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Uzone.id – Automotive companies or car manufacturers are one of the largest industries in the world if you look at the revenue they generate. These automotive companies do many things, in terms of design, development, production, marketing, and car sales.
Because of the size of the automotive industry, car sales in the world may even increase after the pandemic takes place.
“Global motor vehicle production increased by about 10.3 percent between 2022 and 2023, showing signs of recovery after the COVID-19 pandemic severely disrupted the automotive industry. Further, global motor vehicle production output surpassed pre-pandemic values,” Statista reported.
Here are the top 10 car companies in the world:
1. Volkswagen Motors
Volkswagen AG is widely known internationally as the ‘Volkswagen Group’ which is a very large German car manufacturer. This brand is headquartered in Wolfsburg, Lower Saxony, Germany, and was founded in 1937.
This brand is immediately known throughout the world for its iconic product, the Beetle. This brand experienced a very drastic increase in 1950-1960.
Interestingly, many people don’t know that the Volkswagen Group also houses several other car brands such as Audi, Porsche, Bentley, Cupra, SEAT, and Volkswagen itself. This German brand also sells motorbikes from Italy, namely Ducati, and trucks under the name Volkswagen Commercial Vehicle.
On the other hand, there are SAIC Volkswagen and FAW-Volkswagen, which are two Volkswagen joint ventures in China. Their business operates in around 150 countries and has 100 production facilities in 27 countries with revenues approaching US$302 billion.
2. Toyota Motor Corp
Who doesn’t know this brand? Toyota is one of the main car brands in the world and was founded on August 28, 1937, by Kiichiro Toyoda. Currently, its head office is in Toyota City, Aichi, Japan. It has produced several well-known cars such as the Corolla and Camry.
With its production facilities, Toyota can produce around 10 million cars every year worldwide. Taking advantage of Japan’s booming economy, Toyota sold these cars to the burgeoning middle class in the 1960s.
This global expansion has enabled Toyota to become one of the largest car manufacturers in Japan, and in the world and even become the ninth-largest company in 2020. Today the company has generated revenues approaching $245 billion.
3. Mercedes-Benz Group AG
Previously known as Daimler AG, this has now changed to Mercedes-Benz Group AG. This German automotive company includes several brands such as Smart and Mercedes-Benz for cars and vans, as well as Mercedes-AMG and Mercedes-Maybach. Don’t forget other brands under the Mercedes-Benz Group such as Aston Martin, Denza, Daimler Truck, BAIC Motor, and Denza.
Mercedes-Benz Group AG itself was founded in Stuttgart, Germany in 1886. The company’s performance has been very good since it first started business until now in the era of electric vehicles. Currently, there are at least 130,000 Smart electric cars sold worldwide.
Apart from that, Mercedes-Benz is also developing advanced technologies such as automatic driving systems and autonomous cars. By value, the luxury car company already generates revenues of close to US$174 billion.
4. Ford Motors
The American car company, Ford Motor Corp, was founded in Delaware in 1919. Their business began by acquiring the Ford Motor Company, a Michigan company founded in 1903 by Henry Ford. As a global automaker, Ford Motor has 200,000 employees worldwide producing a variety of cars, trucks, and electric vehicles.
Currently, Ford Motors has two car brands, namely Ford itself and Lincoln. These companies have launched famous models such as the F-150, Eco-Sport, Focus Electric, Fiesta, and Expedition. So far the American company continues to be one of the top car manufacturers in the world with revenues of nearly US$135 billion.
5. General Motors Corporation
General Motors Corporation (GM) is also an American manufacturing company headquartered in Detroit, Michigan. This multinational car company has 180,000 employees spread across more than 70 countries.
The products sold include electric cars to large trucks with powerful engines. GM recently created the Chevrolet Bolt EV, an affordable electric car that can travel up to 230 miles on a single charge.
In addition to producing cars, companies around the world now use GM test dummies for front-end safety testing. GM also became the first American manufacturer to build a rollover test facility. It’s no surprise that the company already generates revenues approaching US$130 billion.
6. BMW Group
Just like Mercedes-Benz, Bayerische Motoren Werke AG aka BMW Group is a luxury car and large motorbike manufacturer from Germany. This company is based in Munich, Bavaria, Germany, and was founded in 1916. Over time, this brand became famous and became a global company that has more than 30 production and assembly facilities in various countries.
The BMW Group also oversees several other premium brands, including Mini, Mini John Cooper Works, BMW M, and Rolls-Royce Motor Cars. BMW has seen significant growth in electric vehicles during 2021 and 2022. With its performance, the company has generated revenues approaching US$128 billion.
7. Honda Motor Co., Ltd.,
Honda Motor Co., Ltd., is also a Japanese brand that is known throughout the world. Headquartered in Minato, Tokyo, Japan, this brand not only produces cars but also motorbikes and electrical equipment. Honda has 89 manufacturing facilities located in 33 different countries with sales in 140 countries.
There are two popular models introduced by Honda, namely the Accord and Civic, which have succeeded in dominating the North American market with large sales. With these popular models, Honda will become one of the top car manufacturers in 2022. No wonder this car brand has generated revenues approaching US$123 billion.
8. SAIC Motors
SAIC Motor Corp., Ltd. formerly known as Shanghai Automotive Industry Corporation. This Chinese-owned car manufacturer is headquartered in Anting, Shanghai, and was founded in 1955. Currently, SAIC is one of the big four car manufacturers in China, consisting of SAIC Motors, FAW Group, Dongfeng Motor Group, and Changan Automobile.
In 2021, each company sold almost 15 million vehicles. As mentioned earlier, the company operates as a joint venture with foreign brands such as SAIC-Volkswagen & SAIC-General Automotive. Together with VW, SAIC has sold more than 2 million cars in China. The company has generated nearly US$107 billion in revenue.
9. Hyundai Motor Group
Hyundai Motor Corp is a major player in the South Korean automotive industry, headquartered in Seoul. Hyundai produces vehicles with advanced technology that guarantees high levels of performance such as sedans, SUVs, and hatchbacks. This Korean company has made rapid progress since it was founded in 1967.
Hyundai started exporting in 1983 and quickly rose to the top of sales due to its price. The Hyundai Excel was also exported in 1985 to the United States which led to this company buying Kia Motors. With its many achievements, Hyundai has generated revenues of US$98 billion.
10. Nissan Motor
Nissan Motor Co., Ltd., is also a global company from Japan. Headquartered in Nishi-Ku, Yokohama, Japan, this company produces Nissan, Infiniti and Datsun brand cars. There are several trademarks such as Nismo which also fly under the Nissan Motor banner.
Not only producing cars, Nissan Motor also sells and produces various types of vehicles including trucks and buses. The company has customers in more than 160 different countries with 20 manufacturing facilities spread across the world.
Nissan Motor is working on several well-known products such as the Nissan Leaf as an electric vehicle. Meanwhile, Nismo is a brand that prioritizes performance with an efficient combustion engine. Nissan is currently focusing on developing zero-emission vehicles. With strategy and the formation of strategic alliances, Nissan has generated revenues of US$70 billion.
“During the COVID-19 pandemic, automakers had to wrestle with various factors, including the chip shortage and rising energy costs. But now, as the pandemic recedes and the industry looks a bit more normal, there will be increased focus on megatrends,” said Ryan Brinkman, Head of the U.S. Autos & Auto Parts research team at J.P. Morgan.
