The Indian passenger car market is expected to reach a value of $54.84 billion in terms of market size by 2027. India is also on track to become the largest EV market by 2030, with a total investment opportunity of more than US$ 200 billion over the next 8-10 years. Grabbing these investments opportunities, the Top 10 Car Companies in India are increasing their efficiency and increasing their market share by launching new cars with innovative features.
India ranks 3rd largest automobile market in the world in terms of sales in 2026.
List of Top 10 Car Companies in India 2026
| S.no. | Car Company | Market Share | Units sold in FY26 |
|---|---|---|---|
| 1. | Maruti Suzuki | 38.9% | 18,23,130 |
| 2. | Mahindra & Mahindra | 14.1% | 6,60,276 |
| 3. | Tata | 13.5% | 6,31,387 |
| 4. | Hyundai | 12.5% | 5,84,906 |
| 5. | Toyota | 7.8% | 3,67,152 |
| 6. | Kia | 6.2% | 2,89,035 |
| 7. | Skoda | 1.6% | 75,555 |
| 8. | MG | 1.6% | 72,917 |
| 9. | Honda | 1.3% | 61,935 |
| 10. | Volkswagen | 0.8% | 37,577 |
Maruti Suzuki
Price Range: 4 to 30 lakhs
Best selling: Ertiga and Swift
Maruti Suzuki is the largest automobile manufacturer in India, specialising in small cars. Founded in 1981, Maruti Suzuki is a joint venture with Suzuki, which later became the first Japanese automaker, as well as first major foreign automaker to invest in India. In 2021, the company’s first electric car was launched, Maruti Suzuki Wagon R Electric. In 2023 the company was recognised as ‘Best Innovative Company of the Year’ and ‘Best Use of AI’ in customer service. From its first launch of the Maruti 800 in 1983, today the company has grown to more than 3.5K showrooms and 23 car models available in India. In FY26, Maruti sold 18,23,130 units, retaining a commanding lead even as its market share slipped below the 40% mark for the first time, settling at 38.9%.
Hyundai Motors
Price Range: 5 to 46 lakhs
Best selling: Creta and Venue
Established in 1996, Hyundai Motor India Limited has long been the second largest passenger vehicle manufacturer in India, though FY26 saw it slip to the No. 4 spot, with sales declining 2.3% to 5,84,906 units and market share dropping to 12.5%. In 2022, Hyundai IONIQ 5 won the ‘2022 World Car of the Year’ award and Hyundai ALCAZAR won ‘MPV of the Year’ award at the Car India awards. Hyundai is leading the charge in electric vehicles with a range of innovative and award winning models including KONA electric, Creta electric and IONIQ 5. From its first launch of Hyundai Santro in 1998, today the company offers 14 car models and has established over 1000+ showrooms in India.
Mahindra & Mahindra
Price Range: 7 to 31 lakhs
Best selling: Thar ROXX and Scorpio N
Mahindra & Mahindra is amongst the leading car manufacturers in India, established in 1945 by JC and KC Mahindra. The company was recognised as ‘One of the Most Trusted Brands of India 2021’ by Team Marksmen and CNBC TV18. In 2010, the company launched its first electric car Reva i then subsequently EVs were introduced like eVerito and eSupro, and more recently the BE 6 and XEV 9e. Apart from four-wheeler cars, the company is also known for its commercial vehicles and tractors. From its first launch of Jeep CJ3A in 1949, today the company has expanded to 16 car models and, driven by its SUV-only strategy, has climbed to the No. 2 spot in FY26 with 6,60,276 units sold (up 19.7% YoY) and a 14.1% market share — its highest ever.
Tata
Price Range: 5 to 22 lakhs
Best selling: Nexon and Punch
Founded in 1945, Tata is amongst the leading automobile manufacturers with global presence in 125 countries. In 2019, the company launched its first electric car Tigor EV and then subsequent Tiago.ev, Punch.ev, Curvv.ev and many more were launched. The company was recognised as ‘Turnaround Star’ at Forbes India Leadership Awards 2024 and as the ‘Best Electric Vehicle Manufacturing’ at Jagran High-tech EV Conclave. Today, the company is valued at $44 billion with 16 car models and 1 million+ vehicles sold annually. The company has acquired Ford India’s manufacturing plant in Gujarat, expanding its manufacturing base. In FY26, Tata posted record sales of 6,31,387 units (up 14% YoY), holding a 13.5% market share, and closely contesting Mahindra for the No. 2 spot through the year on the strength of the Punch, Nexon and the newly launched Sierra.
MG
Price Range: 7 to 45 lakhs
Best selling: Windsor EV and Hector
With its inauguration of first manufacturing facility at Gujarat in 2017, MG is leading automobile manufacturer, now known as a joint venture between JSW Group and MG Motor India. In 2022, the company introduced its first electric car ZS EV and then Comet EV and Windsor EV in recent years. The company was recognised with ‘Green Car Award’ for MG Windsor at the Indian Car of the year awards 2025 and as ‘Best Car Brand Pavilion’ at the Auto Expo 2025. Today, the company has expanded to 7 car models with 85% market coverage and 380+ touchpoints in India. MG posted a robust 17.3% YoY growth in FY26, supported by strong EV and SUV demand, taking its sales to around 72,900 units.
Toyota
Price Range: 6 lakhs to 2.4 crores
Best selling: Fortuner and Innova Crysta
Founded in 1997 in India, Toyota is the largest automobile manufacturer in the world, producing over 10 million vehicles per year. The company was established in India as a joint venture between Toyota Motor Corporation and Kirloskar Group. In 2020, the company was recognized with ‘Golden Peacock National Training Award’ and with ‘Best Manufacturer Award’ at the autocar awards in 2024. Toyota launched its first electric car, the Urban Cruiser Ebella, in India in January 2026, marking the brand’s entry into the battery-electric segment. With the company’s first launch of Qualis in 2000, today the company has grown to 12 car models and over 500+ showrooms in India. Toyota delivered a standout FY26, with sales rising 18.6% to 3,67,152 units and market share climbing to 7.8%.
Kia
Price Range: 8 lakhs to 1.3 crores
Best selling: Carens and Seltos
Founded in 2017 in India, Kia is a global mobility brand spread across 190 global markets. Kia established its manufacturing unit in India in 2017 with MoU signed by Andhra Pradesh government and commenced mass production in 2019, with annual production capacity of approximately 300,000 units in India. Kia’s first fully electric vehicle was launched in 2022 called EV6. Today, the brand has a widespread network of 700+ touchpoints, 300+ showrooms with 7 car models available in the country. In 2024, the Kia EV9 won both the ‘World Car of the Year’ and the ‘World Electric Vehicle’ awards at the World Car Awards. Kia continued its steady climb in FY26, growing 13.3% to 2,89,035 units and improving its market share to 6.2%.
Honda
Price Range: 7 to 21 lakhs
Best selling: City and Amaze
Established in 1995, Honda is amongst the leading automobile manufacture in India with 1.5 million cars sold in India. Honda is a Japanese multinational conglomerate automotive manufacturer, renowned for its internal combustion engines. Honda Elevate was recognized as Best Cars of 2023 at AutoX and Honda Amaze won the ‘IVA 2022 Indian Vehicle Awards’ in 2022. Today, with 5 car models, the company saw sales dip slightly in FY26 (-6% YoY) to around 61,900 units domestically, though momentum has picked up through 2026 on the back of the new Honda City and ZR-V. The company’s first electric car, the Elevate EV, is still expected to launch in India in 2026-2027.
Skoda
Price Range: 8 to 49 lakhs
Best selling: Kylaq and Slavia
With a legacy of 130 years globally and 25 years in India, Skoda is leading automobile manufacturer renowned for its unique designs. The company was recognised as ‘Sedan of the Year’ for its Slavia at the Acko Awards 2023 and Kylaq was recognised as ‘Car of the Year’ at Car and Bike Awards 2025. Skoda posted the highest growth rate of any major carmaker in FY26 — up 68.4% YoY to 75,555 units — driven chiefly by the Kylaq and the updated Kushaq, lifting its market share to 1.6%. The company’s first electric car, the Epiq, is expected to launch in India in late 2026. Today, the company has around 280 touchpoints with 4 car models available in India. In 2019, the company was merged with Volkswagen group of India to increase the efficiency of the merged brands.
Volkswagen
Price Range: 11 to 49 lakhs
Best selling: Virtus and Taigun
Launched in 2007, Volkswagen is one of the world’s leading manufacturers of automobiles and commercial vehicles. The group in India is represented by five brands: Skoda, Volkswagen, Audi, Porsche and Lamborghini. Today, the group upholds its plants in Pune and Aurangabad working seamlessly to manufacture the world’s most demanded cars. 3 car models of Volkswagen group are currently available in India. Volkswagen’s India sales declined around 11% in FY26 to roughly 37,600 units, even as the recently updated Taigun helped cushion the fall. The group was recognized with ‘Impactful Supply Chain Award’ from ET Now and ‘Excellence in Human Capital Management Award’ in the large organization category at The Machinist Award in 2024.
Points to consider before buying a car:
- Personal Preferences: like colour, model, number of seats etc.
- Budget: considering your income and expenses, prepare a budget.
- Performance and Features: compare the features of the shortlisted cars.
- Brand: choose a brand aligning with your requirements.
- Resale value: for future uncertainties, calculate the resale value of the car to gain maximum profit.
India has a significant growth potential for the automobile industry considering that the car ownership in India is significantly behind from developed regions like the US, China and Europe, where 80-90% of the population owns a car, compared to only around 8% in India. Global companies like Kia and Volkswagen have adapted themselves to cater to the large Indian middles-class population by adapting different modern structure and designs, instead of traditional structures and designs. This has allowed them to directly compete with domestic firms, making the sector highly competitive. The domestic firms have developed themselves, to compete at the global level efficiency of automobile vehicles. Thus, the Top 10 Car Companies have catered the major market share in India, leading the automobile industry by bringing innovative revolutions.
