence vehicles. It is also engaged in developing electric vehicles and autonomous technologies for automotive vehicles.
The company has introduced several innovative and technologically advanced products in India, such as the Tata Nano, which is the world’s cheapest car, and the Tata Indica, India’s first completely indigenous passenger car. Other popular products from the company include the Tata Safari, the Tata Hexa, and the Tata Tiago.
In 2020, Tata Motors announced its plans to launch a range of electric vehicles in India. The company also signed a joint venture agreement with Volkswagen AG to develop and produce mobility solutions for India.
This collaboration will enable Tata Motors to leverage Volkswagen’s expertise in electric mobility and offer innovative and technologically advanced products in the Indian market.
Renault India – Renault India is the Indian subsidiary of the French automotive company Renault. Established in 2005, the company is headquartered in Chennai, Tamil Nadu and sells passenger cars, light commercial vehicles and electric vehicles across the country.
Over its 16 years in India, Renault has established a strong presence in the Indian market, growing to become one of the leading car manufacturers. The company currently offers a wide range of products, including sedans such as the Kwid, Triber, and Scala, SUVs such as the Duster, Captur and Kiger, and the Zoe electric vehicle.
Renault India strives to offer its customers a complete mobility experience, combining innovative technology, design, safety and convenience. The company has also been making strides in the electric vehicle segment with the launch of the Zoe EV in 2020.
In addition to providing a great driving experience, Renault also excels in customer service, offering a comprehensive after-sales network consisting of over 1000 touchpoints across the country.
Renault India’s commitment to sustainability is evident in its efforts to build a greener, cleaner and more sustainable future for India. The company is focused on transitioning towards low-emission vehicles and has set up charging infrastructure at select outlets for convenient recharging of electric vehicles.
Renault is constantly exploring new technologies to reduce the environmental impact of its vehicles and is working actively on developing lighter and more efficient engines.
All these efforts have enabled Renault India to become one of the most trusted brands in the Indian automobile industry, with a strong reputation for quality cars, excellent customer service, and a commitment to sustainability.
Nissan India – Nissan India is a Japanese automobile manufacturing company headquartered in Chennai, Tamil Nadu. The company is a wholly-owned subsidiary of the Nissan Motor Company and markets both cars and commercial vehicles in India. Nissan India currently sells a range of vehicles, including hatchbacks, sedans, SUVs, MUVs and buses.
The company entered India in 2005 and set up its first production facility at Oragadam, near Chennai. In 2010, it entered into a strategic alliance with Renault and established a second production facility in Oragadam. Nissan’s current product portfolio includes the Micra, Sunny, Terrano, Kicks and GT-R range of vehicles.
Nissan India launched its electric vehicle, Nissan Leaf, in July 2018. The Leaf has been launched in five variants along with a range of charging options such as home charger, public charger, and fast charger.
Nissan has also initiated several customer-centric initiatives such as ‘My NISSAN Care’, which provides end-to-end care for customers, from purchase to post-sales service support. Nissan India also has a wide distribution network of over 220 dealerships across 168 cities in the country.
Nissan India aims to be a leader in e-mobility solutions and plans to launch 12 new models by 2022. It has also established a ‘Connected Mobility’ division to develop products that leverage technology and data to create an enhanced driving experience. Nissan India will continue to focus on providing customers with safe, reliable and technologically advanced vehicles.
Volkswagen India – Volkswagen India is a subsidiary of the German automotive giant Volkswagen Group. Established in 2007, it has seen exponential growth in its operations in India over the years. The company has its headquarters in Pune, Maharashtra and has two state-of-the-art manufacturing plants in Pune and Aurangabad.
The company has entered into partnerships with many Indian companies to bring German quality to the Indian market. Volkswagen India offers an extensive portfolio of products ranging from sedans, SUVs, hatchbacks, MPVs, and luxury cars.
It also provides services such as warranty programs, roadside assistance, and vehicle maintenance services. The company is known for its commitment to customer satisfaction and after-sales service. Volkswagen India is at the forefront of technology and innovation, having launched ‘Volkswagen We’, an app that allows customers to access their car’s service records remotely, and ‘Volkswagen Connect’, a connected car platform.
Through its customer engagement initiatives, Volkswagen India has been able to build strong customer relationships. In 2021, Volkswagen India recorded a 48% growth in sales, driven by the launch of new models like the T-Roc and the Tiguan Allspace. With a focus on creating value for its customers, Volkswagen India has emerged as one of the leading players in the Indian automobile market.
Skoda Auto India – Skoda Auto India is a subsidiary of the German automotive giant Volkswagen AG and is headquartered in Mumbai, Maharashtra. It was established in 2001 and is one of the most successful international car brands in India.
Skoda Auto India offers a wide range of vehicles with various body styles like hatchbacks, sedans, SUVs and MPVs. Skoda vehicles are known for their impressive design, superior performance, comfort and convenience. The company has a network of more than 300 sales and service outlets spread across 108 cities in India.
Skoda Auto India also has an extensive range of advanced safety features, which include features such as ABS, EBD, ESC, Multi Collision Brake, ASR and Hill Hold Control. In addition, the company provides extended warranties and maintenance programs for its customers.
Skoda Auto India’s commitment to delivering quality products and services ensures that it remains a popular choice among Indian customers.
CONCLUSION
By 2023, India will have become a major automotive hub in the world. All major automakers such as Maruti Suzuki, Mahindra & Mahindra, Tata Motors and Hyundai Motors have made significant investments across the country.
The government has also taken steps to promote investment and manufacturing of electric vehicles in India. As a result, the automotive industry in India is expected to grow significantly, with an increase in production, sales and exports over the next few years.
Consumers can expect more options in terms of models and features, as well as better service from manufacturers. The Indian automotive industry is on track to become a leader in the global market.
