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The automobile industry is experiencing steady growth on a global scale, with an expected CAGR of nearly 5% over the next four years. Driven by innovation in technology, vehicle design, and recent trends like the popularity of connected cars, many established automobile manufacturers are successfully keeping up with new developments to cater to changing consumer expectations. Here are some of the world’s leading automobile manufacturers that are currently dominating the market:
1. Volkswagen AG: Founded in Berlin, Germany, Volkswagen is the largest automaker in the world. It provides its products under the Volkswagen Passenger Cars, Audi, ŠKODA, SEAT, Bentley, Porsche, Volkswagen Commercial Vehicles, Lamborghini, Bugatti, Ducati, Scania, and MAN brand names. The company is headquartered in Wolfsberg, Germany, and was founded in 1937.
2. Toyota: Headquartered in Toyota, Aichi, Japan, and founded in 1937, Toyota is the ninth-largest company in the world by revenue. It is also the world’s market leader in sales of hybrid electric automobiles. Its Prius line is currently the top selling hybrid automobile brand in the world with over 6 million units sold as of the beginning of 2017.
3. Nissan: Headquartered in Yokohama, Kanagawa Prefecture, Japan, Nissan had a production output of 5,556,241 in 2016. Nissan is the world’s largest manufacturer of electric vehicles. Its top-selling vehicle is the Nissan Leaf, a plug-in all-electric car.
4. Daimler AG: The company owns or has shares in many automobile brands, including Mercedes-Benz, Smart Automobile, Detroit Diesel, BharatBenz, and Mitsubishi Fuso. Daimler sold more than 3 million automobiles in 2016, and is the thirteenth-largest car manufacturer in the world.
5. Honda Motor Co.: Honda has been the world’s largest motorcycle manufacturer since roughly 1959, as well as the world’s largest manufacturer of internal combustion engines by volume. Additionally, Honda was the first Japanese automaker to become a net exporter from the United States.
6. Fiat-Chrysler: Established in 2014 by merging Fiat S.p.A into a new company, Fiat Chrysler Automobiles N.V. Fiat-Chrysler’s portfolio includes Alfa Romeo, Fiat Professional, Ram Trucks, Chrysler, Dodge, Jeep, Lanica, and many other recognizable automobile Its production output is approximately 4.2 million units annually.
7. Ford Motor Company: Incorporated in 1903, Ford offers small cars, family cars, SUVs, and more; vans, minibuses, vehicle conversion body equipment, rangers, transit chassis cabs, and more; as well as vehicle hire or rental services. Ford is the second-largest family-owned company in the world. North America is currently its biggest market.
8. BMW: BMW is one of the best-selling luxury auto manufacturers in the world. It produced 2,512,635 units in 2016, and specializes in luxury automobiles, motorcycles, and sports cars. The company is headquartered in Munich, Bavaria, Germany.
9. Hyundai Motor Company: Headquartered in in South Korea, Hyundai operates the world’s largest integrated automobile manufacturing facility with an annual production capacity of 1.6 million units. Hyundai and its subsidiary, Kia, form the Hyundai Motor Group, which is one of the largest vehicle manufacturers in the world.
10. General Motors: GM’s current brands include Buick, Cadillac, Chevrolet, GMC, Holden, and Wuling. The company operates 396 facilities on six different continents, and serves customers worldwide. Its production output in 2015 was 9,958,000 vehicles.