India’s car market is poised for growth, with an increasing emphasis on EVs, green technology, and technological innovation. The market is likely to see continued competition from domestic players like Maruti Suzuki, and Tata Motors, international players like Hyundai, Kia, and others, and new global entrants, with a major shift towards electrification and modernization, with an increase in consumer spending and standard of living.
The Indian automobile industry’s value is projected to increase from USD 116.86 billion in 2023 to USD 217.90 billion by 2031, with a compound annual growth rate (CAGR) of 8.1 percent.
In recent quarters, entry-level vehicles across segments have exhibited lower or negative growth rates. In contrast, vehicles in semi-premium and premium segments have shown a considerably higher growth rate.
Listed below are some of the leading automobile car manufacturers and operators along with their operational market share in India.
Maruti Suzuki India
Maruti Suzuki India Limited is engaged in the manufacturing, purchasing, and sale of passenger and commercial motor vehicles, components, and spare parts under the brand name Maruti Suzuki. Its other activities comprise the facilitation of pre-owned car sales, fleet management, and car financing.
With a market capitalization of Rs. 4,01,710 Crores, the shares of Maruti Suzuki India Limited were trading at Rs. 12,776.95 per equity share, up 1 percent from its previous day’s close price of Rs. 12,653.45.
As per the Annual vehicle industry performance data available for FY24, Maruti Suzuki India Limited has a market share of 41.72 percent in the passenger vehicles segment in India.
Its revenue from operations grew by 9.97 percent from Rs. 32,535 Crores in Q1FY24 to Rs. 35,779 Crores in Q1FY25, accompanied by profits of Rs. 2,543 Crores to Rs. 3,760 Crores.
Hyundai Motor India
Hyundai Motor India Limited is a part of the Hyundai Motor Group, which is the third largest auto original equipment manufacturer (“OEM”) in the world based on passenger vehicle sales.
It is engaged in manufacturing and selling reliable, feature-rich, and innovative four-wheeler passenger vehicles including models such as sedans, hatchbacks, SUVs, and electric vehicles (EVs) backed by the latest technology.
As per the Annual vehicle industry performance data available for FY24, Hyundai Motor India Limited has a market share of 14.57 percent in the passenger vehicles segment in India.
Hyundai Motor India Limited is coming up with its Initial Public Offering very soon with an offer for sale of 14.22 Crore equity shares of the company and the offer size is expected to be ~Rs. 24,000 Crores being India’s Largest IPO
As per the latest data available, its revenue from operations grew by 28.08 percent from Rs. 47,966.05 Crores in FY22 to Rs. 61,436.64 Crores, accompanied by profits of Rs. 2,901.59 Crores to Rs. 4,709.25 Crores.
Tata Motors
Tata Motors Limited is a leading automobile manufacturer offering a wide and diverse portfolio of cars, sports utility vehicles, buses, trucks, and defence vehicles across its global presence.
With a market capitalization of Rs. 3,43,740 Crores, the shares of Tata Motors Limited were trading at Rs. 933.85 per equity share, up 0.85 percent from its previous day’s close price of Rs. 926.
As per the Annual vehicle industry performance data available for FY24, Tata Motors Limited has a market share of 13.82 percent in the Passenger Vehicles segment and 37.83 percent in the Commercial Vehicle segment in India.
Tata Motors Limited’s total Consumer Vehicle sales for Sep 24 declined by 23 percent from 39,064 units in Sep 23 to 30,032 units in Sep 24 and its total Passenger Vehicle sales declined by 9 percent from 45,317 units in Sep 23 to 41,313 units in Sep 24. Its EV sales declined by 23 percent from 6,050 units in Sep 23 to 4,680 units in Sep 24.
Its revenue from operations grew by 5.68 percent from Rs. 1,02,236 Crores in Q1FY24 to Rs. 1,08,048 Crores in Q1FY25, accompanied by profits of Rs. 3,301 Crores to Rs. 5,692 Crores.
Mahindra & Mahindra
Mahindra & Mahindra Limited is one of the most diversified automobile companies in India with a presence across 2-wheelers, 3-wheelers, 4 wheelers, PVs, CVs, tractors & earthmovers. It also has a presence across financial services, auto components, hospitality, infrastructure, retail, logistics, steel trading and processing, IT businesses, and others.
With a market capitalization of Rs. 3,89,118 Crores, the shares of Mahindra & Mahindra Limited opened at Rs. 3,129.15 per equity share, with a flat movement from its previous day’s close price of Rs. 3,129.20.
As per the Annual vehicle industry performance data available for FY24, Mahindra & Mahindra Limited has a market share of 10.90 percent in the passenger vehicles segment and a market share of 27.16 percent in the Commercial Vehicles segment in India.
Mahindra & Mahindra Limited’s domestic sales for Sep 24 grew by 24 percent from 41,267 units in Sep 23 to 51,062 units in Sep 24. It achieved total sales of 87,839 units in month of Sep 24 compared to 75,604 units in Sep 23, higher by 16 percent.
Its revenue from operations grew by 9.81 percent from Rs. 33,892 Crores in Q1FY24 to Rs. 37,218 Crores in Q1FY25, accompanied by profits of Rs. 3,684 Crores to Rs. 3,546 Crores.
Written by: Bharath K.S
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