The Top 10 Largest Car Manufacturers Worldwide in 2024

Uzone.id—The automotive industry continues to undergo rapid transformation and development. Competition among car manufacturers is getting fiercer, along with the increasing demand for production.

In 2024 alone, several car company names have managed to continue to show their existence and achieve the title of the largest car company in the world. So, here is a list of the 10 largest car companies in the world by revenue throughout 2024 below!

1. Volkswagen

Volkswagen AG (VWAG) is one of the giant companies in Europe, engaged in the automotive sector. The Volkswagen company was first inaugurated by Adolf Hitler in 1937 and has its headquarters in Wolfsburg, Germany.

Being a production house for luxury vehicles such as Audi and Porsche, Volkswagen managed to win the title of the world’s first largest car company throughout 2024. The proof is that in the first quarter of 2024 alone, the Volkswagen company managed to complete as many as 4.35 million vehicle deliveries globally, as many as 317,200 deliveries of Battery Electric Vehicles (BEV), and as many as 136,000 deliveries of Plug-in Hybrid Electric Vehicles (PHEV).

According to Investopedia, Volkswagen managed to achieve revenue (TTM) of USD$284.34 billion, with a net profit (TTM) of USD$19.76 billion and a market capitalization of USD$81.0 billion.

2. Toyota

Toyota owned by Toyota Motor Corporation Group is a company engaged in the automotive sector. The Toyota company was founded in 1937 in Japan. Not only as a manufacturer and exporter of complete vehicles, Toyota also focuses on the delivery of semi-finished vehicles, as well as vehicle components, such as engines and production aids.

According to the Forbes website, Toyota is a company committed to quality and efficiency in the automotive world. It is also the first foreign manufacturer to manage market share in the United States automotive sector. Toyota vehicle models include the Corolla, Camry, Lexus, and others.

Toyota has sold more than 10.2 million vehicles globally and produced as many as 2 million hybrid vehicles. Hybrid vehicle sales account for nearly 30 percent of total sales. In total, Toyota had revenue (TTM) of USD$270.58 billion in 2024, net profit (TTM) of USD$20.39 billion, and market capitalization of USD$189.4 billion.

3. Stellantis

Stellantis (STLA) is a multinational automotive manufacturing company founded in 2021 in Amsterdam, the Netherlands. Although it is still relatively young compared to other automotive giants, it has overshadowed various luxury brands, such as Peugeot, DS, Jeep, and so on. Stellantis’ revenue value was USD$181.58 billion with a net profit (TTM) of USD$16.97 billion, and a market capitalization value of USD$45.2 billion.

4. Mercedes Benz

Mercedes Benz or Mercedes Benz AG (MBGYY) is a multinational car production company based in Stuttgart, Germany. This automotive company is synonymous with luxury and technological innovation. Its flagship products include the C-Class, E-Class, and S-Class.

According to Investopedia statistics, Mercedes Benz dominated the market in India in 2024 with sales of 5,412 units and experienced an increase of 15 percent from the previous year. Meanwhile, Mercedes Benz’s revenue in 2024 is worth USD$156.23 billion, with a net profit of USD$25.64 billion and the company’s market capitalization of USD$70.2 billion.

5. Ford

Ford or Ford Motor Company, is an automotive company based in Michigan, United States. The Ford company was founded in 1903 and has vehicles such as Mustang, Edge, Ranger, and many others. 

Throughout 2024, Ford ranked fifth as the world’s largest car company. Its revenue was USD$151.74 billion, its net profit was USD$9.01 billion, and its market capitalization was USD$46.1 billion.

6. General Motors (GM)

General Motors (GM) is a multinational automotive manufacturing company based in Detroit, Michigan, United States. It is also one of the “Big Three” car manufacturers in the US, with luxury brands such as Chevrolet, Cadillac, and GMC.

As of the third quarter of 2024, GM achieved retail sales of 3 percent, with a total shipment of 659,601 vehicles. The highest sales were in electric vehicles (EVs), with 32,095 deliveries. This figure marks an increase in the company’s revenue of 60 percent and an increase of 46 percent compared to the previous quarter.

General Motors ranked sixth as the world’s largest automobile company throughout 2024 with revenue of USD$147.21 billion, net profit of USD$9.68 billion, and company market capitalization of USD$50.0 billion.

7. Honda

Honda, from Honda Motor Company (HMC) Group, is one of the automotive giants from Japan. Honda was founded in 1986 and focuses on producing high-quality products at affordable prices.

Honda is an automotive manufacturer that produces passenger cars, trucks, vans, all-terrain vehicles, motorcycles, related parts, insurance, and financial services. Honda vehicle models include the Civic, Accord, Odyssey, and many more.

The Honda company’s revenue will be USD$126.17 billion throughout 2024, its net profit will be USD$5.29 billion, and its market capitalization will be USD$39.8 billion.

8. Tesla

Tesla is an automotive company that produces electric vehicles owned by Elon Musk, the world’s first richest man. Based in Austin, Texas, United States, Tesla has four electric models, such as Model 3, Model Y, Model S, and Model X.

For the company’s revenue, Tesla achieved USD$74.86 billion with a net profit of USD$11.19 billion and a market capitalization of USD$435.1 billion and managed to become the eighth largest car company in the world throughout 2024.

Despite being the eighth largest car company, Tesla is the world’s largest electric vehicle manufacturer, continuing to lead the electric vehicle revolution. In the first quarter of 2024, Tesla produced more than 433,000 vehicles and delivered about 387,000 electric vehicles worldwide. 

9. Nissan

Nissan or Nissan Motor Company is one of the giant car manufacturers originating from Yokohama, Kanagawa, Japan. Nissan was founded in 1934 and has several categories of cars, such as SUVs, MPVs, sports cars, and others. In addition, Nissan vehicle models include, Altima, Maxima, Sentra, LEAF, and so on.

Nissan’s revenue throughout 2024 reached USD$73.73 billion with a net profit of USD$0.9 billion and a market capitalization of USD$12.7 billion.

10. BYD

BYD, which stands for “Build Your Dreams”, is a multinational company based in Shenzhen, China. The company was founded in 1995 and had an initial focus on the production of rechargeable batteries, before later expanding into an electric vehicle manufacturer. In addition to Tesla, BYD is also an electric car brand that is popular with the public.

Even at the beginning of this year, BYD’s international sales soared to 156 percent from the previous year, with 26,995 plug-ins sold overseas. Throughout 2024, BYD occupied the position of the tenth largest automobile company in the world, with revenue of USD$51.37 billion, a net profit of USD$1.48 billion, and a market capitalization of USD$74.7 billion. (Nurul Arifah)