Indian automakers have come a long way to have the current wide range of cars in the market. The automakers make the Indian automobile industry and they have made it one of the leading automobile industries in the world. It is expected that the Indian automobile industry will be the third largest globally by 2016. Currently, India is the second largest manufacturer of two-wheelers. It is projected that the production of two-wheelers will rise to 34 million by FY20 from 18.5 million in FY15. Additionally, production of passenger vehicles is expected to rise from 3.2 million to 10 million in FY20.
Who are the major Indian automakers?
There are many automakers in India.
- Tata Motors
This is one of the largest automobile firms in Asia with its headquarters in Mumbai, India. In the financial year 2010-11, the company had projected annual revenue of $27.629 billion. The company has a market share of 31.2 percent in multi-utility vehicles. In the segment for luxury cars, the company has a market share of 6.4 percent. It sells most of its vehicles in India.
- Maruti Suzuki India Limited
This is also a major automaker in India. The company began as Maurti Udyog Limited in 1981. In 1994, the company became the first automobile company in India to manufacture a million vehicles. In 17th September 2007, the company acquired the name Maruti Suzuki India Limited. It had revenue of $7.13 billion in the financial year 2010-11.
- Hyundai Motor India Limited
This Indian automobile company was established in 1998 as a subsidiary of the Korean auto company, Hyundai Motor Company. It is the second largest automaker in India and the largest exporter of passenger cars in the country. The domestic market of this company grew by 25 percent after the recession. In 2009, it sold 27,803 units in India.
- Mahindra & Mahindra Limited
This automaker is part of the Mahindra Group and it is the largest maker of SUVs in India. The company had record sales of 26,921 units in September 2009.
- General Motors India Private Company
This is a subsidiary of the General Motors. It is wholly-owned. In September 2009, it had a Y-o-Y sales growth of 49 percent with sales amounting to 7,654 units.
- Hero MotoCorp Limited
Hero Group purchased Honda shares when Honda opted to end a joint venture. In the financial year 2008-09, Hero Honda had sales of 3.2 million bikes with net profit amounting to 1281.7 crore. In September 2009, the company sold 4, 01,290 two-wheeler units.
- Toyota Kirloskar Motor Private Limited
This is a joint venture that brings Toyota Motor Corporation, a Japanese auto giant, and Kirloskar Group together. The car models from this automaker include Corolla, Innova, Camry, Land Cruiser Prado and Fortuner. In December 2009, the company sold 7,657 units.
- Honda Cars India Limited
This is also a joint venture between Honda Motor Company Limited, a Japanese automaker, and Siel Limited, an Indian company. It began in 1995 and in September 2009 it sold 5,794 units.
Other automakers in India include Bejaj Auto and Hindustan Motors.
Challenges faced by the Indian automakers
Automakers in India face several challenges. For instance, most automakers depend on oil and this affects the economy, the environment and national security. When the oil prices increase globally, the operation cost increases. This affects the sales as well as revenue growth of the automakers. The impact of this dependence on oil is also reflected in the economic growth. Recession is also another challenge that is faced by automakers in India. This is because recession, especially in 2008, decreased consumer spending. This affected automobile sales. This forced automakers in India to struggle with balancing business cost while remaining competitive.
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