Indian Automobile Industry Overview
The Indian automobile industry is reasonably concentrated, with the top five players having most of the market share in all the segments. The major players in the passenger car segment include Maruti Suzuki India Limited (Suzuki Motor Corporation), Tata Motors Limited, Hyundai Motor Company, Mahinda and Mahindra Limited, and Honda Motor Company.
The two-wheeler market is also concentrated, with major players occupying the majority share of the market. The key players in the two-wheeler market include Hero MotoCorp Limited, Honda Motorcycle & Scooter India Pvt. Ltd (Honda Motor Company), TVS Motor Company, Bajaj Auto Limited, and Royal Enfield.
Major players in the various segments are investing in R&D and infrastructure to gain the upper hand. For instance,
- In November 2023, Toyota Motor Corporation announced the expansion of its third car manufacturing plant in Bidadi, Karnataka, India, with an investment of approximately INR 3,300 crore (USD 396 million), which would increase its production capacity by 100 thousand units per annum.
- In June 2023, Musashi Seimitsu Industries, Japan, invested INR 700 million (USD 8.42 million) to expand its manufacturing facility in India. The company collaborated with Bharat New-Energy Company (BNC) Motors in India.
Indian Automobile Market Leaders
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Mahindra & Mahindra Ltd
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Tata Motors Limited
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Honda Cars India Ltd (Honda Motor Company)
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Maruti Suzuki India Ltd. (Suzuki Motor Corporation)
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Bajaj Auto Limited
- *Disclaimer: Major Players sorted in no particular order
