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10 Best Automobile Companies in India 2024

Best Automobile Companies in India

Geared up to sneak through the leading automobile tycoons in India? The automobile sector of India holds a significant position in surging the country’s overall growth. With evolution and advancement by new brands, even existing ones are updating themselves regularly to ace the race. Below is a comprehensive list of the top 10 automobile companies in Indian 2024 and their crucial metrics that depict their contribution to its growth. Essential criteria to rate these companies include their safety, price, mileage, and revenue.

A survey delights the automobile sector with a revelation that India would soon be the 3rs largest passenger vehicle market globally by the end of the preceding year. The last year marked an epic increase in the sale of passenger vehicles with up to 2.70%. Likewise, the sales of two-wheelers ramped up by 4.86%, while that of three-wheeler vehicles increased to 10.27%.

10 Leading Automobile Companies in India

On the whole, the automobile industry in India manufactured almost 30,915,420 passenger vehicles along with many two-wheeler and three-wheeler vehicles in 2020. It was a surge of around 6% compared to the last year. Here is the cumulative list of India’s top 10 automobile companies with a phenomenal increase.

Tata Motors Ltd.

  • Overall Revenue- Rs. 296,917 Cr.
  • Employees- 82,797
  • Market Cap- Rs. 41,562 Cr.
  • Holdings of promoter- 38.37%
  • Passenger vehicle share- 6.3%
  • Commercial vehicle share- 45.1%

Tata Motors is a pioneer of advanced automobile mechanisms in India and imparts top-notch quality auto vehicles to more than 175 countries. The product portfolio comprises multi-utility vehicles like trucks, buses, cars and many more. The company has the biggest market turnover and a phenomenal global network of 134 subsidiaries. Its associates include the Joint venture with Jaguar Land Rover from the UK and South Korea’s Tata Daewoo. TML holds a whopping market share of 45.1% in ILCV (Intermediate Light Commercial Vehicle), MHCV and even SCV (Small Commercial vehicle).

Maruti Suzuki India Ltd.

  • Overall Revenue- Rs. 83,281 Cr
  • Employees- 33,180
  • Market Cap- Rs.199,130 Cr
  • Holding of promoter- 56.21%

Maruti Suzuki India Ltd. is a leading name for passenger vehicles in India. Since 1981, the company has been serving its wide range of customers with an exemplary range of mid-segment vehicles. This entity is a joint venture amongst the Suzuki Motor Corporation (SMC) and the Government of India signed in Japan in 1982. Maruti stands in the 2nd position for India’s largest and most famous automobile companies. With 53% of the passenger vehicles, it records a volume sale under this segment. It is now the largest subsidiary of SMC, with it holding the maximum equity stakes of 56.21%. Market share figures replicate the standing of this automobile giant, and they also have manufacturing facilities in the Gurugram and Manesar of Harayana. A tentative annual production ranges to 1.58 million/annum.

Mahindra and Mahindra Ltd.

  • Overall revenue- Rs. 53,017 Cr.
  • Employees- 42,875
  • Market Cap- Rs. 70,725 Cr.
  • Holding of Promoter- 18.90%

Mahindra & Mahindra Ltd. is the flagship entity of Mahindra Group dealing in mobility products. The company started assembling vehicles in 1947 and gradually emerged as the third-largest automobile establishment considering the overall annual sales. Tentative CV production of the company is 25.3%, for passenger vehicles, it’s 7.4%, for UV it’s 25% and 44.5% for the LCV. It deals in an extensive line of products that encompasses electric vehicles, pickups, SUVs, two-wheelers, commercial vehicles and construction equipment.

Hero MotoCorp Ltd.

  • Overall Revenue- Rs. 32,871 Cr
  • Employees- 8,551
  • Market Cap- rs.57,180 Cr
  • Holding of Promoters- 34.63%
  • Market Share- 36%

Hero MotoCorp has been the biggest two-wheeler manufacturer with over 90 million+ satisfied customers since 2001. It retained the sought-after title and maintained consistency for more than 18 consecutive years. Hero Motocorp is a global automobile champion stretching its hands towards socio-economic progress by generating employment for people of all ages and abilities.

It was the only India-based two-wheeler company that developed a manufacturing base in Latin America. Besides, it begins with the various manufacturing facilities in Columbia during 2016. It’s an integral part of the famous Hero Group and produces an annual capacity of around 9 million two-wheelers.

The company is led under Chairman Dr Pawan Munjal, who has undertaken a few rapid strides for fruitful expansion across 37 countries, including Central America, Africa, Asia and South America. It’s a global enterprise that holds a level for the wide range of manufacturing facilities, specifically in Bangladesh and Columbia.

Bajaj Auto Ltd.

  • Overall Revenue- Rs.30,598 Cr
  • Employees- 8,064
  • Market Cap- Rs.84,763 Cr
  • Holding of Promoters- 53.52%
  • Market Share- 18.7%

Bajaj Auto is amongst the 3rd largest manufacturer globally and has its prominence in more than 70 nations globally. It is the biggest manufacturer of three-wheeler vehicles globally and is an integral part of the renowned Bajaj Group. Two-wheeler and three-wheeler vehicles by Bajaj Auto hold significant brand popularity across the countries like Africa, Latin America, the Middle East and even the South. The establishment ranks in 5th position for India’s top 10 automobile manufacturing companies.

Bajaj Auto also prevails the international holdings and is a 100% Netherland-based subsidiary from the reputed firm. To date, Bajaj has made an incredible investment of €198.1 million through this subsidiary and holds almost 48% stakes in the KTM of Austria. It is a well-known motorcycle brand to date.

Ashok Leyland Ltd.

  • Overall Revenue- Rs.28,476 Cr
  • Employees- 11,966
  • Market Cap- Rs.20,314 Cr
  • Holding of Promoters- 51.13%

Ashok Leyland is the next popular flagship by the Hinduja Group and an alleged name for the biggest manufacturers of commercial vehicles. This brand also holds the 4th position for the manufacturing of buses globally and the 10th position for trucks. The headquarters of Ashok Leyland is in Chennai, and it also has 9 other manufacturing plants, out of which 7 are in India.

At the same time, there’s a bus manufacturing facility in the Ras Al Khaimah of UAE. Alongside, the company catalogue includes the 2.5T GVW minimum and the trailer weight ranges to 49T. It also has 16 to 80 seater buses and other vehicles for a unique application. Its 7, 00,000 trucks keep rolling over the roads daily.

TVS Motor Company Ltd.

  • Overall Revenue- Rs.15,129 Cr
  • Employees- 5121
  • Market Cap- Rs.20,178 Cr
  • Holdings of promoter- 57.40%

TVS Motor Company ranks at the 3rd position for the most significant share in the two-wheeler market of India. This establishment produces around 4 million 2 wheelers and 1, 30,000 3 wheeler vehicles annually. It has around 90 companies under one roof and extends through several industries like Electronics, Aviation, Finance, Energy, Automobile, Logistics, Insurance, Textiles, Housing and Investments. The top manufacturing plants of this enterprise are in Hosur (Tamil Nadu), Mysore (Karnataka) and Nalagarh (Himachal Pradesh).

Eicher Motors Ltd.

Another popular option for automobile companies in India is Eicher Motors Limited (EML). This entity holds a worldwide position for middleweight motorcycles. It’s the oldest motorcycle brand coming up with two-wheelers like Royal Enfield in 1901. There are advanced manufacturing facilities in UK, Chennai and Tamil Nadu.

Eicher also has its subsidiary venture with the AB Volvo of Sweden. VECV offers an extensive range of trucks and buses of weight 5-55 tonnes and has a manufacturing plant in Pithampur (Madhya Pradesh). This entity has the 8th position amongst the top automobile companies of India.

Force Motors Ltd.

  • Overall Revenue- Rs.3, 487 Cr.
  • ROE- 7.67%
  • Market Cap- Rs, 1,155 Cr.
  • Average growth- 6.48%

The Force Motors is a successful endeavour by the Shri. N.K. Firodia started in 1958 having an aim to offer reasonable commercial transport facilities. It provides advanced technical support and a line of affordable and effective products. The product list of this enterprise includes small commercial vehicles (SCV), Special Utility vehicles (SUV), Light commercial vehicles (LCV) and also Multi-Utility Vehicles (MUV). It is indeed a perfect solution for all types of automobile needs.


  • Overall Revenue- Rs.1,312 Cr
  • Dividend Yield- 0.78%
  • Market Cap- Rs.555.36 Cr
  • ROE- 4.79%
  • Sales Growth- 6.51%

SML ISUZU Ltd. has been a reliable and reputed manufacturer of top-quality commercial vehicles since 1985. This entity has effortlessly catered to a broad spectrum of light and medium commercial vehicles for the past 33 years. It is also the top company that produces top vehicles like ambulances, buses and other made-to-order vehicles. Other stakeholders in this company are Isuzu Motors and Sumitomo Corporation of Japan.

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