The automotive industry in India is one of the larger markets in the world and had previously been one of the fastest growing globally, but is now seeing flat or negative growth rates. India's passenger car and commercial vehicle manufacturing industry is the sixth largest in the world, with an annual production of more than 3.9 million units in 2011. According to recent reports, India overtook Brazil and became the sixth largest passenger vehicle producer in the world. In 2009, India emerged as Asia's fourth largest exporter of passenger cars, behind Japan, South Korea, and Thailand. In 2010, India beat Thailand to become Asia's third largest exporter of passenger cars. Some of the current Indian car manufacturing companies are Tata Motors, Mahindra and Mahindra, Premier Automobiles Limited, Hindustan Motors Ambassador, Chin Kara Motors, Force Motors, ICML, San Motors. Electric car manufacturers in India include Ajanta Group, Hero Electric, REVA now Mahindra Reva Electric Vehicles, Tara International and Tata Motors. A number of foreign firms also have joint ventures with Indian companies such as the Kirloskar group and Hindustan Motors, Maruti Suzuki to manufacture foreign brand cars for Indian as well as export market. Growth of the sector: India's automobile exports have grown consistently and reached $4.5 billion in 2009, with United Kingdom being India's largest export market followed by Italy, Germany, Netherlands and South Africa. India's automobile exports are expected to cross $12 billion by 2014. According to New York Times, India's strong engineering base and expertise in the manufacturing of low-cost, fuel-efficient cars has resulted in the expansion of manufacturing facilities of several automobile companies like Hyundai, Nissan, Toyota, Volkswagen and Maruti Suzuki. In recent years, India has emerged as a leading center for the manufacture of small cars. Hyundai, the biggest exporter from the country, now ships more than 250,000 cars annually from India.