[Ranking] TOP 25 Passenger Vehicles / Automotive Companies Q3/2023
Intro
The passenger vehicle industry plays a critical role in the worldwide economy, driving economic growth and providing employment opportunities across the globe. As one of the key sub-industries within the broader automotive sector, passenger vehicles have a significant influence on various sectors, including manufacturing, transportation, and retail.
With its vast supply chain and extensive consumer base, the passenger vehicle industry has ripple effects that extend far beyond its immediate boundaries. From the materials used in manufacturing to the services provided by dealerships and maintenance facilities, the industry impacts numerous businesses and industries worldwide.
The economic magnitude of the passenger vehicle industry is undeniable, with billions of dollars generated in revenue each year. Moreover, the industry is on an upward trajectory, fueled by increasing consumer demand, technological advancements, and evolving consumer preferences.
Recent trends in the passenger vehicle industry have shaped its landscape significantly. The rise of electric vehicles, self-driving technology, and the shift towards shared mobility have all played a role in transforming the industry. Additionally, obstacles such as environmental concerns, regulatory changes, and supply chain disruptions have presented challenges that companies within the industry must navigate.
The passenger vehicle industry is ever-evolving, with constant innovation and competition driving its landscape. This dynamic environment sets the context for the exploration of the industry's top companies, who strive to stay at the forefront of advancements and meet the changing needs of consumers.
Ranking
#25 Chery Automobile Co., Ltd.
Employees: 20K
Revenue: 10B$
Website: https://www.cheryinternational.com/
Description: Chery Automobile Co., Ltd., headquartered in Wuhu, China, is a prominent player in the Passenger Vehicles industry. Established in 1997, Chery has grown to become one of China's leading automotive manufacturers. With a workforce of approximately 20,000 employees, the company has achieved significant success in the industry. Chery Automobile Co., Ltd. generates an impressive revenue of 10 billion US dollars. Known for their innovative designs and reliable vehicles, Chery offers a wide range of passenger vehicles that cater to diverse customer preferences. With a commitment to quality and customer satisfaction, Chery continues to expand its presence in the automotive market, both domestically and internationally.
#24 Great Wall Motor Company Limited
Employees: 85K
Revenue: 15B$
Website: https://www.gwm.com.cn/
Description: Great Wall Motor Company Limited, headquartered in Baoding, China, is a prominent player in the Passenger Vehicles industry. Founded in 1984, the company has established itself as a leading automotive manufacturer in China. With approximately 85,000 employees, Great Wall Motor Company Limited is dedicated to designing, developing, manufacturing, and selling a wide range of passenger vehicles. The company's revenue stands at an impressive 15 billion US dollars, reflecting its strong presence and success in the market. Great Wall Motor Company Limited continues to innovate and produce high-quality vehicles, catering to the diverse needs and preferences of customers worldwide.
#23 BYD Company Limited
Employees: 220K
Revenue: 18.7B$
Website: https://www.byd.com
Description: BYD Company Limited, headquartered in Shenzhen, China, is a leading player in the Passenger Vehicles industry. Founded in 1995, BYD has grown to become one of the largest manufacturers of electric vehicles in the world. With a workforce of approximately 220,000 employees, BYD is committed to producing innovative and sustainable transportation solutions. The company's revenue stands at an impressive 18.7 billion US dollars. BYD's focus on electric vehicles has positioned it as a key player in the automotive industry, with a strong emphasis on reducing carbon emissions and promoting clean energy. With its cutting-edge technology and commitment to sustainability, BYD continues to lead the way in the rapidly evolving world of electric passenger vehicles.
#22 Subaru Corporation
Employees: 24K
Revenue: 20B$
Website: https://www.subaru-global.com/
Description: Subaru Corporation, headquartered in Tokyo, Japan, is a prominent player in the Passenger Vehicles industry. Established in 1953, Subaru has been manufacturing and selling a wide range of vehicles globally. With approximately 24,000 employees, the company has achieved significant success in the automotive market. Subaru is known for its innovative approach to automobile engineering, incorporating advanced technologies and safety features in its vehicles. The company has a strong focus on producing reliable and durable passenger vehicles that cater to the needs of a diverse customer base. Subaru's revenue stands at an estimated 20 billion dollars, reflecting its position as a key player in the industry.
#21 Mitsubishi Motors Corporation
Employees: 30K
Revenue: 20B$
Website: https://www.mitsubishi-motors.com/
Description: Mitsubishi Motors Corporation, headquartered in Tokyo, Japan, is a major player in the Passenger Vehicles industry. With a history dating back to 1970, the company has established itself as a leading manufacturer and distributor of automobiles, specializing in passenger vehicles. Mitsubishi Motors offers a diverse range of vehicles, including sedans, SUVs, electric vehicles, and hybrid models. The company is known for its innovative technologies, commitment to sustainability, and emphasis on safety features. With a workforce of approximately 30,000 employees, Mitsubishi Motors generates significant revenue, which amounts to around 20 billion dollars. Through its global presence and continuous focus on customer satisfaction, Mitsubishi Motors remains a prominent force in the automotive industry.
#20 Tata Motors Limited
Employees: 80K
Revenue: 20B$
Website: https://www.tatamotors.com/
Description: Tata Motors Limited, headquartered in Mumbai, India, is a leading automotive company operating in the Passenger Vehicles industry. Founded in 1945, the company has a workforce of approximately 80,000 employees. With an annual revenue of around 20 billion dollars, Tata Motors is a significant player in the global automotive market. The company specializes in manufacturing and selling a wide range of passenger vehicles, including cars, SUVs, and electric vehicles. Tata Motors strives to provide innovative and sustainable mobility solutions to its customers, leveraging advanced technologies and design expertise. Through its strong brand presence and extensive distribution network, Tata Motors continues to make a significant impact in the automotive industry.
#19 Geely Auto Group
Employees: 120K
Revenue: 23B$
Website: https://www.geely.com
Description: Geely Auto Group, headquartered in Hangzhou, China, is a prominent player in the Passenger Vehicles industry. Founded in 1986, the company has grown to become a major force in the automotive market. With approximately 120,000 employees, Geely Auto Group is known for its innovative and high-quality vehicles. The company has achieved impressive revenue of 23 billion dollars, demonstrating its strong market presence. Geely Auto Group focuses on developing and manufacturing passenger vehicles that meet the evolving needs and preferences of consumers. Through its commitment to technological advancements and customer satisfaction, Geely Auto Group continues to make a significant impact in the automotive industry.
#18 Mazda Motor Corporation
Employees: 47K
Revenue: 32.5B$
Website: https://www.mazda.com
Description: Mazda Motor Corporation, headquartered in Hiroshima, Japan, is a leading player in the Passenger Vehicles industry. Founded in 1920, Mazda has a rich history and has established itself as a renowned automotive brand. With approximately 47,000 employees worldwide, Mazda is dedicated to designing, manufacturing, and selling high-quality passenger vehicles that deliver superior performance, stylish design, and advanced technology. The company's revenue stands at an impressive 32.5 billion US dollars, reflecting its success in the market. Mazda continues to innovate in the automotive industry, focusing on sustainable practices and developing vehicles that provide an exhilarating driving experience while minimizing environmental impact.
#17 Geely Automobile Holdings Limited
Employees: 120K
Revenue: 33.9B$
Website: https://www.geely.com
Description: Geely Automobile Holdings Limited is a leading player in the Passenger Vehicles industry, operating primarily in China. Headquartered in Hangzhou, China, Geely was founded in 1986. With a workforce of approximately 120,000 employees, Geely focuses on the design, development, production, and sale of automobiles, including sedans, SUVs, and electric vehicles. The company has a diverse portfolio of brands, including Geely, Lynk & Co, Volvo, and Lotus. Geely has achieved significant success in the Chinese automotive market and has expanded its global presence through strategic acquisitions and partnerships. With annual revenues of 33.9 billion dollars, Geely continues to innovate and enhance its product offerings, contributing to its strong position in the automotive industry.
#16 Suzuki Motor Corporation
Employees: 69K
Revenue: 38B$
Website: https://www.globalsuzuki.com/
Description: Suzuki Motor Corporation, headquartered in Hamamatsu, Japan, is a major player in the Passenger Vehicles industry. Founded in 1909, Suzuki has established itself as a renowned automobile manufacturer with a global presence. The company boasts around 69,000 employees who contribute to its success. With an impressive revenue of 38 billion dollars, Suzuki has cemented its position as one of the key players in the automotive market. Suzuki Motor Corporation excels in producing a wide range of passenger vehicles, offering innovative designs, advanced technologies, and reliable performance. Their commitment to quality and customer satisfaction has earned them a loyal customer base worldwide.
#15 Kia Motors Corporation
Employees: 80K
Revenue: 50B$
Website: https://www.kia.com/
Description: Kia Motors Corporation, headquartered in Seoul, South Korea, is a leading player in the Passenger Vehicles industry. With a history dating back to 1944, Kia has established itself as a prominent automotive brand globally. The company employs approximately 80,000 people worldwide, contributing to its success and growth. Kia is known for designing, manufacturing, and selling a diverse range of passenger vehicles, including sedans, SUVs, and electric vehicles. The company's commitment to innovation and quality has enabled it to capture a significant market share and generate substantial revenue. With a revenue of around 50 billion dollars, Kia continues to deliver compelling and reliable vehicles to customers worldwide.
#14 SAIC Motor Corporation Limited
Employees: 200K
Revenue: 50B$
Website: https://www.saicmotor.com
Description: SAIC Motor Corporation Limited, headquartered in Shanghai, China, is a leading player in the Passenger Vehicles industry. Founded in 1955, the company has a workforce of approximately 200,000 employees. With a revenue of 50 billion US dollars, SAIC Motor Corporation Limited has established itself as a key player in the automotive market. The company operates in the automotive industry, specifically focusing on the production and sale of passenger vehicles. SAIC Motor Corporation Limited has a strong presence in both the domestic and international markets, with a wide range of vehicles catering to various customer segments. With its commitment to innovation and quality, SAIC Motor Corporation Limited continues to shape the future of the automotive industry.
#13 Renault Group
Employees: 180K
Revenue: 55B$
Website: https://www.renaultgroup.com
Description: Renault Group, headquartered in Paris, France, is a leading player in the Passenger Vehicles industry. With a rich history dating back to 1899, the company has established itself as a prominent automotive manufacturer. Renault Group employs approximately 180,000 people globally, contributing to its success in delivering innovative and sustainable mobility solutions. The company's revenue reaches an impressive 55 billion US dollars, a testament to its strong market presence. Renault Group is dedicated to designing and producing a wide range of passenger vehicles, catering to diverse customer needs. With its commitment to technological advancements and environmental sustainability, Renault Group continues to shape the future of the automotive industry.
#12 Groupe Renault
Employees: 180K
Revenue: 57.42B$
Website: https://www.renault.com
Description: Groupe Renault, headquartered in Boulogne-Billancourt, France, is a leading player in the automotive industry, specifically in the Passenger Vehicles sector. Founded in 1899, the company has a rich history and extensive expertise in manufacturing automobiles. With around 180,000 employees worldwide, Groupe Renault is committed to delivering innovative and sustainable mobility solutions to customers across the globe. The company operates in various segments, including electric vehicles, commercial vehicles, and performance vehicles, catering to a diverse range of consumer needs. Groupe Renault has achieved significant success in the market, generating an impressive revenue of 57.42 billion dollars. With its strong focus on technological advancements and customer-centric approach, Groupe Renault continues to shape the future of the automotive industry.
#11 Peugeot S.A.
Employees: 210K
Revenue: 74B$
Website: https://www.peugeot.com
Description: Peugeot S.A., headquartered in Paris, France, is a leading player in the Passenger Vehicles industry. With a rich history dating back to 1810, Peugeot has established itself as a prominent automotive manufacturer. The company boasts a workforce of approximately 210,000 employees globally, who contribute to its success. Peugeot S.A. generates impressive revenue of around 74 billion dollars, solidifying its position as a key player in the market. With a strong focus on passenger vehicles, Peugeot designs, manufactures, and markets a wide range of cars, catering to diverse consumer preferences and needs. The company's commitment to innovation, quality, and sustainability has enabled it to maintain a strong market presence and deliver exceptional vehicles to customers worldwide.
#10 Nissan Motor Co., Ltd.
Employees: 138K
Revenue: 85.37B$
Website: https://www.nissan-global.com/
Description: Nissan Motor Co., Ltd. is a Japanese automotive company headquartered in Yokohama, Japan. Founded in 1933, Nissan operates in the Passenger Vehicles industry. With a workforce of approximately 138,000 employees, the company has established itself as a leading player in the automotive sector. Nissan's revenue stands at 85.37 billion USD, reflecting its strong market presence and global reach. The company's commitment to innovation and sustainable mobility solutions has led to the development of popular models like the Nissan Altima, Nissan Rogue, and Nissan Leaf, which is one of the best-selling electric cars in the world. Nissan continues to invest in research and development to shape the future of mobility and deliver high-quality vehicles to customers worldwide.
#9 Hyundai Motor Company
Employees: 100K
Revenue: 97B$
Website: https://www.hyundai.com
Description: Hyundai Motor Company, headquartered in Seoul, South Korea, is a prominent player in the Passenger Vehicles industry. Since its establishment in 1967, Hyundai has grown to become one of the world's largest automotive manufacturers. With a workforce of approximately 100,000 employees, Hyundai is dedicated to designing, manufacturing, and selling a wide range of passenger vehicles, including sedans, SUVs, and electric vehicles. The company's commitment to innovation and sustainability has led to the development of advanced technologies, such as fuel-efficient engines and eco-friendly drivetrains. Hyundai's revenue stands at an impressive 97 billion dollars, reflecting its strong market presence and global success in the automotive sector.
#8 BMW Group
Employees: 135K
Revenue: 104B$
Website: https://www.bmwgroup.com
Description: The BMW Group, headquartered in Munich, Germany, is a leading player in the Passenger Vehicles industry. With a rich history dating back to 1916, the company has established itself as a prominent manufacturer of luxury automobiles and motorcycles. The BMW Group operates globally, with a strong presence in Europe, the Americas, and Asia. Its portfolio includes well-known brands such as BMW, MINI, and Rolls-Royce. The company's commitment to innovation and sustainability is evident in its electric and hybrid vehicle offerings. With approximately 135,000 employees, the BMW Group continues to deliver exceptional vehicles and cutting-edge technology to meet the evolving demands of the automotive market. In 2020, the company reported a revenue of 104 billion USD, solidifying its position among the top players in the industry.
#7 Ford Motor Company
Employees: 190K
Revenue: 127B$
Website: https://www.ford.com
Description: Ford Motor Company is a leading player in the Passenger Vehicles industry. Headquartered in Dearborn, United States, the company has been in operation since 1903. With approximately 190,000 employees, Ford has established itself as a major contributor to the automotive sector. The company generates a substantial revenue of 127 billion dollars, showcasing its significant presence and financial success. Ford is known for manufacturing and selling a wide range of passenger vehicles, including cars, SUVs, trucks, and electric vehicles. With a rich history and a strong global presence, Ford continues to innovate and produce high-quality vehicles that cater to the needs and preferences of customers worldwide.
#6 Fiat Chrysler Automobiles N.V.
Employees: 198K
Revenue: 143B$
Website: https://www.fiatchryslerautomobiles.com/
Description: Fiat Chrysler Automobiles N.V. is a prominent player in the Passenger Vehicles industry. Headquartered in Auburn Hills, United States, the company operates primarily in North America. With a workforce of approximately 198,000 employees, Fiat Chrysler Automobiles designs, manufactures, and sells a wide range of passenger vehicles, including cars, SUVs, and trucks. The company was founded in 2014 and has since established itself as a major player in the automotive industry. Fiat Chrysler Automobiles generates substantial revenue, with reported earnings of 143 billion US dollars. With its innovative designs, commitment to quality, and strong market presence, Fiat Chrysler Automobiles continues to be a leading name in the Passenger Vehicles industry.
#5 Honda Motor Co., Ltd.
Employees: 200K
Revenue: 143B$
Website: https://www.honda.com
Description: Honda Motor Co., Ltd., headquartered in Tokyo, Japan, is a leading player in the Passenger Vehicles industry. Since its founding in 1948, Honda has established itself as a trusted manufacturer of automobiles, motorcycles, and power equipment. With a workforce of approximately 200,000 employees, Honda continues to innovate and deliver high-quality vehicles to customers worldwide. The company's revenue stands at a substantial 143 billion dollars, reflecting its strong market presence and customer demand for its diverse range of vehicles. Honda's commitment to sustainability and technological advancements has positioned it as a key player in the automotive industry.
#4 General Motors Company
Employees: 164K
Revenue: 147.0B$
Website: https://www.gm.com/
Description: General Motors Company, headquartered in Detroit, United States, is a prominent player in the Passenger Vehicles industry. Founded in 1908, the company has a workforce of approximately 164,000 employees. With an annual revenue of 147.0 billion dollars, General Motors is a major contributor to the automotive sector. The company is renowned for manufacturing and distributing a wide range of passenger vehicles, including cars, trucks, and SUVs. General Motors maintains a strong presence in North America and operates globally through various subsidiaries. With its commitment to innovation and customer satisfaction, General Motors continues to shape the future of the automotive industry.
#3 Daimler AG
Employees: 298K
Revenue: 197.5B$
Website: https://www.daimler.com
Description: Daimler AG, headquartered in Stuttgart, Germany, is a leading player in the Passenger Vehicles industry. With a rich history dating back to its founding in 1926, Daimler AG has grown to become one of the largest automotive manufacturers in the world. The company is renowned for its luxury cars, buses, and trucks, offering a wide range of high-quality vehicles to customers globally. Daimler AG's portfolio includes iconic brands such as Mercedes-Benz, AMG, and Smart. With nearly 300,000 employees, Daimler AG continues to innovate and set new standards in the automotive industry. In 2020, the company generated a staggering revenue of 197.5 billion dollars, solidifying its position as a key player in the market.
#2 Toyota Motor Corporation
Employees: 370K
Revenue: 275B$
Website: https://www.toyota-global.com/
Description: Toyota Motor Corporation, headquartered in Toyota City, Japan, is a leading player in the Passenger Vehicles industry. Founded in 1937, the company has a workforce of approximately 370,000 employees. With an annual revenue of 275 billion US dollars, Toyota has established itself as a major force in the automotive sector. The company is renowned for its diverse range of passenger vehicles, including sedans, SUVs, hybrids, and electric vehicles. Toyota's commitment to innovation and sustainability has driven its success, with notable achievements such as the introduction of the Prius, the world's first mass-produced hybrid car. Through continuous research and development, Toyota strives to provide reliable, efficient, and environmentally-friendly vehicles to meet the evolving needs of consumers worldwide.
#1 Volkswagen Group
Employees: 670K
Revenue: 282B$
Website: https://www.volkswagenag.com
Description: Volkswagen Group, headquartered in Wolfsburg, Germany, is a leading player in the Passenger Vehicles industry. Founded in 1937, the company has grown to become one of the largest automotive manufacturers in the world. With an impressive workforce of approximately 670,000 employees, Volkswagen Group operates globally, producing a wide range of passenger vehicles. The company's revenue stands at a staggering 282 billion dollars, a testament to its strong market presence. Volkswagen Group's commitment to innovation and sustainability has contributed to its success, as it continuously strives to develop cutting-edge technologies and environmentally friendly solutions for its vehicles. Through its various brands, including Volkswagen, Audi, Porsche, and more, the group offers high-quality, reliable, and stylish vehicles that cater to diverse consumer preferences.
Summary
The analysis of the sub-industry of Passenger Vehicles within the Automotive sector has revealed some interesting insights. The top companies in this sub-industry have achieved significant accomplishments and have been ranked based on their performance.
One unexpected finding is the rise of electric vehicles in this sub-industry. Companies that have embraced electric vehicles and invested in their development have gained a competitive edge.
Among the premier companies in the Passenger Vehicles sub-industry are well-known automakers such as Toyota, Volkswagen, General Motors, and Ford. These companies have a long history and a strong presence in the global automotive market.
One shared element driving the prosperity of these leading firms is their focus on innovation and technological advancements. The top companies are constantly investing in research and development to stay ahead of the curve.
What sets these eminent companies apart from their rivals is their commitment to sustainability. Many of them have implemented eco-friendly practices in their manufacturing processes and are actively working towards reducing their carbon footprint.