Indian car industry is one of the most promising industries in the country. Over the past one or two decades, the industry has undergone a sea change with the advent of a number of foreign car manufacturers. With the speedy growth of car industry in India, many car manufacturing companies are emerging with new models to suit the diverse needs of the passengers. There are different types of cars that run on Indian streets, which include both Indian cars and international vehicles.
Indian Car Industry: An Overview
Indian Car Industry is one of the biggest car industries in the world. It is also one of the fastest growing industries in the whole world. Indian car industry manufactures more than 11 million two and four wheeled cars and around 1.5 million cars are exported annually.
India is the second biggest manufacturer of motorcycles in the world and in 2009, the yearly sales of two wheelers surpassed 8.5 million. In the same year, the commercial vehicle and passenger car industry in India ranked 7th in the world, with yearly car production of over 2.6 million units. India can take its pride for coming up as the fourth biggest exporter of passenger vehicles, following Japan, South Korea, and Thailand.
Since 2009, around 40 million Indian cars (passenger vehicles) are running on the Indian roads. Over 1.5 million Indian cars were marketed in 2009, which is a growth of 26%. This makes India the second fastest developing car market in the world. It is anticipated that by 2050, India will hold the top position in the world in terms of car manufacturing with around 611 million cars to hit the roads of India. A significant part of the vehicle manufacturing industry of India is based in and around Chennai. This is the reason Chennai is called “The Detroit of India”. The city is responsible for 60% of the automobile exports in India.
Chakan Corridor near Pune in Maharashtra is one major car manufacturing center with facilities for Volkswagen/Skoda, General Motors, and Mahindra and Mahindra. Other major car manufacturing hubs in India are as follows:
- Kolkata in West Bengal
- Halol in Gujarat
- Gurgaon near New Delhi
- Aurangabad in Maharashtra
Of late, India has also come up as one of the major small vehicle manufacturing hubs.
Export of Indian Cars
Car exports of India have risen steadily and in 2009, it amounted to $4.5 billion. The biggest car export market of India is the United Kingdom. India also exports cars to countries like The Netherlands, Germany, and South Africa. By 2014, the automotive export of India is projected to go past $12 billion. A number of foreign car manufacturing companies have set up their manufacturing facilities in India such as Nissan, Hyundai Motors, Volkswagen, Toyota, and Suzuki.
Hyundai Motors individually exported 240,000 cars in 2008, which were manufactured in India. Nissan Motors is also contemplating about exporting 250,000 cars made in its facilities in India by 2011. Likewise, General Motors declared its strategies to export around 50,000 vehicles made in India by 2011.
Cars manufactured by the following companies are widely sold in India:
- Maruti Suzuki
- Ford India
- Tata Motors
- General Motors
As per statistics furnished by Bloomberg L.P., India outperformed China as the fourth biggest Asian car exporter in 2009.
Passenger cars in India
1. Domestic Indian car companies
Given below are the names of some domestic Indian car companies and their products:
- Hindustan Motors: Ambassador
- Chinkara Motors: Hammer, Beachster, Rockster, Roadster 1.8S, Sailster, and Jeepster
- Mahindra: Xylo, Major, Bolero, Scorpio
- ICML: Rhino Rx
- San Motors: Storm
- Premier Automobiles Limited: RiO, Sigma
- Tata Motors: Indica, Nano, Indigo, Indica Vista, Indigo CS, Indigo Manza, Safari, Sumo, Aria, and Xenon
2. Foreign automobile companies in India:
Given below are the names of the major foreign automobile manufacturing companies in India:
A. Companies making cars or assembling them in India
- Fiat India (in collaboration with Tata Motors): Linea, Grande Punto, Palio Stile.
- BMW India: 5 Series, 3 Series, 1 Series.
- General Motors India Chevrolet (CSPIL): Beat, Spark, Aveo, Aveo U-VA, Cruze, Optra, Tavera.
- Ford India: Ikon, Ford Figo, Endeavour, and Fiesta.
- Hyundai Motor India: Santro, i10, i20, Verna Transform, Accent, Sonata Transform.
- Honda Siel: City, Jazz, Accord and Civic.
- Maruti Suzuki: Alto, 800, Estilo, WagonR, Ritz, A-star, Swift DZire, Swift, Omni, SX4, Eeco, Versa, Grand Vitara and Gypsy
- Mahindra Renault: Logan
- Mitsubishi (in collaboration with Hindustan Motors): Pajero, Lancer, Lancer Cedia
- Mercedes-Benz India: E-Class, C-Class.
- Toyota Kirloskar: Innova, Corolla, and Camry
- Nissan Motor India: Micra.
- Audi India: Q5, A4, A6
- Volkswagen India: Jetta, Polo, Passat
- Škoda Auto India: Octavia, Fabia, Superb, and Laura.
B. Companies exporting cars to India
- Bentley: Azure, Arnage, Continental GT, Brooklands, Mulsanne, Continental Flying Spur.
- Audi: TT, A8, Q5, R8, Q7
- Bugatti: Veyron
- BMW: 7 Series, 6 Series, X5, X3, M3, X6, M6, M5, and Z4.
- Fiat: Bravo, Nuova 500
- Chevrolet: Captiva.
- Jaguar: XJ, XF, XK.
- Honda: CR-V, Civic Hybrid.
- Land Rover: Range Rover Sport, Range Rover, Freelander 2 and Discovery 4.
- Lamborghini: Murciélago and Gallardo.
- Mercedes-Benz: CLS-Class, CL-Class, SL-Class, S-Class, M-Class, SLK-Class, Viano.
- Maybach: 62 and 57.
- Nissan: X-Trail, Teana, 370Z
- Mitsubishi: Outlander, Montero.
- Rolls Royce: Phantom, Ghost, Phantom Drophead Coupé, Phantom Coupé.
- Porsche: Boxter, 911, Cayman, Panamera, Cayenne.
- Suzuki: Grand Vitara.
- Škoda: Superb.
- Volkswagen: Touareg, Beetle, Phaeton.
- Toyota: Land Cruiser Prado, Land Cruiser, Prius, Fortuner.
- Volvo: S80, S60, XC90
Commercial cars in India
1. Foreign Brands
2. Local Brands
- Ashok Leyland
- Mahindra Navistar
Electric vehicle manufacturers in India
Given below are the names of electric car manufacturers in India:
- Ajanta Group
- Hero Electric
- Tara International
Indian car insurance companies
Car insurance is one of the top insurance industries in India. The industry has witnessed significant growth since purchasing car insurance has been made compulsory. At present, major car manufacturing companies are entering into tie-ups with top car insurance companies to provide simple and affordable insurance. Given below are the names of some of the top car insurance companies in India:
- Tata AIG General Insurance
- United India Insurance Co. Ltd
- ICICI Lombard Motor Insurance
- Bajaj Allianz
- The Oriental Insurance Company Limited
- Maruti Insurance
- National Insurance Co. Ltd.
- Kotak Mahindra Prime Ltd.
- IFFCO-TOKIO Private Car Insurance
- Reliance General Insurance Co. Ltd.
- The New India Assurance Company
- HSBC India
Upcoming Indian cars
Some of the upcoming models in the Indian car industry are as follows:
- Maruti Kizashi
- Maruti SX4 Diesel
- Toyota Etios
- Nissan Micra Diesel
- Hyundai Avante
- Maruti Cervo
- Chevrolet Volt
- Volkswagen Golf