Top Automobile Startups In India

Top Automobile Startups In India

India became the fourth largest auto market in 2019 displacing Germany with about 3.99 million units sold in the passenger and commercial vehicles categories. Automobile export reached 4.77 million vehicles in FY20, growing at a CAGR of 6.94% during FY16-FY20. There are several initiatives by the Government of India and major automobile companies in the Indian market is expected to make India a leader in the two-wheeler and four-wheeler market in the world. There are many automobile startups in India. Indian automobile industry mainly focused on servicing, dealership, financing, and maintenance of vehicles. The Indian automobile industry includes two-wheelers, trucks, cars, buses, and three-wheelers which play a crucial role in the growth of the Indian economy. India has emerged as Asia’s fourth-largest exporter of automobiles, behind Japan, South Korea, and Thailand.

  • India is expected to be the world's third-largest automotive market in terms of volume by 2026.
  • The EV industry will create five crore direct and indirect jobs by 2030.
  • In April-March 2020, overall automobile exports registered a growth of 2.95%.
  • Passenger vehicle exports marginally increased by 0.17% and two-wheeler exports registered a growth of 7.30% in April-March 2020 over the same period last year.
  • The sector attracted $24.5 billion FDI during April 2000 - June 2020; accounting for 5.1% of the total FDI inflows.
Automobile Production and Sales Trends
Automobile Production and Sales Trends

Tata Motors Ltd

Tata Motors Limited, a USD 35 billion organization, is a leading global automobile manufacturer. The company produces passenger cars, including popular models such as Jaguar, Land Rover, Safari, and Sumo, and commercial vehicles, such as buses, trucks, tractor-trailers, light commercial vehicles, and defense and construction equipment. Tata Motors sells its vehicles through an extensive dealer network in India and export vehicles to countries in Africa, Asia, Europe, the Middle East ad South America. In India, Tata Motors is a market leader in commercial vehicles and among the top passenger vehicle manufacturers with 9 million vehicles. Tata Motors strives to pioneer new products that increase the imagination of GenNext customers. The product range includes high-performing engine oils, gear oils and rear axle oil for commercial vehicles range manufactured by Tata Motors for both the on-road and off-road applications segment.

Revenue INR 3.02 lakh Crores
Market Cap Rs 199,130 Crores
Market Share Passenger Vehicles (6.3%)
Commercial Vehicle (45.1%)
Promoter Holdings 38.37 %

Maruti Suzuki India Ltd

Maruti Suzuki India Ltd (formerly Maruti Udyog Ltd) is India's largest passenger car company, accounting for over 50 percent of the domestic car market. The company is engaged in the business of manufacturing, purchase, and sale of motor vehicles and spare parts (automobiles). The company was formed as a government company, with Suzuki as a minor partner to make a people’s car for middle-class India. The company’s product range has widened, ownership has changed hands and the customer has evolved. According to Automotive Intelligence, Suzuki is the eleventh largest vehicle manufacturing company in the world and fourth in Japan in terms of worldwide sales. Maruti’s profit increase to a 98% rise in its economic second-quarter net profits and they are planning to invest $32.3 million.

Revenue Rs. 88,630.1 Crores
Market Cap Rs 199,130 Crores
Market Share Passenger Vehicles( 53 %)
Promoter Holdings 56.21 %
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Mahindra & Mahindra Ltd

Mahindra & Mahindra Limited (M&ML) founded in 1945 at Ludhiana, is an Indian multinational automobile manufacturing company. They are market leaders with the vision to drive the industry trends in the direction of technological creativity, social duty, and constant enhancement of customer contentment. The Company's automobile products include light, medium, and heavy commercial vehicles, jeep-type vehicles, and passenger cars. The company launches a new visual identity reflecting modernity and dynamism.

Revenue Rs. 1.06 lakh Crores
Market Cap Rs 70,725 Crores
Market Share Passenger Vehicles( 7.4 %)
Tractor (40.2%)
UV (25%)
Promoter Holdings 18.90 %

Hero MotoCorp Ltd

Hero MotoCorp Limited is the world's largest manufacturer of two-wheelers. The company has four manufacturing facilities namely Dharuhera and Gurgaon in Haryana, Haridwar in Uttarakhand and Neemrana in Rajasthan. The joint venture between India's Hero Group and Honda Motor Company Japan has not only created the world's single largest two-wheeler company but also one of the most successful joint ventures worldwide. As per the terms of the Agreement, Honda had agreed to transfer its entire shareholding of 26% in the company to the Indian Promoter Group.

Revenue Rs. 29,614 Crores
Market Cap Rs 57,180 Crores
Market Share 36.0%
Promoter Holdings 34.63 %

Bajaj Auto Ltd

Bajaj Auto Ltd is one of the leading two & three-wheeler manufacturers in India. The company is well known for its R&D, product development, process engineering, and low-cost manufacturing skills. The company has two subsidiaries name Bajaj Auto International Holdings BV and PT Bajaj Indonesia. The holding company operated in the auto, wind-energy, insurance, and others. The company is the flagship firm of Bajaj Group, which also makes home appliances, lighting, and steel, as well as provides finance, insurance, and travel services.

Revenue Rs. 29,919 Crores
Market Cap Rs 84,763 Crores
Market Share 18.7%
Promoter Holdings 53.52 %

Ashok Leyland Ltd

The company was set up in collaboration with Austin Motor Company England for the assembly of Austin cars. Ashok Leyland, the flagship of the Hinduja group, is the 2nd largest manufacturer of commercial vehicles in India, the 3rd largest manufacturer of buses in the world, and the 10th largest manufacturers of trucks. Ashok Leyland has recently been ranked as the 34th best brand in India. Ashok Leyland has been a major presence in India's commercial vehicle industry with a tradition of technological leadership, achieved through tie-ups with international technology leaders.

People, Planet, and Profit for all stakeholders especially customers are at the core of Ashok Leyland which resonates with Philosophy of ‘AAPKI JEET, HAMARI JEET’.

Revenue Rs. 21,332 Crores
Market Cap Rs 20,314 Crores
Market Share M&HCV Bus segment (41.2%)
Promoter Holdings 51.13 %
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TVS Motor Company Ltd

TVS Motor Company Ltd is located in Chennai, Tamil Nadu, India, and is part of the Motorcycle Manufacturing Industry. It is one of the leading two-wheelers and three-wheeler exporters from India distributing to over 60 countries. TVS brand provides highly profitable, socially responsible, and leading manufacturer of high value for money, environmentally friendly, lifetime personal transportation products. The motorcycle marks TVS Motor Company's entry into the super-premium segment both in domestic and international markets.

Revenue Rs. 150 Crores
Market Cap Rs 20,178Crores
Promoter Holdings 57.40 %
Market Share (FY 2017-18)
Market Share (FY 2017-18)

Eicher Motors Ltd

Eicher Motors Limited is an India-based company, which operates in the automotive segment. The Company owns Royal Enfield, which offers middleweight motorcycles. Eicher Motors Limited is a 50-50 joint venture with Sweden's AB Volvo and VE Commercial Vehicles Limited (VECV) designs manufactures and markets reliable fuel-efficient trucks and buses is one of India's leading manufacturers. In October 2017 Royal Enfield forayed into Vietnam the fourth biggest motorcycle market in the world and opened its first store in Ho Chi Minh City.

Revenue Rs. 9,696.83 Crores
Market Cap Rs 70,788.55 Crores
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Buying a car used to be very difficult before the internet age because theindustry was just too scattered. Today we have a lot of online portals that willtake you through the process effortlessly. One such portal is CarDekho. Founded by Amit Jain and Anurag Jain in 2008, Cardekho is a car search …

Force Motors Ltd

Force Motors Ltd is a fully, vertically integrated automobile company, with expertise in the design, development, and manufacture of the full spectrum of automotive components, aggregates, and vehicles. The Company is engaged in manufacturing light commercial vehicles and utility vehicles, and engines. Force Motors started production of the Hanseat three-wheelers in collaboration with Vidal & Sohn Tempo Werke, Germany, and went on to establish a strong presence in the light commercial vehicles (LCV) field with the Matador.

Turnover Rs. 3,487 Crores
Market Cap Rs 1,155 Crores
ROE 7.67 %
Sales Growth (3Yrs) 6.48 %


SML Isuzu Ltd. (SMLI) is a trusted and reliable commercial vehicle manufacturer since 1985. It has over 33 Years of experience in producing Light & Medium commercial vehicles to meet Indian customer needs. SMIL is the first company to manufacture and supply state of the artfully built Buses, Ambulances, and customized vehicles. It is the last in the list of top Automobile Companies in India.

Turnover Rs. 1,312 Crores
Market Cap Rs 555.36 Crores
Dividend Yield 0.78 %
ROE 4.79 %
Sales Growth (3Yrs) 6.51 %

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