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INDUSTRIES & MARKETS
Automotive industry in India
Table of Contents
1
01 Overview
03
Leading car manufacturing countries worldwide 2021
04
Number of road transport passengers in India FY 2001-2019
05
Number of registered vehicles in India FY 1951-2019
06
Automotive sector employment India FY 2013-2018
07
Automotive components market size in India FY 2016-2021
08
Indian central government road transport tax revenue FY 2010-2019
02 Trade
10
Export volume of passenger vehicles from India FY 2015-2022
11
Export volume of commercial vehicles India FY 2015-2022
12
Export volume of two-wheelers India FY 2015-2022
13
Three-wheeler export volume India FY 2015-2022
14
Value of automotive parts exports India FY 2009-2021
03 Segments
16
Production volume of vehicles India FY 2011-2022, by segment
17
Passenger vehicles production volume India FY 2014-2022
18
Production volume of M&HCV in India FY 2008-2020
19
Production volume of two wheelers India FY 2008-2022
20
Production volume of three wheelers India FY 2008-2022
04 Sales
22
Passenger vehicles sales volume India FY 2014-2022
23
Commercial vehicles sales volume India FY 2012-2022
24
Two-wheeler domestic sales in India FY 2011-2022
25
Three-wheelers domestic sales volume in India FY 2015-2022
26
Top selling cars in India in 2022, by unit sales
05 Companies
28
Passenger car market share India FY 2022, by vendor
29
Commercial vehicle market share India FY 2021-2022, by manufacturer
30
Market share of two-wheelers India FY 2022, by leading manufacturer
31
Domestic three-wheeler market share India FY 2022, by company
32
Sales volume of Maruti Suzuki cars in India 2021, by model
33
Sales volume of Tata cars in India 2021, by model
34
Sales volume of Mahindra cars in India 2021, by model
Overview
CHAPTER 01
Description: China led the market for motor vehicle production in 2021, producing more than 26.1 million cars and commercial vehicles that year. This was even greater than the production values of the other top five countries combined. In comparison, vehicle
production in the United States-the second-ranking country-amounted to approximately 9.2 million units, the majority of which were commercial vehicles. Read more
Note(s): Worldwide; 2021
Source(s): OICA
0 5,000 10,000 15,000 20,000 25,000 30,000
China
United States
Japan
India*
South Korea
Germany
Mexico
Brazil
Spain
Thailand
France
Canada
Cars Commercial vehicles
Production volume in thousand units
3
Motor vehicle production volume worldwide in 2021, by country (in 1,000
units)
Leading car manufacturing countries worldwide 2021
Description: In fiscal year 2019, the road transport passengers amounted to around 22.6 trillion passengers per kilometer across India. The road network across the south Asian country was the second largest in the world. India`s automotive market was dominated
by two-wheelers and passenger vehicles. Two-wheeler sales in recent years had a share of over 80 percent. Read more
Note(s): India; FY 2001 to FY 2019
Source(s): Ministry of Road Transport and Highways (India)
Pasenger
movement
in
billion
passengers
per
kilometer
FY 2001FY 2002FY 2003FY 2004FY 2005FY 2006FY 2007FY 2008FY 2009FY 2010FY 2011FY 2012FY 2013FY 2014FY 2015FY 2016FY 2017FY 2018FY 2019
0
5,000
10,000
15,000
20,000
25,000
2,076 2,413 2,815 3,070 3,469
4,252 4,657
5,482
6,182
7,192
8,409
9,478
10,469
11,742
13,393
15,428
17,832
20,237
22,582
4
Passenger movement by road in India from financial year 2001 to 2019 (in
billion passengers per kilometer)
Number of road transport passengers in India FY 2001-2019
Description: The number of registered vehicles across India was around 295 million in fiscal year 2019. Vehicle registrations grew at a compound annual growth rate of over ten percent between fiscal years 2007 and 2019. The south Asian country's transport sector
accounted for a 4.85 percent share of the GVA with road transport accounting for over three percent of it. The GVA from railways was about 0.7 percent and air transport accounted for about 0.16 percent during the same time period. Read more
Note(s): India; FY 1951 to FY 2019
Source(s): Ministry of Road Transport and Highways (India)
Number
of
vehicles
in
millions
FY
1951
FY
1961
FY
1971
FY
1981
FY
1991
FY
2001
FY
2002
FY
2003
FY
2004
FY
2005
FY
2006
FY
2007
FY
2008
FY
2009
FY
2010
FY
2011
FY
2012
FY
2013
FY
2014
FY
2015
FY
2016
FY
2017
FY
2018
FY
2019
0
50
100
150
200
250
300
350
0.3 0.7 1.9 5.4
21.4
55 58.9
67 72.7
81.5
89.6
96.7
105.4
115
127.7
141.9
159.5
176
190.7
210
230
253.3
272.6
295.8
5
Number of registered vehicles across India from financial year 1951 to
2019 (in millions)
Number of registered vehicles in India FY 1951-2019
Description: The Indian automotive sector employed over 1.36 million people in fiscal year 2018. The employment figures were relatively small compared to the EU automotive industry that employed around 2.7 million personnel. In the United States, part dealers and
motor vehicle sector had around 2.8 million employees on their payrolls in 2021. Even then, India had one of the largest global automotive markets in 2019. The sector however, started facing the effects of a slowdown in terms of sales [...] Read more
Note(s): India; FY 2013 to FY 2018
Source(s): Ministry of Road Transport and Highways (India)
Employment
in
thousands
FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018
0
200
400
600
800
1,000
1,200
1,400
1,600
1,058.5 1,076.38
1,195.32
1,241.52
1,303.58
1,365.44
6
Employment in the automotive sector across India from financial year
2013 to 2018 (in 1,000s)
Automotive sector employment India FY 2013-2018
Description: In fiscal year 2021, the market size for auto components in the country accounted for approximately 45.6 billion U.S. dollars, down from about 56.5 billion U.S. dollars in fiscal year 2019. With the market push for electric vehicles, a number of automotive
component industries planned to manufacture lithium-ion batteries in the future. Read more
Note(s): India; FY 2016 to FY 2021
Source(s): Automotive Component Manufacturers Association of India; India Brand Equity Foundation
Market
size
in
billion
U.S.
dollars
FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021
0
10
20
30
40
50
60
39.05
43.55
51.2
56.52
49.3
45.9
7
Size of automotive component market across India from financial year
2016 to 2021 (in billion U.S. dollars)
Automotive components market size in India FY 2016-2021
Description: The tax revenue from road transportation across India for the central government had amounted to approximately 1.2 trillion Indian rupees in fiscal year 2019. High speed diesel were the highest taxed products across the south Asian country. Despite
the introduction of the Goods and Services Tax in 2017, road tax continued to be paid over and above it. Read more
Note(s): India; FY 2010 to FY 2019
Source(s): Ministry of Road Transport and Highways (India); Website (Central Excise and Customs)
Revenue
tax
in
trillion
Indian
rupees
FY 2010 FY 2011 FY 2012 FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019
0.0
0.5
1.0
1.5
2.0
2.5
3.0
0.48
0.75 0.76
0.91 0.89
1.1
2
2.8
1.81
1.21
8
Value of Indian central government road transport tax revenue from
financial year 2010 to 2019 (in trillion Indian rupees)
Indian central government road transport tax revenue FY 2010-2019
Trade
CHAPTER 02
Description: In fiscal year 2022, over 577 thousand passenger cars were exported from India. It took around seven years for the Indian passenger vehicle market to make the jump in production volume from three million to four million. In 2022, over three million
passenger vehicles produced were sold domestically. Maruti Suzuki, the country`s biggest car manufacturer, had the leading share in sales volume of passenger cars in 2021. Read more
Note(s): India; FY 2015 to FY 2022
Source(s): SIAM India
Passenger
car
exports
in
thousands
FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022
0
100
200
300
400
500
600
700
800
621.34
653.05
758.73 748.37
676.19 662.12
404.4
577.88
10
Export volume of passenger vehicles from India from financial year 2015
to 2022 (in 1,000s)
Export volume of passenger vehicles from India FY 2015-2022
Description: Around 92 thousand commercial vehicles were exported from India in fiscal year 2022. The Indian automobile industry became the fourth largest in the world in 2017. Two-wheelers accounted for share of about 81 percent in the domestic industry in
financial year 2021. Read more
Note(s): India; FY 2015 to FY 2022
Source(s): SIAM India
Commercial
vehicle
exports
in
thousands
FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022
0
20
40
60
80
100
120
86.94
103.12
108.27
96.87
99.93
60.38
50.33
92.3
11
Export volume of commercial vehicles from India between financial year
2015 and 2022 (in 1,000s)
Export volume of commercial vehicles India FY 2015-2022
Description: Over 4.4 million units of two-wheelers were exported from India in fiscal year 2022. The south Asian country was the largest manufacturer of two-wheelers across the globe. The export volume saw decrease for two consecutive years in financial year 2020
and 2021, mostly due to the impact of coronavirus pandemic. Read more
Note(s): India; FY 2015 to FY 2022
Source(s): SIAM India
Exports
in
thousand
units
FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
5,000
2,457.47 2,482.88
2,340.28
2,815
3,280.84
3,519.41
3,282.79
4,443.02
12
Export volume of two-wheelers from India between financial year 2015
and 2022 (in 1,000s)
Export volume of two-wheelers India FY 2015-2022
Description: Around 500 thousand three-wheelers were exported from India at the end of fiscal year 2022. India`s automotive market was dominated by two-wheelers and passenger vehicles. Two-wheeler sales on the other hand had a share of over 81 percent. The
export volume saw decrease for two consecutive years, mostly due to the impact of coronavirus pandemic. Read more
Note(s): India; FY 2015 to FY 2022
Source(s): SIAM India
Export
volume
in
thousands
FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022
0
100
200
300
400
500
600
407.6 404.44
271.89
381
567.68
502.65
392.94
499.73
13
Export volume of three-wheelers from India between financial year 2015
to 2022 (in 1,000s)
Three-wheeler export volume India FY 2015-2022
Description: In financial year 2021, India's automotive parts exports valued around 13.3 billion U.S. dollars. This was a slight decrease compared to the previous year. Around 32 percent of these exports went to each Europe and North America. Read more
Note(s): India; FY 2009 to FY 2021
Source(s): Automotive Component Manufacturers Association of India; India Brand Equity Foundation
Exports
in
billion
U.S.
dollars
FY 2009 FY 2010 FY 2011 FY 2012 FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021
0
2
4
6
8
10
12
14
16
5.1
3.99
6.65
8.91
9.68
10.16
11.21
10.83 10.9
13.5
15.17
14.5
13.3
14
Value of automotive parts exports from India between financial year 2009
to 2021 (in billion U.S. dollars)
Value of automotive parts exports India FY 2009-2021
Segments
CHAPTER 03
Description: India was one of the leading countries in the world in terms of vehicle production. In financial year 2022, the total production volume of vehicles in India was around 22.9 million units, which was an increase from the previous year. In 2020, the production
value contracted the first time during the presented period. This was partially due to the introduction of the new Bharat Stage VI (BS-VI) emissions standards from April 1, 2020, and overall scaled down production to lower stock of the [...] Read more
Note(s): India; FY 2011 to FY 2022; Values have been rounded for clarity
Source(s): SIAM India
Production
volume
in
millions
FY 2011 FY 2012 FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022
0
5
10
15
20
25
30
35
Two wheelers Three wheelers Passenger vehicles Commercial vehicles
16
Production volume of vehicles across India from financial year 2011 to
2022, by segment (in millions)
Production volume of vehicles India FY 2011-2022, by segment
Description: At the end of fiscal year 2022, around 3.7 million passenger vehicles were produced across India. The automobile industry within the country witnessed a slowdown due to an economic slump and the impact of the coronavirus pandemic in financial year
2020 and 2021. Rising congestion and the push from the government to switch to electric vehicles could also be a reason for the decline in growth. However, between fiscal years 2007 and 2017, the compound annual growth rate of registered [...] Read more
Note(s): India; FY 2014 to FY 2022
Source(s): SIAM India
Production
volume
in
thousands
FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022
0.0
0.5
1.0
1.5
2.0
2.5
3.0
3.5
4.0
4.5
3.09
3.22
3.47
3.8
4.02 4.03
3.42
3.06
3.65
17
Production volume of passenger vehicles in India from financial year 2014
to 2022 (in millions)
Passenger vehicles production volume India FY 2014-2022
Description: In fiscal year 2020, the production volume of medium and heavy commercial vehicles across India was around 234 thousand units. In fiscal year 2019, the Indian commercial vehicle industry recorded an all time high with a sales volume of over a million
units. The decrease was mainly due to the impact of the coronavirus pandemic. Read more
Note(s): India; FY 2008 to FY 2020
Source(s): Ministry of Road Transport and Highways (India); SIAM India
Production
volume
in
thousands
FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020
0
50
100
150
200
250
300
350
400
450
500
294.96
192.28
250.13
344.54
384.8
278.56
221.56
268.55
341.29 342.76 344.59
444.36
233.98
18
Production volume of medium and heavy commercial vehicles across India
from financial year 2008 to 2020 (in 1,000s)
Production volume of M&HCV in India FY 2008-2020
Description: Two-wheeler production volume stood at around 18 million across India at the end of fiscal year 2022. Two-wheelers accounted for a share of around 80 percent of total automobile produced across the south Asian country in the same year. The
production volume saw decrease for three consecutive years, mostly due to the impact of coronavirus pandemic. Read more
Note(s): India; FY 2008 to FY 2022
Source(s): SIAM India
Production
volume
in
millions
FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022
0
5
10
15
20
25
30
8.03 8.42
10.51
13.38
15.43 15.72
16.88
18.49 18.83
19.93
23.15
24.5
21.03
19.35
17.7
19
Production volume of two wheelers across India from financial year 2008
to 2022 (in millions)
Production volume of two wheelers India FY 2008-2022
Description: Three-wheeler production volume stood at over 758 thousand units across India at the end of the fiscal year 2022. The transport sector across the south Asian country was ranked third in 2017 in terms of employment opportunities, after textiles and
apparel and food processing industries. Read more
Note(s): India; FY 2008 to FY 2022
Source(s): SIAM India
Production
volume
in
thousands
FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022
0
200
400
600
800
1,000
1,200
1,400
500.66 497.02
619.19
799.55
879.29
839.74 830.11
949.02 934.1
783.72
1,022.18
1,268.83
1,132.98
614.62
758.09
20
Production volume of three wheelers across India from financial year 2008
to 2022 (in 1,000s)
Production volume of three wheelers India FY 2008-2022
Sales
CHAPTER 04
Description: Passenger vehicle sales in India saw an increase of 14 percent in financial year 2022, with leading manufacturers having to reduce output in order to prevent inventory overloads. In fiscal year 2022, there were around 2.72 million passenger cars sold
across the south Asian country. However, in financial year 2021 the economic slowdown in the nation had affected the industry. Read more
Note(s): India; FY 2014 to FY 2022
Source(s): Auto Punditz; Website (team-bhp.com)
Sales
volume
in
millions
FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022
0.0
0.5
1.0
1.5
2.0
2.5
3.0
3.5
4.0
2.5
2.6
2.79
3.05
3.29
3.38
2.77
2.39
2.72
22
Sales volume of passenger vehicles across India from financial year 2014
to 2022 (in millions)
Passenger vehicles sales volume India FY 2014-2022
Description: In financial year 2022, around 716 thousand units of commercial vehicles were sold across India. It was the lowest since 2012. Tata Motors dominated the market with a share of over 37 percent. The overall economic slowdown due to the impact of
coronavirus (COVID-19), transition to BS-VI emission standards, and revised axle load norms were some of the contributing factors for the two consecutive years` decline of sales volume in this sector. Read more
Note(s): India; FY 2012 to FY 2022
Source(s): SIAM India
Sales
volume
in
thousands
FY 2012 FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022
0
200
400
600
800
1,000
1,200
809 793
633 615
686
714.08
856.92
1,007.31
717.6
568.56
716.57
23
Sales volume of commercial vehicles across India from financial year 2012
to 2022 (in 1,000s)
Commercial vehicles sales volume India FY 2012-2022
Description: In financial year 2022, two-wheeler sales in India saw a decrease from the previous years to 13.47 million units. The sales reached an all-time high as of 2019, when India's auto industry sold some 21 million units. This figure is almost double the 2011 sales,
when just 11.77 million two-wheeler units were sold in India. Read more
Note(s): India; FY 2011 to FY 2022
Source(s): SIAM India
Vehicle
sales
in
million
units
FY 2011 FY 2012 FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022
0
5
10
15
20
25
11.77
13.41 13.8
14.81
15.98
16.46
17.59
20.2
21.18
17.42
15.12
13.47
24
Two-wheeler domestic sales in India from from financial year 2011 to 2022
(in million units)
Two-wheeler domestic sales in India FY 2011-2022
Description: Over 260 thousand three-wheelers were sold across India at the end of financial year 2022. The lowest volume was in the financial year 2021 since financial year 2004. The south Asian country was the largest worldwide market for thee-wheeler production
and sales. India`s automotive market was dominated by two-wheelers and passenger vehicles. Read more
Note(s): India; FY 2015 to FY 2022
Source(s): SIAM India
Number
of
units
in
thousands
FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022
0
100
200
300
400
500
600
700
800
532.63 538.21
511.88
635.6
701.01
637.07
219.45
261
25
Domestic sales volume of three-wheelers across India from financial year
2015 to 2022 (in 1,000s)
Three-wheelers domestic sales volume in India FY 2015-2022
Description: Among passenger vehicles, Maruti Suzuki, followed by Hyundai, had the largest share of the market in financial year 2021. Maruti Suzuki`s best-selling models include the Swift, Dzire, Wagon and the Baleno. Maruti also sold around19 thousand Swift cars
in February 2022. In 2020, Maruti Suzuki reported domestic sales of 1.46 million units in India. Read more
Note(s): India; as of February 2022
Source(s): Auto Punditz; Website (team-bhp.com)
Swift (Maruti)
Dzire (Maruti)
Wagon R (Maruti)
Baleno (Maruti)
Nexon (Tata)
Ertiga (Maruti)
Alto (Maruti)
Bolero (Marhindra)
Venue (Hyundai)
Celerio (Maruti)
19,202
17,438
14,669
12,570
12,259
11,649
11,551
11,045
10,212
9,896
Car sales in units
26
Best-selling cars across India as of February 2022, based on unit sales
Top selling cars in India in 2022, by unit sales
Companies
CHAPTER 05
Description: Maruti Suzuki had the leading share in the passenger car market across India in fiscal year 2022 with nearly 42 percent. The top three players held approximately 75 percent of the market share. This was predominantly due to brand loyalty and new
launches. Read more
Note(s): India; FY 2022
Source(s): Auto Punditz; Website (team-bhp.com)
0% 5% 10% 15% 20% 25% 30% 35% 40% 45%
Maruti Suzuki
Hyundai
Tata
Mahindra
Kia
Toyota
Renault
Honda
Volkswagen
MG
Nissan
Ford
Mercedes-Benz
Fiat
42.75%
16.24%
11.45%
6.86%
5.71%
4.05%
3.08%
2.86%
1.87%
1.3%
1.24%
0.78%
0.4%
0.39%
Market share
28
Passenger car market share across India in financial year 2022, by vendor
Passenger car market share India FY 2022, by vendor
Description: In financial year 2022, Tata Motors dominated the domestic commercial vehicle market across India with a share of over 42 percent. In that year, the company had a sales volume of around 275 thousand units. Commercial vehicles sales had been on an
inline across the south Asian country for a few years. From mid-2019 however, the automotive industry`s slowdown has affected the sales and production alike. Read more
Note(s): India; FY 2021 and FY 2022
Source(s): Auto Punditz; Website (team-bhp.com)
0% 5% 10% 15% 20% 25% 30% 35% 40% 45%
Tata Motors
Mahindra & Mahindra
Ashok Leyland
VECV
Maruti Suzuki India
Force Motors
SML Isuzu
Daimler India Commercal Vehicle
42.23%
21.77%
14.2%
6.17%
5.9%
1.23%
0.9%
1.98%
36.31%
28.71%
12.94%
5.2%
5.44%
0.92%
0.79%
1.75%
FY 2022 FY 2021
Market share
29
Market share of commercial vehicles across India in financial year 2021
and 2022, by manufacturer
Commercial vehicle market share India FY 2021-2022, by manufacturer
Description: In the financial year 2022, Hero MotoCorp was the leading two-wheeler manufacturer in India, with a market share of 34 percent. The volume of two-wheelers sold across India during the same period reached 12 million units, which was a decrease from
the previous year`s 17.42 million units. Read more
Note(s): India; FY 2022
Source(s): Auto Punditz; Website (team-bhp.com)
0% 5% 10% 15% 20% 25% 30% 35% 40%
Hero MotoCorp
Honda Motorcycles & Scooters
TVS
Bajaj Auto
Suzuki Motorcycle
Royal Enfield
India Yamaha Motor
Hero Electric Vehicles
Okinawa Autotech
Piaggio
34.51%
24.83%
15.07%
11.7%
4.04%
3.79%
3.58%
0.55%
0.39%
0.33%
Market share
30
Market share of two-wheelers across India in financial year 2022, by
leading manufacturer
Market share of two-wheelers India FY 2022, by leading manufacturer
Description: Bajaj Auto had the leading market share of about 33 percent in the three-wheeler segment across India in fiscal year 2022. The sector was also affected by the onslaught of the coronavirus (COVID-19) and witnessed a drop in growth during the measured
time period. Read more
Note(s): India; FY 2022
Source(s): Auto Punditz; Website (team-bhp.com)
0% 5% 10% 15% 20% 25% 30% 35% 40%
Bajaj Auto
Piaggio
YC Electric Vehicle
Mahindra and Mahindra
Atul Auto
Saera Auto Electric Auto
Mahindra Reva Electric Vehicles
TVS Motor
34.97%
11.23%
4.39%
3.79%
3.42%
2.18%
2.07%
2.01%
Market share
31
Market share in the three-wheeler sector across India in financial year
2022, by company
Domestic three-wheeler market share India FY 2022, by company
Description: In 2021, more than 183 thousand units of Maruti Suzuki's Wagon R were sold across India. The four door hatchback was the best selling car among all passenger vehicles. In 2021, more than three million passenger vehicles have been sold in India. Read
more
Note(s): India; 2021
Source(s): Auto Punditz
0 20 40 60 80 100 120 140 160 180 200
Wagon R
Swift
Baleno
Alto
Ertiga+XL6
Dzire
Vitra Brezza
Ecco
S-Presso
Celerio
Ignis
183.85
175.02
172.24
166.23
154.31
116.22
115.96
114.52
65.48
32.85
32.74
Number of vehicles sold in thousands
32
Sales volume of Maruti Suzuki cars across India in 2021, by model (in
1,000s)
Sales volume of Maruti Suzuki cars in India 2021, by model
Description: In 2021, more than 108 thousand units of Tata Nexon were sold across India. Tata Nexon is a 5 seater SUV which became the best selling model produced by the Indian automobile manufacturer that year. Tata Motors was a wholly owned subsidiary of
the Indian conglomerate, the Tata Group. In that year, the company sold more than 330 thousand vehicles. Read more
Note(s): India; 2021
Source(s): Rush Lane
0 20 40 60 80 100 120
Nexon
Altroz
Tiago
Harrier
Punch
Tigor
Safari
108.58
69.74
64.94
28.04
22.57
18.9
18.36
Number of vehicles sold in thousands
33
Sales volume of Tata cars across India in 2021, by model (in 1,000s)
Sales volume of Tata cars in India 2021, by model
Description: In 2021, approximately 65 thousand units of Mahindra Balero were sold across India. The overall sales volume of the company was more than 200 thousand units the same year. The previous year, the manufacturer recorded a huge decrease in sales
volume due to the impact of the coronavirus pandemic. Read more
Note(s): India; 2021
Source(s): Website (gaadiwaadi.com)
0 10,000 20,000 30,000 40,000 50,000 60,000 70,000
Bolero
XUV 300
Scorpio
Thar
XUV 700
XUV 500
Marazzo
Alturas G4
KUV
Verito
65,313
47,432
36,945
32,139
11,964
5,321
1,816
419
75
23
Number of vehicles sold
34
Sales volume of Mahindra cars across India in 2021, by model
Sales volume of Mahindra cars in India 2021, by model
Sources
35
Auto Punditz
Automotive Component Manufacturers Association of India
India Brand Equity Foundation
Ministry of Road Transport and Highways (India)
OICA
Rush Lane
SIAM India
Website (Central Excise and Customs)
Website (Directorate of Data Management, Central Excise and Customs)
Website (gaadiwaadi.com)
Website (team-bhp.com)

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study_id23364_automotive-industry-in-india.pdf

  • 2. Table of Contents 1 01 Overview 03 Leading car manufacturing countries worldwide 2021 04 Number of road transport passengers in India FY 2001-2019 05 Number of registered vehicles in India FY 1951-2019 06 Automotive sector employment India FY 2013-2018 07 Automotive components market size in India FY 2016-2021 08 Indian central government road transport tax revenue FY 2010-2019 02 Trade 10 Export volume of passenger vehicles from India FY 2015-2022 11 Export volume of commercial vehicles India FY 2015-2022 12 Export volume of two-wheelers India FY 2015-2022 13 Three-wheeler export volume India FY 2015-2022 14 Value of automotive parts exports India FY 2009-2021 03 Segments 16 Production volume of vehicles India FY 2011-2022, by segment 17 Passenger vehicles production volume India FY 2014-2022 18 Production volume of M&HCV in India FY 2008-2020 19 Production volume of two wheelers India FY 2008-2022 20 Production volume of three wheelers India FY 2008-2022 04 Sales 22 Passenger vehicles sales volume India FY 2014-2022 23 Commercial vehicles sales volume India FY 2012-2022 24 Two-wheeler domestic sales in India FY 2011-2022 25 Three-wheelers domestic sales volume in India FY 2015-2022 26 Top selling cars in India in 2022, by unit sales 05 Companies 28 Passenger car market share India FY 2022, by vendor 29 Commercial vehicle market share India FY 2021-2022, by manufacturer 30 Market share of two-wheelers India FY 2022, by leading manufacturer 31 Domestic three-wheeler market share India FY 2022, by company 32 Sales volume of Maruti Suzuki cars in India 2021, by model 33 Sales volume of Tata cars in India 2021, by model 34 Sales volume of Mahindra cars in India 2021, by model
  • 4. Description: China led the market for motor vehicle production in 2021, producing more than 26.1 million cars and commercial vehicles that year. This was even greater than the production values of the other top five countries combined. In comparison, vehicle production in the United States-the second-ranking country-amounted to approximately 9.2 million units, the majority of which were commercial vehicles. Read more Note(s): Worldwide; 2021 Source(s): OICA 0 5,000 10,000 15,000 20,000 25,000 30,000 China United States Japan India* South Korea Germany Mexico Brazil Spain Thailand France Canada Cars Commercial vehicles Production volume in thousand units 3 Motor vehicle production volume worldwide in 2021, by country (in 1,000 units) Leading car manufacturing countries worldwide 2021
  • 5. Description: In fiscal year 2019, the road transport passengers amounted to around 22.6 trillion passengers per kilometer across India. The road network across the south Asian country was the second largest in the world. India`s automotive market was dominated by two-wheelers and passenger vehicles. Two-wheeler sales in recent years had a share of over 80 percent. Read more Note(s): India; FY 2001 to FY 2019 Source(s): Ministry of Road Transport and Highways (India) Pasenger movement in billion passengers per kilometer FY 2001FY 2002FY 2003FY 2004FY 2005FY 2006FY 2007FY 2008FY 2009FY 2010FY 2011FY 2012FY 2013FY 2014FY 2015FY 2016FY 2017FY 2018FY 2019 0 5,000 10,000 15,000 20,000 25,000 2,076 2,413 2,815 3,070 3,469 4,252 4,657 5,482 6,182 7,192 8,409 9,478 10,469 11,742 13,393 15,428 17,832 20,237 22,582 4 Passenger movement by road in India from financial year 2001 to 2019 (in billion passengers per kilometer) Number of road transport passengers in India FY 2001-2019
  • 6. Description: The number of registered vehicles across India was around 295 million in fiscal year 2019. Vehicle registrations grew at a compound annual growth rate of over ten percent between fiscal years 2007 and 2019. The south Asian country's transport sector accounted for a 4.85 percent share of the GVA with road transport accounting for over three percent of it. The GVA from railways was about 0.7 percent and air transport accounted for about 0.16 percent during the same time period. Read more Note(s): India; FY 1951 to FY 2019 Source(s): Ministry of Road Transport and Highways (India) Number of vehicles in millions FY 1951 FY 1961 FY 1971 FY 1981 FY 1991 FY 2001 FY 2002 FY 2003 FY 2004 FY 2005 FY 2006 FY 2007 FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 0 50 100 150 200 250 300 350 0.3 0.7 1.9 5.4 21.4 55 58.9 67 72.7 81.5 89.6 96.7 105.4 115 127.7 141.9 159.5 176 190.7 210 230 253.3 272.6 295.8 5 Number of registered vehicles across India from financial year 1951 to 2019 (in millions) Number of registered vehicles in India FY 1951-2019
  • 7. Description: The Indian automotive sector employed over 1.36 million people in fiscal year 2018. The employment figures were relatively small compared to the EU automotive industry that employed around 2.7 million personnel. In the United States, part dealers and motor vehicle sector had around 2.8 million employees on their payrolls in 2021. Even then, India had one of the largest global automotive markets in 2019. The sector however, started facing the effects of a slowdown in terms of sales [...] Read more Note(s): India; FY 2013 to FY 2018 Source(s): Ministry of Road Transport and Highways (India) Employment in thousands FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 0 200 400 600 800 1,000 1,200 1,400 1,600 1,058.5 1,076.38 1,195.32 1,241.52 1,303.58 1,365.44 6 Employment in the automotive sector across India from financial year 2013 to 2018 (in 1,000s) Automotive sector employment India FY 2013-2018
  • 8. Description: In fiscal year 2021, the market size for auto components in the country accounted for approximately 45.6 billion U.S. dollars, down from about 56.5 billion U.S. dollars in fiscal year 2019. With the market push for electric vehicles, a number of automotive component industries planned to manufacture lithium-ion batteries in the future. Read more Note(s): India; FY 2016 to FY 2021 Source(s): Automotive Component Manufacturers Association of India; India Brand Equity Foundation Market size in billion U.S. dollars FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 0 10 20 30 40 50 60 39.05 43.55 51.2 56.52 49.3 45.9 7 Size of automotive component market across India from financial year 2016 to 2021 (in billion U.S. dollars) Automotive components market size in India FY 2016-2021
  • 9. Description: The tax revenue from road transportation across India for the central government had amounted to approximately 1.2 trillion Indian rupees in fiscal year 2019. High speed diesel were the highest taxed products across the south Asian country. Despite the introduction of the Goods and Services Tax in 2017, road tax continued to be paid over and above it. Read more Note(s): India; FY 2010 to FY 2019 Source(s): Ministry of Road Transport and Highways (India); Website (Central Excise and Customs) Revenue tax in trillion Indian rupees FY 2010 FY 2011 FY 2012 FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 0.0 0.5 1.0 1.5 2.0 2.5 3.0 0.48 0.75 0.76 0.91 0.89 1.1 2 2.8 1.81 1.21 8 Value of Indian central government road transport tax revenue from financial year 2010 to 2019 (in trillion Indian rupees) Indian central government road transport tax revenue FY 2010-2019
  • 11. Description: In fiscal year 2022, over 577 thousand passenger cars were exported from India. It took around seven years for the Indian passenger vehicle market to make the jump in production volume from three million to four million. In 2022, over three million passenger vehicles produced were sold domestically. Maruti Suzuki, the country`s biggest car manufacturer, had the leading share in sales volume of passenger cars in 2021. Read more Note(s): India; FY 2015 to FY 2022 Source(s): SIAM India Passenger car exports in thousands FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 0 100 200 300 400 500 600 700 800 621.34 653.05 758.73 748.37 676.19 662.12 404.4 577.88 10 Export volume of passenger vehicles from India from financial year 2015 to 2022 (in 1,000s) Export volume of passenger vehicles from India FY 2015-2022
  • 12. Description: Around 92 thousand commercial vehicles were exported from India in fiscal year 2022. The Indian automobile industry became the fourth largest in the world in 2017. Two-wheelers accounted for share of about 81 percent in the domestic industry in financial year 2021. Read more Note(s): India; FY 2015 to FY 2022 Source(s): SIAM India Commercial vehicle exports in thousands FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 0 20 40 60 80 100 120 86.94 103.12 108.27 96.87 99.93 60.38 50.33 92.3 11 Export volume of commercial vehicles from India between financial year 2015 and 2022 (in 1,000s) Export volume of commercial vehicles India FY 2015-2022
  • 13. Description: Over 4.4 million units of two-wheelers were exported from India in fiscal year 2022. The south Asian country was the largest manufacturer of two-wheelers across the globe. The export volume saw decrease for two consecutive years in financial year 2020 and 2021, mostly due to the impact of coronavirus pandemic. Read more Note(s): India; FY 2015 to FY 2022 Source(s): SIAM India Exports in thousand units FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 0 500 1,000 1,500 2,000 2,500 3,000 3,500 4,000 4,500 5,000 2,457.47 2,482.88 2,340.28 2,815 3,280.84 3,519.41 3,282.79 4,443.02 12 Export volume of two-wheelers from India between financial year 2015 and 2022 (in 1,000s) Export volume of two-wheelers India FY 2015-2022
  • 14. Description: Around 500 thousand three-wheelers were exported from India at the end of fiscal year 2022. India`s automotive market was dominated by two-wheelers and passenger vehicles. Two-wheeler sales on the other hand had a share of over 81 percent. The export volume saw decrease for two consecutive years, mostly due to the impact of coronavirus pandemic. Read more Note(s): India; FY 2015 to FY 2022 Source(s): SIAM India Export volume in thousands FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 0 100 200 300 400 500 600 407.6 404.44 271.89 381 567.68 502.65 392.94 499.73 13 Export volume of three-wheelers from India between financial year 2015 to 2022 (in 1,000s) Three-wheeler export volume India FY 2015-2022
  • 15. Description: In financial year 2021, India's automotive parts exports valued around 13.3 billion U.S. dollars. This was a slight decrease compared to the previous year. Around 32 percent of these exports went to each Europe and North America. Read more Note(s): India; FY 2009 to FY 2021 Source(s): Automotive Component Manufacturers Association of India; India Brand Equity Foundation Exports in billion U.S. dollars FY 2009 FY 2010 FY 2011 FY 2012 FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 0 2 4 6 8 10 12 14 16 5.1 3.99 6.65 8.91 9.68 10.16 11.21 10.83 10.9 13.5 15.17 14.5 13.3 14 Value of automotive parts exports from India between financial year 2009 to 2021 (in billion U.S. dollars) Value of automotive parts exports India FY 2009-2021
  • 17. Description: India was one of the leading countries in the world in terms of vehicle production. In financial year 2022, the total production volume of vehicles in India was around 22.9 million units, which was an increase from the previous year. In 2020, the production value contracted the first time during the presented period. This was partially due to the introduction of the new Bharat Stage VI (BS-VI) emissions standards from April 1, 2020, and overall scaled down production to lower stock of the [...] Read more Note(s): India; FY 2011 to FY 2022; Values have been rounded for clarity Source(s): SIAM India Production volume in millions FY 2011 FY 2012 FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 0 5 10 15 20 25 30 35 Two wheelers Three wheelers Passenger vehicles Commercial vehicles 16 Production volume of vehicles across India from financial year 2011 to 2022, by segment (in millions) Production volume of vehicles India FY 2011-2022, by segment
  • 18. Description: At the end of fiscal year 2022, around 3.7 million passenger vehicles were produced across India. The automobile industry within the country witnessed a slowdown due to an economic slump and the impact of the coronavirus pandemic in financial year 2020 and 2021. Rising congestion and the push from the government to switch to electric vehicles could also be a reason for the decline in growth. However, between fiscal years 2007 and 2017, the compound annual growth rate of registered [...] Read more Note(s): India; FY 2014 to FY 2022 Source(s): SIAM India Production volume in thousands FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 0.0 0.5 1.0 1.5 2.0 2.5 3.0 3.5 4.0 4.5 3.09 3.22 3.47 3.8 4.02 4.03 3.42 3.06 3.65 17 Production volume of passenger vehicles in India from financial year 2014 to 2022 (in millions) Passenger vehicles production volume India FY 2014-2022
  • 19. Description: In fiscal year 2020, the production volume of medium and heavy commercial vehicles across India was around 234 thousand units. In fiscal year 2019, the Indian commercial vehicle industry recorded an all time high with a sales volume of over a million units. The decrease was mainly due to the impact of the coronavirus pandemic. Read more Note(s): India; FY 2008 to FY 2020 Source(s): Ministry of Road Transport and Highways (India); SIAM India Production volume in thousands FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 0 50 100 150 200 250 300 350 400 450 500 294.96 192.28 250.13 344.54 384.8 278.56 221.56 268.55 341.29 342.76 344.59 444.36 233.98 18 Production volume of medium and heavy commercial vehicles across India from financial year 2008 to 2020 (in 1,000s) Production volume of M&HCV in India FY 2008-2020
  • 20. Description: Two-wheeler production volume stood at around 18 million across India at the end of fiscal year 2022. Two-wheelers accounted for a share of around 80 percent of total automobile produced across the south Asian country in the same year. The production volume saw decrease for three consecutive years, mostly due to the impact of coronavirus pandemic. Read more Note(s): India; FY 2008 to FY 2022 Source(s): SIAM India Production volume in millions FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 0 5 10 15 20 25 30 8.03 8.42 10.51 13.38 15.43 15.72 16.88 18.49 18.83 19.93 23.15 24.5 21.03 19.35 17.7 19 Production volume of two wheelers across India from financial year 2008 to 2022 (in millions) Production volume of two wheelers India FY 2008-2022
  • 21. Description: Three-wheeler production volume stood at over 758 thousand units across India at the end of the fiscal year 2022. The transport sector across the south Asian country was ranked third in 2017 in terms of employment opportunities, after textiles and apparel and food processing industries. Read more Note(s): India; FY 2008 to FY 2022 Source(s): SIAM India Production volume in thousands FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 0 200 400 600 800 1,000 1,200 1,400 500.66 497.02 619.19 799.55 879.29 839.74 830.11 949.02 934.1 783.72 1,022.18 1,268.83 1,132.98 614.62 758.09 20 Production volume of three wheelers across India from financial year 2008 to 2022 (in 1,000s) Production volume of three wheelers India FY 2008-2022
  • 23. Description: Passenger vehicle sales in India saw an increase of 14 percent in financial year 2022, with leading manufacturers having to reduce output in order to prevent inventory overloads. In fiscal year 2022, there were around 2.72 million passenger cars sold across the south Asian country. However, in financial year 2021 the economic slowdown in the nation had affected the industry. Read more Note(s): India; FY 2014 to FY 2022 Source(s): Auto Punditz; Website (team-bhp.com) Sales volume in millions FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 0.0 0.5 1.0 1.5 2.0 2.5 3.0 3.5 4.0 2.5 2.6 2.79 3.05 3.29 3.38 2.77 2.39 2.72 22 Sales volume of passenger vehicles across India from financial year 2014 to 2022 (in millions) Passenger vehicles sales volume India FY 2014-2022
  • 24. Description: In financial year 2022, around 716 thousand units of commercial vehicles were sold across India. It was the lowest since 2012. Tata Motors dominated the market with a share of over 37 percent. The overall economic slowdown due to the impact of coronavirus (COVID-19), transition to BS-VI emission standards, and revised axle load norms were some of the contributing factors for the two consecutive years` decline of sales volume in this sector. Read more Note(s): India; FY 2012 to FY 2022 Source(s): SIAM India Sales volume in thousands FY 2012 FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 0 200 400 600 800 1,000 1,200 809 793 633 615 686 714.08 856.92 1,007.31 717.6 568.56 716.57 23 Sales volume of commercial vehicles across India from financial year 2012 to 2022 (in 1,000s) Commercial vehicles sales volume India FY 2012-2022
  • 25. Description: In financial year 2022, two-wheeler sales in India saw a decrease from the previous years to 13.47 million units. The sales reached an all-time high as of 2019, when India's auto industry sold some 21 million units. This figure is almost double the 2011 sales, when just 11.77 million two-wheeler units were sold in India. Read more Note(s): India; FY 2011 to FY 2022 Source(s): SIAM India Vehicle sales in million units FY 2011 FY 2012 FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 0 5 10 15 20 25 11.77 13.41 13.8 14.81 15.98 16.46 17.59 20.2 21.18 17.42 15.12 13.47 24 Two-wheeler domestic sales in India from from financial year 2011 to 2022 (in million units) Two-wheeler domestic sales in India FY 2011-2022
  • 26. Description: Over 260 thousand three-wheelers were sold across India at the end of financial year 2022. The lowest volume was in the financial year 2021 since financial year 2004. The south Asian country was the largest worldwide market for thee-wheeler production and sales. India`s automotive market was dominated by two-wheelers and passenger vehicles. Read more Note(s): India; FY 2015 to FY 2022 Source(s): SIAM India Number of units in thousands FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 0 100 200 300 400 500 600 700 800 532.63 538.21 511.88 635.6 701.01 637.07 219.45 261 25 Domestic sales volume of three-wheelers across India from financial year 2015 to 2022 (in 1,000s) Three-wheelers domestic sales volume in India FY 2015-2022
  • 27. Description: Among passenger vehicles, Maruti Suzuki, followed by Hyundai, had the largest share of the market in financial year 2021. Maruti Suzuki`s best-selling models include the Swift, Dzire, Wagon and the Baleno. Maruti also sold around19 thousand Swift cars in February 2022. In 2020, Maruti Suzuki reported domestic sales of 1.46 million units in India. Read more Note(s): India; as of February 2022 Source(s): Auto Punditz; Website (team-bhp.com) Swift (Maruti) Dzire (Maruti) Wagon R (Maruti) Baleno (Maruti) Nexon (Tata) Ertiga (Maruti) Alto (Maruti) Bolero (Marhindra) Venue (Hyundai) Celerio (Maruti) 19,202 17,438 14,669 12,570 12,259 11,649 11,551 11,045 10,212 9,896 Car sales in units 26 Best-selling cars across India as of February 2022, based on unit sales Top selling cars in India in 2022, by unit sales
  • 29. Description: Maruti Suzuki had the leading share in the passenger car market across India in fiscal year 2022 with nearly 42 percent. The top three players held approximately 75 percent of the market share. This was predominantly due to brand loyalty and new launches. Read more Note(s): India; FY 2022 Source(s): Auto Punditz; Website (team-bhp.com) 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% Maruti Suzuki Hyundai Tata Mahindra Kia Toyota Renault Honda Volkswagen MG Nissan Ford Mercedes-Benz Fiat 42.75% 16.24% 11.45% 6.86% 5.71% 4.05% 3.08% 2.86% 1.87% 1.3% 1.24% 0.78% 0.4% 0.39% Market share 28 Passenger car market share across India in financial year 2022, by vendor Passenger car market share India FY 2022, by vendor
  • 30. Description: In financial year 2022, Tata Motors dominated the domestic commercial vehicle market across India with a share of over 42 percent. In that year, the company had a sales volume of around 275 thousand units. Commercial vehicles sales had been on an inline across the south Asian country for a few years. From mid-2019 however, the automotive industry`s slowdown has affected the sales and production alike. Read more Note(s): India; FY 2021 and FY 2022 Source(s): Auto Punditz; Website (team-bhp.com) 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% Tata Motors Mahindra & Mahindra Ashok Leyland VECV Maruti Suzuki India Force Motors SML Isuzu Daimler India Commercal Vehicle 42.23% 21.77% 14.2% 6.17% 5.9% 1.23% 0.9% 1.98% 36.31% 28.71% 12.94% 5.2% 5.44% 0.92% 0.79% 1.75% FY 2022 FY 2021 Market share 29 Market share of commercial vehicles across India in financial year 2021 and 2022, by manufacturer Commercial vehicle market share India FY 2021-2022, by manufacturer
  • 31. Description: In the financial year 2022, Hero MotoCorp was the leading two-wheeler manufacturer in India, with a market share of 34 percent. The volume of two-wheelers sold across India during the same period reached 12 million units, which was a decrease from the previous year`s 17.42 million units. Read more Note(s): India; FY 2022 Source(s): Auto Punditz; Website (team-bhp.com) 0% 5% 10% 15% 20% 25% 30% 35% 40% Hero MotoCorp Honda Motorcycles & Scooters TVS Bajaj Auto Suzuki Motorcycle Royal Enfield India Yamaha Motor Hero Electric Vehicles Okinawa Autotech Piaggio 34.51% 24.83% 15.07% 11.7% 4.04% 3.79% 3.58% 0.55% 0.39% 0.33% Market share 30 Market share of two-wheelers across India in financial year 2022, by leading manufacturer Market share of two-wheelers India FY 2022, by leading manufacturer
  • 32. Description: Bajaj Auto had the leading market share of about 33 percent in the three-wheeler segment across India in fiscal year 2022. The sector was also affected by the onslaught of the coronavirus (COVID-19) and witnessed a drop in growth during the measured time period. Read more Note(s): India; FY 2022 Source(s): Auto Punditz; Website (team-bhp.com) 0% 5% 10% 15% 20% 25% 30% 35% 40% Bajaj Auto Piaggio YC Electric Vehicle Mahindra and Mahindra Atul Auto Saera Auto Electric Auto Mahindra Reva Electric Vehicles TVS Motor 34.97% 11.23% 4.39% 3.79% 3.42% 2.18% 2.07% 2.01% Market share 31 Market share in the three-wheeler sector across India in financial year 2022, by company Domestic three-wheeler market share India FY 2022, by company
  • 33. Description: In 2021, more than 183 thousand units of Maruti Suzuki's Wagon R were sold across India. The four door hatchback was the best selling car among all passenger vehicles. In 2021, more than three million passenger vehicles have been sold in India. Read more Note(s): India; 2021 Source(s): Auto Punditz 0 20 40 60 80 100 120 140 160 180 200 Wagon R Swift Baleno Alto Ertiga+XL6 Dzire Vitra Brezza Ecco S-Presso Celerio Ignis 183.85 175.02 172.24 166.23 154.31 116.22 115.96 114.52 65.48 32.85 32.74 Number of vehicles sold in thousands 32 Sales volume of Maruti Suzuki cars across India in 2021, by model (in 1,000s) Sales volume of Maruti Suzuki cars in India 2021, by model
  • 34. Description: In 2021, more than 108 thousand units of Tata Nexon were sold across India. Tata Nexon is a 5 seater SUV which became the best selling model produced by the Indian automobile manufacturer that year. Tata Motors was a wholly owned subsidiary of the Indian conglomerate, the Tata Group. In that year, the company sold more than 330 thousand vehicles. Read more Note(s): India; 2021 Source(s): Rush Lane 0 20 40 60 80 100 120 Nexon Altroz Tiago Harrier Punch Tigor Safari 108.58 69.74 64.94 28.04 22.57 18.9 18.36 Number of vehicles sold in thousands 33 Sales volume of Tata cars across India in 2021, by model (in 1,000s) Sales volume of Tata cars in India 2021, by model
  • 35. Description: In 2021, approximately 65 thousand units of Mahindra Balero were sold across India. The overall sales volume of the company was more than 200 thousand units the same year. The previous year, the manufacturer recorded a huge decrease in sales volume due to the impact of the coronavirus pandemic. Read more Note(s): India; 2021 Source(s): Website (gaadiwaadi.com) 0 10,000 20,000 30,000 40,000 50,000 60,000 70,000 Bolero XUV 300 Scorpio Thar XUV 700 XUV 500 Marazzo Alturas G4 KUV Verito 65,313 47,432 36,945 32,139 11,964 5,321 1,816 419 75 23 Number of vehicles sold 34 Sales volume of Mahindra cars across India in 2021, by model Sales volume of Mahindra cars in India 2021, by model
  • 36. Sources 35 Auto Punditz Automotive Component Manufacturers Association of India India Brand Equity Foundation Ministry of Road Transport and Highways (India) OICA Rush Lane SIAM India Website (Central Excise and Customs) Website (Directorate of Data Management, Central Excise and Customs) Website (gaadiwaadi.com) Website (team-bhp.com)