[Ranking] TOP 25 Automotive Companies Q3/2023
Intro
The automotive industry plays a critical role in the worldwide economy, with its far-reaching influence extending across diverse sectors. As one of the largest industries globally, it contributes significantly to job creation, technological advancements, and economic growth. The industry encompasses a wide range of activities, including the design, manufacturing, and sale of vehicles, as well as related services such as maintenance, repair, and aftermarket sales.
The impact of the automotive industry is felt not only within its own sector but also in ancillary industries. It drives demand for raw materials like steel, rubber, and plastics, while also fueling innovation in electronics, software, and alternative energy sources. Additionally, the industry has implications for transportation infrastructure, urban planning, and environmental sustainability.
In recent years, the automotive industry has experienced remarkable growth, driven by factors such as increasing global population, rising disposable incomes, and urbanization. The demand for vehicles is expected to continue its upward trajectory, particularly in emerging markets where car ownership rates are still relatively low. Furthermore, the industry has witnessed a shift towards electric and autonomous vehicles, as well as the integration of advanced technologies like artificial intelligence and connectivity.
Current trends in the automotive industry are shaping its future. The push for sustainability and reduced carbon emissions has led to the development of electric and hybrid vehicles, with major players investing heavily in research and development to improve their offerings. Additionally, the emergence of ride-sharing and mobility-as-a-service platforms has disrupted traditional ownership models, creating new challenges and opportunities for industry players.
The automotive industry operates in a dynamic and ever-changing landscape. Technological advancements, evolving consumer preferences, and regulatory changes continually reshape the industry. This sets the context for exploring the top companies within the automotive sector, as they navigate these challenges and strive for innovation and market leadership.
Ranking
#25 Suzuki Motor Corporation
Employees: 70K
Revenue: 3.6B$
Website: https://www.suzuki.co.jp/
Description: Suzuki Motor Corporation is a Japanese automotive company headquartered in Hamamatsu, Japan. Founded in 1909, Suzuki has established itself as a leading player in the automotive industry. With around 70,000 employees, the company operates globally, manufacturing and selling a wide range of vehicles, including motorcycles, compact cars, and outboard motors. Suzuki is renowned for its innovative designs, fuel-efficient engines, and reliable performance. The company has a strong presence in the Asian market, particularly in Japan and India. Suzuki's revenue reached approximately 3.6 billion dollars, reflecting its success in the competitive automotive sector.
#24 Mitsubishi Motors Corporation
Employees: 30K
Revenue: 4.5B$
Website: https://www.mitsubishi-motors.com/
Description: Mitsubishi Motors Corporation, headquartered in Tokyo, Japan, is a leading player in the automotive industry. With a history dating back to 1970, the company has established itself as a prominent manufacturer of automobiles, electric vehicles, and crossover SUVs. Mitsubishi Motors operates globally, catering to customers in various regions. The company's commitment to innovation and sustainability is evident through its development of advanced technologies and eco-friendly vehicles. With a workforce of approximately 30,000 employees, Mitsubishi Motors continues to deliver high-quality vehicles and services to meet the evolving needs of consumers. The company's annual revenue stands at around 4.5 billion US dollars, reflecting its strong presence and success in the automotive market.
#23 Chery Automobile Co., Ltd.
Employees: 20K
Revenue: 5.2B$
Website: https://www.cheryinternational.com/
Description: Chery Automobile Co., Ltd. is a Chinese automotive company headquartered in Wuhu, China. Founded in 1997, Chery has grown to become one of China's largest automobile manufacturers. With approximately 20,000 employees, Chery is involved in the design, development, production, and sale of a wide range of vehicles, including passenger cars, SUVs, and electric vehicles. The company operates in the automotive industry, focusing on delivering high-quality vehicles that combine performance, innovation, and affordability. Chery has a strong presence in both domestic and international markets, with a reputation for producing reliable and fuel-efficient vehicles. With an annual revenue of 5.2 billion dollars, Chery continues to expand its product lineup and invest in research and development to meet the evolving needs of its customers.
#22 BYD Company Limited
Employees: 170K
Revenue: 18.7B$
Website: https://www.byd.com/
Description: BYD Company Limited, headquartered in Shenzhen, China, is a major player in the automotive industry. Founded in 1995, BYD is known for its expertise in electric vehicles (EVs) and batteries. With a workforce of approximately 170,000 employees, BYD has established itself as a leading manufacturer of EVs, offering a wide range of electric cars, buses, and trucks. The company has been at the forefront of technological advancements in the industry, focusing on sustainable transportation solutions. BYD's revenue stands at an impressive 18.7 billion dollars, reflecting its strong presence and success in the automotive market.
#21 Mahindra & Mahindra Limited
Employees: 240K
Revenue: 19.6B$
Website: https://www.mahindra.com/
Description: Mahindra & Mahindra Limited, headquartered in Mumbai, India, is a leading player in the automotive industry. Founded in 1945, the company has established itself as a prominent manufacturer of automobiles, tractors, and two-wheelers. With a workforce of approximately 240,000 employees, Mahindra & Mahindra operates on a global scale, catering to both domestic and international markets. The company's revenue stands at an impressive 19.6 billion dollars. Known for its innovative and sustainable products, Mahindra & Mahindra continues to expand its presence and maintain its position as a key player in the automotive sector.
#20 Subaru Corporation
Employees: 30K
Revenue: 20B$
Website: https://www.subaru-global.com/
Description: Subaru Corporation, headquartered in Tokyo, Japan, is a prominent player in the automotive industry. Founded in 1953, the company has established itself as a leading manufacturer of automobiles and automotive components. With a workforce of approximately 30,000 employees, Subaru is committed to delivering high-quality vehicles that combine performance, safety, and reliability. The company's revenue, which amounts to 20 billion dollars, reflects its strong presence in the market. Subaru's innovative approach and dedication to technological advancements have earned it a loyal customer base globally. Through its website, customers can explore Subaru's extensive range of vehicles and learn about the company's commitment to sustainability and social responsibility.
#19 Jaguar Land Rover Limited
Employees: 38K
Revenue: 24B$
Website: https://www.jaguarlandrover.com
Description: Jaguar Land Rover Limited, headquartered in Coventry, United Kingdom, is a prominent player in the automotive industry. Founded in 1922, the company has established itself as a renowned manufacturer of luxury vehicles. With a workforce of approximately 38,000 employees, Jaguar Land Rover operates on a global scale, catering to a discerning customer base. The company boasts a strong portfolio of iconic brands, including Jaguar, known for its sleek and high-performance vehicles, and Land Rover, renowned for its rugged and versatile SUVs. Jaguar Land Rover is committed to innovation and sustainability, investing heavily in research and development to deliver cutting-edge technology and environmentally friendly solutions. With an impressive annual revenue of around 24 billion dollars, Jaguar Land Rover continues to drive the automotive industry forward with its exceptional craftsmanship, advanced engineering, and commitment to delivering unparalleled driving experiences.
#18 Volvo Cars
Employees: 41K
Revenue: 25B$
Website: https://www.volvocars.com
Description: Volvo Cars, headquartered in Gothenburg, Sweden, is a prominent player in the automotive industry. Founded in 1927, the company has a rich history of manufacturing safe and reliable vehicles. With a workforce of approximately 41,000 employees, Volvo Cars is committed to producing innovative and sustainable automobiles. The company has achieved significant success, generating a revenue of around 25 billion dollars. Volvo Cars continues to prioritize safety and quality while embracing technological advancements to enhance the driving experience for its customers.
#17 Geely Automobile Holdings Limited
Employees: 150K
Revenue: 30B$
Website: https://www.geelyauto.com/
Description: Geely Automobile Holdings Limited is an automotive company based in Hangzhou, China. Founded in 1986, the company has established itself as a major player in the automotive industry. With approximately 150,000 employees, Geely focuses on the design, development, production, and sale of automobiles and automobile components. The company's revenue has reached an impressive 30 billion dollars, reflecting its success and market presence. Geely is known for its innovative and high-quality vehicles, which cater to both domestic and international markets. Through continuous research and development, Geely aims to provide customers with advanced and environmentally friendly transportation solutions.
#16 Mazda Motor Corporation
Employees: 51K
Revenue: 32B$
Website: https://www.mazda.com
Description: Mazda Motor Corporation, headquartered in Hiroshima, Japan, is a leading player in the automotive industry. Founded in 1920, Mazda has established itself as a renowned manufacturer of cars, SUVs, and commercial vehicles. With a workforce of 51,000 employees, Mazda operates globally, delivering innovative and stylish vehicles to customers worldwide. The company's revenue stands at 32 billion dollars, a testament to its success in the market. Mazda's commitment to quality, performance, and sustainability has earned it a strong reputation among consumers. With a focus on cutting-edge technology and design, Mazda continues to push boundaries and create vehicles that inspire excitement and joy of driving.
#15 Tata Motors Limited
Employees: 79K
Revenue: 41B$
Website: https://www.tatamotors.com
Description: Tata Motors Limited, headquartered in Mumbai, India, is a leading player in the automotive industry in Asia. Founded in 1945, Tata Motors has established itself as a prominent manufacturer of a wide range of vehicles, including cars, trucks, buses, and commercial vehicles. With a workforce of around 79,000 employees, the company operates on a global scale with manufacturing facilities in multiple countries. Tata Motors has a strong presence in the Indian market and has expanded its operations to several international markets. The company's revenue stands at a robust 41 billion US dollars, reflecting its significant market position and successful business operations.
#14 Kia Motors Corporation
Employees: 82K
Revenue: 52B$
Website: https://www.kia.com/
Description: Kia Motors Corporation, headquartered in Seoul, South Korea, is a major player in the automotive industry. Founded in 1944, Kia has grown to become one of the world's largest automobile manufacturers. With a workforce of approximately 82,000 employees, Kia is committed to designing and producing high-quality vehicles that cater to the needs and preferences of customers worldwide. The company's revenue stands at an impressive 52 billion dollars, showcasing its strong financial performance. Kia offers a diverse range of vehicles, including sedans, SUVs, and electric cars, known for their sleek design, advanced technology, and exceptional performance. With its innovative approach and commitment to sustainability, Kia continues to make significant contributions to the automotive industry.
#13 Renault Group
Employees: 180K
Revenue: 55B$
Website: https://www.renaultgroup.com
Description: Renault Group, headquartered in Boulogne-Billancourt, France, is a prominent player in the automotive industry. With a rich history dating back to its founding in 1899, Renault Group has established itself as a leading manufacturer and distributor of automobiles. The company boasts a workforce of approximately 180,000 employees worldwide, who contribute to its success. Renault Group generates a substantial revenue of around 55 billion dollars annually, solidifying its position as a major player in the market. Committed to innovation and sustainability, Renault Group continues to deliver high-quality vehicles that meet the evolving needs of customers across the globe.
#12 Groupe PSA
Employees: 210K
Revenue: 74B$
Website: https://www.groupe-psa.com/
Description: Groupe PSA, headquartered in Paris, France, is a leading player in the automotive industry. With a history dating back to 1976, the company has established itself as a prominent manufacturer of cars and motorcycles. Groupe PSA operates several well-known automotive brands, including Peugeot, Citroën, DS Automobiles, Opel, and Vauxhall. The company prides itself on its commitment to innovation and sustainable mobility solutions, constantly striving to meet the evolving needs of its customers. With a workforce of approximately 210,000 employees spread across the globe, Groupe PSA continues to deliver high-quality vehicles that combine performance, style, and cutting-edge technology. In 2019, the company reported revenue of 74 billion dollars, solidifying its position as a key player in the global automotive market.
#11 Peugeot S.A.
Employees: 200K
Revenue: 74B$
Website: https://www.peugeot.com/en
Description: Peugeot S.A., headquartered in Paris, France, is a leading automotive company in the industry. With a rich history dating back to its founding in 1810, Peugeot has established itself as a prominent player in the global automotive market. The company boasts a workforce of approximately 200,000 employees, who contribute to its success and innovation. Peugeot generates an impressive annual revenue of 74 billion dollars, a testament to its strong market presence and customer demand. With its commitment to excellence and a wide range of vehicles, Peugeot continues to shape the automotive industry and deliver high-quality products to customers worldwide.
#10 Hyundai Motor Company
Employees: 120K
Revenue: 90B$
Website: https://www.hyundai.com/
Description: Hyundai Motor Company, headquartered in Seoul, South Korea, is a leading player in the automotive industry. Founded in 1967, the company has grown to become one of the largest automobile manufacturers globally. With a workforce of approximately 120,000 employees, Hyundai produces a wide range of vehicles, including sedans, SUVs, electric cars, and commercial vehicles. The company has established a strong presence in various markets worldwide, offering innovative and reliable vehicles that cater to diverse customer needs. Hyundai's commitment to quality and technological advancements has earned it a solid reputation in the industry. With annual revenues reaching 90 billion dollars, Hyundai continues to invest in research and development to stay at the forefront of automotive innovation.
#9 Nissan Motor Co., Ltd.
Employees: 136K
Revenue: 100B$
Website: https://www.nissan-global.com/
Description: Nissan Motor Co., Ltd. is a leading automotive company headquartered in Yokohama, Japan. Founded in 1933, Nissan has established itself as a global player in the automotive industry. With approximately 136,000 employees, Nissan operates in various segments of the industry, including manufacturing, sales, and related business activities. The company is known for its wide range of vehicles, including electric cars, sedans, SUVs, and trucks. Nissan has a strong presence in key markets worldwide and continues to innovate in terms of technology, design, and sustainability. With a revenue of around 100 billion dollars, Nissan is a major player in the automotive industry, contributing to the global economy and shaping the future of mobility.
#8 BMW AG
Employees: 126K
Revenue: 104B$
Website: https://www.bmw.com
Description: BMW AG, headquartered in Munich, Germany, is a leading automotive company in the industry. With a history that dates back to 1916, BMW has established itself as a renowned manufacturer of luxury vehicles, motorcycles, and engines. The company employs approximately 126,000 individuals worldwide who contribute to its success. BMW has consistently achieved impressive revenues, with the latest reported revenue reaching 104 billion US dollars. Known for its innovation and commitment to quality, BMW continues to produce cutting-edge vehicles that combine elegance, performance, and advanced technology.
#7 Fiat Chrysler Automobiles N.V.
Employees: 198K
Revenue: 123B$
Website: https://www.fcagroup.com/
Description: Fiat Chrysler Automobiles N.V. (FCA) is a leading automotive company based in Auburn Hills, United States. With its headquarters in North America, FCA operates in the automotive industry, manufacturing and selling a range of vehicles, including cars, trucks, and SUVs under various brand names. The company was founded in 2014, following the merger of Italian automaker Fiat and American automaker Chrysler. FCA has a large workforce of approximately 198,000 employees, who contribute to the company's success and growth. In terms of revenue, FCA generates an impressive 123 billion dollars, reflecting its strong market presence and customer demand for its diverse vehicle offerings.
#6 Ford Motor Company
Employees: 190K
Revenue: 127B$
Website: https://www.ford.com
Description: Ford Motor Company, headquartered in Dearborn, Michigan, is one of the leading automotive companies in the world. Founded in 1903, Ford has a rich history of producing innovative vehicles. With approximately 190,000 employees, the company operates globally and is known for its popular car models such as the Ford Mustang and Ford F-150. Ford generates a revenue of 127 billion dollars, making it one of the largest players in the automotive industry. Their commitment to electric and autonomous vehicles showcases their dedication to shaping the future of transportation.
#5 Honda Motor Co., Ltd.
Employees: 215K
Revenue: 138B$
Website: https://www.honda.com
Description: Honda Motor Co., Ltd. is a Japanese automotive company headquartered in Tokyo, Japan. Founded in 1948, Honda is one of the leading manufacturers of automobiles, motorcycles, and power equipment. With over 215,000 employees worldwide, Honda is known for its innovative and reliable vehicles. The company operates in the automotive industry, producing a wide range of vehicles including cars, motorcycles, and power products. Honda has a strong global presence and is recognized for its commitment to quality and sustainability. With annual revenue of approximately 138 billion dollars, Honda continues to be a major player in the automotive market.
#4 General Motors Company
Employees: 180K
Revenue: 147B$
Website: https://www.gm.com
Description: General Motors Company, headquartered in Detroit, United States, is a prominent player in the automotive industry. Founded in 1908, the company has a workforce of approximately 180,000 employees. With a revenue of around 147 billion dollars, General Motors is one of the largest automobile manufacturers globally. The company is involved in designing, manufacturing, and selling a wide range of vehicles, including cars, trucks, and SUVs, under various brands such as Chevrolet, Buick, GMC, and Cadillac. General Motors also offers automotive financing services through its subsidiary, GM Financial. With a rich history and global presence, General Motors continues to innovate and lead the way in the automotive industry.
#3 Daimler AG
Employees: 300K
Revenue: 196.5B$
Website: https://www.daimler.com
Description: Daimler AG, headquartered in Stuttgart, Germany, is a leading automotive company operating in the automotive industry. Founded in 1926, the company has a rich history and a strong global presence. With approximately 300,000 employees worldwide, Daimler AG is known for its iconic brands such as Mercedes-Benz, AMG, and Smart. The company is engaged in the design, development, production, and distribution of cars, trucks, and vans, catering to a wide range of customers and markets. Daimler AG is renowned for its commitment to innovation, sustainability, and luxury, offering premium vehicles that combine cutting-edge technology, exceptional performance, and elegant design. With a revenue of 196.5 billion dollars, Daimler AG continues to be a key player in the automotive industry, setting industry trends and shaping the future of mobility.
#2 Toyota Motor Corporation
Employees: 375K
Revenue: 275B$
Website: https://www.toyota-global.com/
Description: Toyota Motor Corporation, headquartered in Toyota City, Japan, is a leading automotive company in the world. Founded in 1937, Toyota has grown to become one of the largest automobile manufacturers globally. With a workforce of approximately 375,000 employees, Toyota is committed to providing high-quality vehicles that meet the evolving needs of customers. The company's revenue reached 275 billion dollars, reflecting its strong presence in the automotive industry. Toyota's extensive product lineup includes cars, trucks, SUVs, and hybrid vehicles, catering to a diverse range of customers worldwide. Known for its innovation and reliability, Toyota continues to invest in research and development to drive technological advancements in the automotive sector.
#1 Volkswagen AG
Employees: 660K
Revenue: 282B$
Website: https://www.volkswagenag.com
Description: Volkswagen AG, headquartered in Wolfsburg, Germany, is a leading automotive company operating in the Automotive industry. The company was founded in 1937 and has grown to employ approximately 660,000 employees worldwide. With a revenue of 282 billion dollars, Volkswagen AG is one of the largest players in the automotive sector. The company designs, manufactures, and distributes a wide range of vehicles, including passenger cars, commercial vehicles, and motorcycles. Volkswagen AG also offers various services related to mobility, such as financing, leasing, and fleet management. With a strong focus on innovation and sustainability, Volkswagen AG aims to shape the future of mobility with its advanced technologies and electric vehicle offerings.
Summary
The automotive industry is a highly competitive sector, with several top companies vying for dominance. In this analysis, we have identified the top companies in the automotive sub-industry based on their rankings and significant accomplishments.
One unexpected finding is the increasing focus on electric vehicles (EVs) by these top companies. With the growing concern for environmental sustainability, companies are investing heavily in EV technology and infrastructure.
Among the premier companies in the automotive sub-industry, we have General Motors, Toyota, Volkswagen, Ford, and BMW. These companies have consistently demonstrated their prowess in the industry through their innovative products and strong market presence.
One common element driving the prosperity of these leading firms is their commitment to research and development (R&D). These companies invest heavily in R&D to stay at the forefront of technological advancements and meet evolving customer demands.
What sets these eminent companies apart from their industry rivals is their ability to adapt to changing market trends. They have successfully diversified their product portfolios to include electric and autonomous vehicles, as well as mobility services. This adaptability has allowed them to stay ahead of the competition and retain their market leadership.