Today, we are living in a world full of automobiles ranging from cars, trucks, busses up to heavy duty trolleys. It all started back in 1885, when Karl Benz invented the motorized vehicle. Today, the automobile has changed drastically. It has more horsepower, more safety and more fuel efficiency. Now, automakers are involved in developing more innovative and attractive designs of cars. At the last count, there were 1.15 billion automobiles in use in the world. At the last accord, it was projected that 17.5 million vehicles are sold each year, gathering a whopping US$ 105 billion annually. Here is a look at the top 10 car companies in the world.
- Tesla, Inc.
Tesla, Inc. is an American electric vehicle and clean energy company from California. They not only produce cars but also battery energy storage, solar panels and solar roof tiles. The company was created by a group of people, all engineers, that wanted to make the best electric cars. It primarily focused on moving away from fossil fuels. Net revenue of this company is about US$ 24.5 billion. Elon Musk is one of the most well-known CEOs of the company. His net worth was US$ 20.8 billion in 2018, snagging him a spot on the richest people list. One of his intriguing marketing strategy that he did was he launched a car into space with a dummy sitting in it. In the year 2016, the Model three was introduced which is a high-volume electric vehicle that isn’t as expensive as other companies and it was much appreciated by the customers.
- Nissan Motor Company
Nissan Motor Company is a Japanese multinational automobile manufacturer headquartered in Japan. Their net revenue was US$ 90.8 billion. The company was born as the result of a slow merging of many small-scale automakers. During the Second World War, Nissan was forced to switch its primary focus from everyday use vehicles to build engines for aircrafts and boats as well as army vehicles. Later, as the company grew, they added a department for independent shipbuilding. Recently, they owned 43.4% share of Renault. In 2010, Nissan developed the first car to run solely on electricity for mass production. In 2016, Nissan was responsible for 275,000 all electric vehicles.
- Fiat Chrysler Automobiles
Fiat Chrysler Automobiles is an Italian multinational corporation which made a net revenue of US$ 108 billion whose headquarter is located in the UK and Netherlands. It continues to grow, becoming one of the best-known brands in the United Kingdom as well as other countries. It was one of the most valuable car companies in the world in 2018. Fiat and Chrysler merged in 2014. Fiat also produced one of the smallest cars in the world, coming measuring at 127 inches in length.
Bayerische Motoren Werke AG, commonly referred to as BMW is a German multinational company which produces luxury vehicles like BMW. Their company started from the year 1916. They are headquartered in Munich, Germany. Their annual revenue was US$ 126.6 billion. The company has significant motorsport history, especially in touring cars and Formula 1. In 2017 alone, the company sold over two million automobiles. They have factories in 14 countries. They are always looking towards the ecological future and sustainability of their products. This is their main goal.
- General Motors
General Motors Company (GM) is an American multinational corporation headquartered in Detroit. Last year its revenue was US$ 137.2 billion. Its main business focuses around designs, manufacturing, marketing and distributing vehicles and vehicle parts. Its four core automobile brands include Chevrolet, Buick, GMC and Cadillac. The Chevrolet Bolt EV got the prize for motor trend Car of the year in 2017. General Motors was founded in 1908 by the owner of Buick Williams. General Motors has over 12,000 dealers selling in over 125 countries. The crash test dummies designed by General Motors are of global standard especially for front crash tests. GM was also the first manufacturer in North America to build a test facility just to test rollovers. In 2016, Chevrolet was voted for the Green Car of the Year award.
- Honda Motor Company
In 1949, this giant automaker was established in Japan. They are primarily known as a manufacturer of automobiles, motorcycles, and power equipment. Honda has been the world’s largest motorcycle manufacturer since 1959. In 2015, Honda was the eighth largest automobile manufacturer in the world. Its net revenue was US$ 147.4 billion. They even became more famous after they got featured in the Fast and Furious franchise. It’s worth noting that the first foreign car produced in the U. S. was the Honda Accord. Interestingly, all seven continents on this planet have Honda equipment that is currently running.
- Ford Motor Company
Ford Motor Company is an American multinational automaker which is headquartered in Michigan, U.S. It was founded by Henry Ford in 1903. This automaker has been around for 100 years. Henry Ford had a vision for the best car in the world. He built his first vehicle at the Edison Illumination Company which was called the Quadra Cycle. Ford is the second largest car manufacturer in the United States with a revenue of US$ 155.9 billion. It is the second largest family owned company in the world. The Ford Mustang was introduced in 1964 and almost 100,000 toy versions of the car were purchased for children that year. The Ford F series has been ranked the number one car sold in America for many years.
- Daimler AG
Daimler AG is a German multinational automotive corporation headquartered in Stuttgart, Germany. It started its operation in 1926. Main brand of this company is Mercedes. These luxury cars have been driven by the elite all over the world. People such as Elizabeth Taylor, Coco Chanel, John Lennon and many more. It is one of the world’s leading car and truck manufacturers. In 2019, Daimler sold 3.3 million vehicles. Net revenue for the financial year 2019 was US$ 210.1 billion. Their main focus is shaping the future of mobility.
- Toyota Motor Corporation
Toyota Motor Corporation is a Japanese multinational automotive manufacturer headquartered in Aichi, Japan and was founded by Kiichiro Toyoda in 1937. Toyota is the largest automobile manufacturer in Japan. Since 2012, Toyota is the world’s first automobile manufacturer to produce more than 10 million vehicles per year. Main brands under it are Toyota, Hino, Lexus, Ranz, and Daihatsu. Net revenue for the year 2020 was US$ 275.4 billion. Toyota has won more awards than any other car manufacturer, especially for safety and vehicle dependability. They’ve also received an award for being the vehicle to last the longest. Toyota came to America in 1957 and has created over 300,000 jobs in the United States alone.
- Volkswagen Group
Volkswagen Group headquartered in Wolfsburg, Germany is a German automaker founded in 1937 by the German Labor Front. It has maintained the largest market share in Europe for over two decades. Its annual revenue was US$ 282.9 billion. In 2017, it sold an astounding 10 million vehicles. One of the main reasons for its huge amount of sales especially in the US is due to its extensive usage in the pop culture.
With an economy fluctuating worldwide, there will always be a demand for new, innovative and faster modes of transportation. Many companies are looking toward the future and creating innovative designs with electric cars. So, this concludes our list of top 10 car companies in the world. I hope you found the article interesting and fascinating. Thank you.