Throughout its formative days, the majority of Indian automotive manufacturers rely heavily on foreign technologies. However, the situation has started to shift over the years, and Indian automakers are now producing brilliant masterpieces using their own technology. The Indian automobile industry has expanded at a rapid pace. The automobile industry is one of India's fastest-growing industries. There was a time when the Indian market lacked variety in terms of automobiles. However, the statistics have completely changed. Today, the Indian market is spoiled for choice, with vehicles ranging from hatchbacks to SUVs, sedans to MPVs. In India, several of the world's leading automobile manufacturers have logistics. Maruti Suzuki, Tata Motors, Mahindra and Mahindra, Hyundai Motors, and other renowned companies are included. The competitiveness in India's automobile industry has made driving the most luxurious car feasible, with overseas players gaining the same momentum as domestic participants.
Every passing day, we notice certain new launches, some low-cost cars - all tailored to ensure that the common man also isn't left behind. Between FY 2009 and FY 2020, the CAGR of the Indian automotive industry's sales is around 8%. Vehicle registrations fell by 29 percent in the fiscal year 2020-2021, from 295.8 million to 221.85 million in 2020.
In 2020, India's automobile industry was the fifth largest sector in the world.
Let's take a glance at some of India's largest automobile manufacturers and their works:
Tata Motors is Country's biggest automobile manufacturing business. Tata Motors, originally established in 1945, is a multinational automobile company headquartered in Mumbai. Tata Motors, formerly known as Telco TATA Engineering and Locomotive Company Tata Motors, is a subsidiary of the Tata Group.
Company creates small to medium-sized utility models. It has been the de facto sole king in the commercial vehicle segment for several decades. It is also India's third-largest producer of passenger vehicles.
This Indian automobile company is traded on the Bombay Stock Exchange as well as the New York Stock Exchange. Tata Motors' revenue in 2020 is expected to be 34.7 billion USD. Tata Motors' passenger car division manufactures a variety of vehicles, including hatchbacks, sedans, SUVs, and MUVs. Tata Motors' best-selling models encompass Sumo, Indica, Tiago, Safari, Zest, Nexon, Hexa, Storme, and Bolt.
HINDUSTAN MOTOR LIMITED
B.M Birla formed Hindustan Motors Limited in 1942. It is a wholly-owned subsidiary of the Birla Technical Services group. Before Maruti Udyog, this company was the largest car manufacturer in India. Hindustan Motors was a forerunner in the manufacture of automobiles in India. In 2020, the company had a sales turnover of Rs 39,136 crore. Their revenue increased by 1.4 percent. Hindustan Motors Limited manufactures a variety of important cars and multi-utility vehicles, including the Mitsubishi Lancer, Trekker, Contessa, Ambassador, Porter, Pushpak, and Mitsubishi.
There was an immediate need for self-sufficiency following independence. Mr. Raghunandan Saran, an industrialist, was persuaded to enter the automobile industry by Pandit Jawaharlal Nehru. Thus, in 1948, Ashok Motors was established in Madras to manufacture Austin cars. With British Leyland's equity participation, the company's name was changed to Ashok Leyland in 1955. It has since become a major player in India's commercial vehicle industry.
Land Rover Leyland International Holdings Limited (LRLIHoverseas's) holding was acquired in 1987 by a joint venture between the Hinduja Group and IVECO Fiat SpA.
Ashok Leyland has been the technology leader in India's commercial vehicle industry for over five decades, shaping the country's commercial vehicle profile by introducing technologies and product ideas that have since become industry standards.
Ashok Leyland has factories in Ennore, Bhandara (Maharashtra), Hosur (2 units), and Alwar.
It is India's second-largest commercial vehicle manufacturer, with a market share of nearly 30%. The company has a track record of selling, well almost 60,000 vehicles and approximately 7000 engines per year. In 2020, Ashok Leyland had consolidated revenues of Rs. 174.67 billion.
MARUTI SUZUKI INDIA LIMITED
Maruti Suzuki India Limited is an Indian automobile manufacturer that is a subsidiary of Suzuki, a Japanese automobiles manufacturer. It is India's most well-known and distinguished automobile manufacturer. This Indian automobile company is popularly known as Maruti, and it was previously known as Maruti Udyog Limited. The Government of India established Maruti Udyog Limited in 1981, only to merge with the Japanese automobile company Suzuki in October 1982. In the same year, Maruti established its first manufacturing plant in Gurgaon, Haryana. Mr. R.C. Bhargava is the company's chairman, and Mr. Kenichi Ayukawa is its CEO and Managing Director. Maruti Suzuki India Ltd. principally manufactures automobiles and has been the most popular automobile brand among Indians since its establishment. The firm was founded in 1982, but it did not begin manufacturing automobiles until a year later, in 1983. Maruti Suzuki 800, the company's first model, initially appeared on Indian roads in December 1983.
Maruti Suzuki India Ltd. has production plants in two locations in India. The Gurgaon facility consists of three factories with an annual capacity of approximately 3,50,000 vehicles; however, it is levels of up to 9,00,000 units yearly, thanks to efficiency improvements.
HYUNDAI MOTOR INDIA LIMITED
Hyundai Motor is India's second-largest carmaker. Hyundai Motors is South Korea's largest vehicle manufacturer and the world's sixth-largest. It is even India's top passenger car exporter to African and Middle Eastern countries. Hyundai's flagship model, the Santro, was a smashing success, propelling the manufacturer into the hearts of Indian auto enthusiasts. Hyundai Motors produced around 527,320 cars and other vehicles for the local and foreign markets in 2017-2018. Hyundai has two manufacturing factories in Chennai, both of which have cutting-edge production, quality, and testing capabilities. Hyundai Motor India's best-selling vehicles.
Hyundai Motor India's best-selling models are the Eon, Santro, i10 and i10 Grand, Elantra, Xcent, Verna, Creta, and Tucson.
This company's popular models include the Santro, Getz Prime, Hyundai i10, Hyundai i20 Accent, and the Verna and Sonata.
Recently launched KIA is related to Hyundai. They are not the same company yet Hyundai and Kia are linked! ... Kia and Hyundai Motor Group operate independently, while Hyundai is Kia Motors' parent corporation. The distinction between Kia and Hyundai is that both firms use their own brand ideologies that they use to build their vehicles in a distinctive way.
MAHINDRA & MAHINDRA (M&M)
Whenever it comes to becoming the world's largest tractors manufacturers, Mahindra & Mahindra tops the list both in India and globally. Aside from that, M&M, a subsidiary of the Mahindra Group, is the country's largest SUV manufacturer. Mahindra's top flagship models in India are the Mahindra Bolero, Mahindra Scorpio, Mahindra XUV500, and Mahindra Thar.
Honda Cars Ltd is a joint venture between Siel Limited, an Indian corporation, and Honda Motor Co Ltd, a Japanese company. Honda first entered the Indian vehicle industry in 1995. Honda Cars Ltd. ' main flagship models include, among others, the Honda City, Honda Jazz, Honda Accord, Honda CR-V, and Honda Brio. This automobile manufacturer produced around 178,755 automobiles in the fiscal year 2017-2018. Automobiles manufactured by the firm are also exported to neighbouring countries.
Audi India Pvt. Ltd. is a joint venture between the German automaker Audi and the Volkswagen Group India. It was established in 2007 and is headquartered in Mumbai, Maharashtra.
Audi India was founded as a part of Volkswagen Group Sales India in March 2007. Audi is represented in 110 countries globally, and the company has been selling its goods in India since 2004.
Audi established a unique sales company in India in March 2007. Audi India was established in Mumbai as a branch of Volkswagen Group Sales India Pvt. Ltd. Audi is making a long-term statement in the country by announcing ambitious expansion plans.
Audi's goal has been to become the dominant vehicle luxury brand in the Indian market since 2015.
Audi India's strategy includes major investments in branding, marketing, production (locally assembled engines to reduce import costs by 10 -30%), exclusive dealerships, and after-sales services. In 2007, only 2% of new car purchasers in India were familiar with Audi. It increased to 13% in 2008.
In January 2007, BMW India began operations. Its operations include a production plant in Chennai, a parts warehouse in Mumbai, a training centre in Gurgaon NCR, and therefore the establishment of a dealer organisation across the country's major metropolitan centres.
On March 29, 2007, the BMW Group Plant in Chennai began operations. BMW Group Plant Chennai manufactures 11 automobile models in India: the BMW 3 Series, the BMW 3 Series Gran Turismo, the BMW 5 Series, the BMW 6 Series Gran Turismo, the BMW 7 Series, the BMW X1, the BMW X3, the BMW X4, the BMW X5, the BMW X7, and therefore the MINI Countryman.
MERCEDES- BENZ INDIA
The Mercedes-Benz India Pvt Ltd, which was created in 1994, is a parent company of the German Daimler AG, established its headquarters in Pune, Maharashtra, India.
With the opening of its Bangalore R&D facility in 1996, Mercedes-Benz built its largest R&D center outside of Germany. Daimler's significant commitment to India as a destination for production, R&D, and IT is exemplified through MBRDI, which has offices in Bangalore and Pune. In India, MBRDI is Daimler's "Think Tank." MBRDI currently employs 5,600 engineers and IT specialists.
Mercedes-2016 Benz's expansion plan will concentrate around the phrase "Winning with Mercedes-Benz." Mercedes-Benz India sold 13502 cars in the January , December 2015 period, representing a remarkable 32 percent year-on-year increase. Mercedes-Benz India has grown by double digits for the third year in a row. Mercedes-Benz will introduce 12 new models and 10 new retail locations in 2016. Mercedes-Benz India reported retail sales of 15,538 units from January to December 2018.
Porsche India Pvt Ltd is a joint venture between the German automaker Porsche and the Volkswagen Group India. The company was founded in 2004 and is headquartered in Mumbai.
Currently, Porsche India imports and sells Boxster, Cayman, 911, Panamera, Macan, and Cayenne.
Porsche has been selling luxury automobiles in India since 2004, delivering a total of 1,052 units, 85 percent of which are Cayenne SUV types. Porsche India was founded as its division in order to become the dominant vehicle luxury brand in the Indian automotive market. As of January 2013, the corporation intended to expand its sales in India by building new locations there.
LET'S THROW A GLANCE ON SWOT ANALYSIS OF INDIAN AUTOMOBILES INDUSTRY
- The domestic market is substantial.
- The government gives financial aid to manufacturing companies.
- Labor cost savings
- Continuous product innovation and technological advancement in an ever-changing industry
- Asian markets are seeing increased growth.
- Demand for luxury commercial vehicles is increasing.
- Cost-cutting manufacturing facilities in Asian countries
- Setbacks in infrastructure
- Productivity is low.
- The cost of production rises when the government imposes too many taxes.
- In research and development, there is a lack of investment.
- Excise duty reduction
- Rural demand is increasing.
- The level of income is steadily rising.
- Vehicles that use less gasoline will be introduced.
- Changing lifestyles and customer demand are driving an increase in the sales of two-wheelers and tiny cars.
- Interest rates are rising.
- There is too much competition.
- Raw material prices are growing.
- Fuel prices are steadily rising.
- The economy is slowing.
- Recession in the economy
- Fixed costs and investments are high.
The automotive industry in India is a burgeoning business that holds great promise and is critical to the country's economic and technological growth. The provision of low-cost skilled labor, diverse research and development centers and easy access to low-cost steel production all contribute to India's viability. India's economy is expanding, making it a profitable investment option.
For more Information download Park+ App.