Tag: automobile industry

German automotive industry

Automobile Industry Analysis: Infiniti’s Industry Analysis Solution Helped an Automaker Evaluate their Financial Health and Establish Themselves in the US Automobile Market

Automobile Industry Analysis

New technologies, innovative designs, manufacturing processes, and changing consumer demands are making automobile industry far more complex than they were a decade ago. Automobile companies are also under pressure to keep up with market demands and innovations. This necessitates companies to conduct automobile industry analysis to keep tabs on competitors, market innovations, opportunities, and risks. Infiniti Research has helped many automakers to understand its market position relative to its competitors and focus their resources on developing unique capabilities that could lead to a competitive advantage.

US Automobile Industry Analysis: Challenges Facing the US Automobile Industry

US AUTOMOTIVE INDUSTRY CHALLENGES

Want to understand your market position compared to other major automakers in the industry? Our automobile industry analysis solutions can help. Request a FREE brochure to know more about our services for the automotive industry and learn how our automobile industry analysis solutions can help your business understand the key opportunities and challenges in different markets.

Business Challenge

The client is an automobile company based out of the Midwestern United States. The client was new to the US automobile market. To identify and quantify the opportunities in the US automobile industry, the client approached Infiniti Research to leverage their expertise in offering automobile industry analysis. Lack of adequate knowledge about the market and competitors posed major challenges for the client as they were unable to determine a clear business strategy and justify their actions. Furthermore, the automotive company wanted to identify and understand the risks and opportunities facing their business to develop unique capabilities that could lead to a competitive advantage.

By leveraging Infiniti’s expertise in offering automobile industry analysis, the client also wanted to:

Understand US automobile industry performance – The client wanted to analyze how well the US automobile industry is doing and also understand how the market changes will affect the performance of automobile companies in the region with the help of our automobile industry analysis.

Understand market position – With Infiniti’s automobile industry analysis, the client wanted to gain an in-depth understanding of the industry and competitors. With the insights obtained, the client wanted to understand their position in the US automobile market and differentiate their products and services from other companies operating in the same region.

Identify potential opportunities and threats – The client also wanted to understand the potential threats and opportunities in the US automobile industry to build strategic business plans.

Are you new to an industry? If yes, you will definitely need to leverage an industry analysis to gain detailed insights into competitors and market opportunities. Request a FREE proposal to know how our solutions will help you identify the specific industry’s opportunities and challenges.

Solutions Offered and Value Delivered

The experts at Infiniti Research conducted automotive market research. The factors such as industry performance, major automakers, market opportunities, threats, and competitors market position were taken into consideration. The experts also compared the client’s business performance against various other market players using different metrics.

From the insights obtained from Infiniti’s automobile industry analysis, the client was able to gauge the competition and track their own progress in the US automobile market. The automobile industry analysis further helped the client to understand the performance trends and assess potential market opportunities. By leveraging Infiniti’s expertise in offering automobile industry analysis, the client was also able to understand their market position relative to other major automakers. This helped them make changes in their business plans and identify niche market segment to promote their product offerings. In the course of three years, the client was able to gain a leading edge in the market. Also, with Infiniti’s automobile industry analysis, they were able to meet their revenue expectation and achieve an increase in profit margin by 12%.

CONTACT US to know how our automobile industry analysis will help you gain complete insights into the automobile market and competitors.

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Automobile Industry Intelligence: How a Leading Auto Accessories Manufacturer Gained Business Stability with the Help of Infiniti’s Market Intelligence Engagement

Newer strides being made in the automobile industry are posing a threat to the auto accessories manufacturers who are now exploring innovative strategies to step up their game. Click To Tweet

In today’s world, a car is no more just a medium of transportation but also bears semblance to the consumer’s aesthetic choice in terms of styling, comfort, safety, and penchant towards embracing emerging technologies. It has been a rocky road for the auto accessories manufacturers since they are struggling to cope with the change in trends. The need of the hour is for them is to get a clear picture of the dynamic automobile industry and create a predictive business strategy. It will assist the auto accessories manufacturers Request Proposalin adapting to the advancements made every day and supply the spare parts at the right time and right place while maintaining stability in the market.

The Business Issue

  • The client: Auto accessories manufacturer

The client is a leading global auto accessories manufacturer and is considered as one of the foremost players in the automobile industry. Infiniti was approached by the client to assist them in attaining an in-depth intelligence of the global automobile industry. This market intelligence study would help the auto accessories manufacturer in identifying potential regions for investments. In addition to this, Infiniti’s market intelligence assessment would offer the client valuable insights into thriving segments of the automobile industry, growth scope for the auto accessories manufacturer in the current economy, and route-to-market strategies to do business while maintaining revenue generation.


How Can Market Intelligence Help Companies Offering Auto Accessories

In today’s dynamic market, a market intelligence study will offer a thorough understanding of the trends and challenges prevailing in the market. Such insights would assist auto accessories manufacturers to re-strategize their business plans. A comprehensive view of the automobile industry ecosystem will help the automobile industry client to analyze and identifyGet More Info potential risks affecting business operations. In addition to this, Infiniti’s market intelligence study will help identify the core areas of investment amidst a busy automobile industry map.


Summary of Our Auto Accessories Market Intelligence

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Client Journey

Infiniti adopted a holistic approach to identifying the criteria required for the auto accessories manufacturers to improve their brand positioning in the rapidly changing automobile industry. It included mapping the changing trends of customer’s expectations, which is one of the major factors influencing the automobile industry. The market intelligence study included in-depth primary and secondary research coupled with qualitative and quantitative data collection procedures. The market intelligence experts also took inputs from various stakeholders and stakeholders in the automobile industry.

Solution Benefits and the Business Impact

The market intelligence study by Infiniti helped the auto accessories manufacturer to develop an intelligent and predictive business strategy that aligns with the dynamic automobile industry. It aided the client in boosting their up-selling opportunities by identifying target customer groups. In addition, the data obtained from this market intelligence engagement allowed the auto accessories manufacturer to gain a holistic view of the competitive landscape, which helped the auto accessories manufacturer to gain an upper hand in the ever-changing automobile industry.

The Future

In the wake of wrenching changes in global economies and technological advancements, auto accessories manufacturers are taking innovative initiatives and focusing on R&D. It is heralding a profitable growth in this segment of the automobile industry. Moreover, the consumer’s growing penchant for luxurious driving experience is expected to bolster demand for auto accessories manufacturers.


A must-read case study for strategy specialists and decision makers looking to develop an understanding of the auto accessories market

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Transport and logistics

Top 3 Technologies Shaping the Future of Mobility

The automobile industry has undergone a drastic revolution and is now being recrafted, reborn, and redrawn. This is going to be the future of mobility for generations to come. The focus has been shifted to designing a sustainable future for mobility through various innovations such as globalism, propulsion systems, new techniques of manufacturing, and above all the impact on the environment. By the incorporation of such techniques, the future of mobility is going to lie somewhere that the generations to come will cherish. These innovations have the potential to find faster and smarter solutions that will help in designing a smart future for mobility. Such evolutions will impact almost all the sectors of transport like aeronautics, railways, land vehicles, and maritime transport.Ask An Analyst_IR

According to the automobile industry experts at Infiniti Research, “The future of mobility will be marked by innovations brought on by the increasing preference for digitization, increasing automation, and new business models.”

Moreover, the penetration of electric vehicles will help reinvent the current automotive components space. The automotive industry will also witness the advent of new trends in terms of electrification, shared mobility, connectivity, and autonomous driving, which will have a further impact on the automotive components space.

Here are three emerging technologies that have some serious potential to reshape the future of mobility.

Request ProposalTop three technologies shaping the future of mobility

Passenger rail reborn

Technologies like virtual ticketing systems, Li-fi, ticketless traveling, high and hyperspeed, big data, and many more are going to transform the passenger rail system rapidly and will have a huge impact on the future of mobility. Virtual ticketing will combine the use of a vending machine, ticket office, and call center for passengers at the stations. Passengers will have the experience of talking to a real person in real-time using the virtual agent.  Li-fi will replace traditional Wi-fi and provide a good user experience to the passengers. This will also help in cutting down costs and will be more efficient in providing better service to the passengers. Li-fi will not only shape the future of mobility in terms of passengers but also improve operations. Another technology, big data, will help in processing huge structured and unstructured data and will pave the way for the future of mobility.

Underground transportation

Today, there are many cities that have the capacity to incorporate the underground transportation system to deal with the increasing traffic and demand. This will help in designing a smarter future of mobility for the forthcoming generations. It is extremely challenging to navigate through the long built transport system, aesthetically as well as technically. This is the reason why many cities are planning to come up with underground road and rail tunnels that willGet More Info help in transforming the future of mobility.

Adopting Waze, Google, and Apple maps

Today mobile applications like Google maps, Waze, and Apple maps have made navigation too easy for the drivers. It has brought about a paradigm shift in navigation from the traditional method of questioning to locals about the route to a smart way of finding the route yourself through these apps. It helps in getting away with congested routes and makes mobility less challenging. With the continuous upgrade and addition of advanced technologies to such applications, the future of mobility looks to be moving towards efficiency and energy savings.


To explore more about technologies shaping the future of mobility

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Brand Strategy: How an Automobile Chassis Manufacturer Scaled Up Their Brand Position in the Australian Market

Today, meeting the constraints and maximizing the customer value put a lot of cost pressure on the automobile chassis manufacturers across the globe.

The upcoming regulation about the CO2-emissions and the need to reduce fuel consumption of the vehicles has a very high influence on the design of the components. The automobile chassis does have a direct impact on the mass, the rolling resistance, the overall friction, the aerodynamic drag and, to some degree even the electric loads. However, in general customers today are not generally very interested in technology, but they evaluate a vehicle by its attributes, appearance, and overall performance. That implies that the goal is not to design a ‘good chassis’, but to find a resolution that makes the total vehicle more attractive.

In the early years, the focus was on the primary function of a chassis, which is to offer the best possible ride and handling performance. The reason behind this narrow view was that neither ride nor handling scored very high and consequently a good chassis meant a significant advantage in the marketplace. However, today, we have new criteria that play an ever-increasing role in the design of a chassis. The legislation is imposing high safety standards and automobile chassis manufacturers must meet tough emissions targets. As a result, automobile chassis manufacturers are selecting architectures, components, and other design factors such that the Request Proposalresulting chassis meets all legal and market specific requirements and maximize the perceived value of the total vehicle, exceeding customer expectations.

Business Issues

  • The client: An automobile chassis manufacturer

The client, a leading manufacturer of automobile chassis based out of the US, approached Infiniti Research to leverage a brand strategy solution to reinforce their position in the Australian market. The principal objective of the engagement was to gain a comprehensive overview of the competitive landscape, market position, and customer expectations in the Australian region. Besides, the client also wanted to evaluate the authenticity of the organization and drive operative marketing campaigns to improve brand awareness.

How Can Brand Strategy Engagement Help Companies in the Automobile Chassis Manufacturing Market?

A robust brand strategy can take what individuals know and believe about your business to new levels. An active brand strategy takes an asset that may now be largely underused and turns it into a powerful competitive weapon. It will elevate the relevance and importance of what is already known and believed about your business. It can also add many new reasons, both emotional and rational, which will create stronger bonds with customers and make your business more attractive to prospects.


Summary of our brand strategy solutionAsk An Analyst


Client Journey

The brand strategy experts at Infiniti followed a comprehensive research methodology comprising of interviews and discussions with prominent stakeholders in the automobile industry. The experts also relied on sales and marketing reports, syndicated research reports, relevant websites, and company publications to help the client fine-tune their marketing strategies and maximize competitiveness.

The Solution Benefits and the Business Impact

The automobile chassis manufacturer gained better clarity into the competitive landscape and enhanced the brand’s performance with the help of Infiniti’s brand strategy solution. The client also built credibility, improved brand recognition, and increased advertising effectiveness. Also, the brand strategy engagement helped the client deliver value that the customers in the Australian market were looking for. Furthermore, the client built a customer-focused marketing strategy to scale up their position in the Australian market.

The Future

Up until now, major brands would build four or five different models off a single platform. However, today, derivatives share common non-consumer facing product elements including common chassis underpinning, body structures, and core components to make differentiation of consumer-facing features profitable. But running more derivatives per platform also increases complications. Therefore, to manage this complexity, prevent cannibalization, control costs, and ensure that differentiation is aligned with consumer preference, OEMs need to develop new global platform strategies, including modular concepts that would create additional value.


A must-read case study for strategy specialists and decision makers looking to develop an understanding of the automobile chassis industry

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Infiniti’s Market Segmentation Solution Helps A Leading Car Accessories Supplier Efficiently Allocate Resources to Meet Their Business Requirements

Around 6.9 million passenger cars were sold to customers in the U.S. in 2016, and approximately four million cars were produced in the same year.

The global car accessories market is primarily driven by the increasing demand for cars, increasing inclination toward vehicle customizations, and growing sales of pickup trucks in developed markets. Moreover, leading players in the car accessories market are increasing their focus on implementing new technologies like biometric access, active window displays, and advanced lighting technology. Such technological advancements are anticipated to fuel the growth opportunities of the car accessories market in the coming years. Furthermore, leading firms specializing in manufacturing car accessories are investing in product innovation, technology, and are maintaining quality standards to retain their foothold in the automotive industry space.

Here are a few factors limiting the growth of the global car accessories market:

  • Cost: One of the major factors limiting the market growth for car accessories is the cost of high-quality car accessories. This is typically attributed to the costs associated with the implementation of advanced technologies. Many such factors are compelling players in this sector to manufacture low-quality car parts, resulting in weak market growth, thereby, decreasing the revenue share of the organized players.
  • Personal transportation: Though connected and intelligent cars have just started making inroads into the global automotive industry and have already impacted the performance of car accessories manufacturers at an organizational level. The technology required to build smart cars such as sensors, web networking, and software is leading to the rise in the presence of technology multinationals in the automotive industry.

Several such factors are compelling firms in the car accessories space to leverage the use of market segmentation solutions. IR_RFPMarket segmentation solutions aid firms to identify the potential market opportu­nities. These solutions also help firms create separate marketing programs designed to satisfy the needs of different customers.

The Business Challenge

  • The client: A leading car accessories supplier

The client, a leading car accessories supplier with business units spread across the globe, wanted to maximize their profitability by focusing their efforts and resources on developing strategies to match the target market segments. Additionally, they wanted to create sub-segments of the market based on various factors which included priorities, demographics, and psychographic criteria used to better understand the target audience. This would help them offer personalized services to their diverse customer segments.

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The Journey

The market segmentation experts at Infiniti also carried out extensive research comprising interviews and discussions with prominent stakeholders in the car accessories industry space to help the client identify the potential targets and implement a robust market segmentation strategy. The experts also compiled information from a wide array of reliable sources such as paid industry databases, industry forums, and company presentations.

The Solution and the Business Impact

Infiniti’s market segmentation solution helped the car accessories supplier gain actionable insights into the ways to devise potential branding strategies to keep themselves updated on the current market trends. Additionally, the client re-defined their advertising and media campaigns to enhance their return on investment. The market segmentation solution offered by Infiniti also assisted the client in better marketing their products and services to better serve its customers.

The Future

The global car accessories market is expected to experience enormous growth in the coming future. This market is anticipated to be driven by increasing demand for cars across the globe. Additionally, increasing consumer inclination towards an entertaining driving experience and growing vehicle customization among a young population are likely to boost the demand for car accessories market share. Moreover, technological advancements are expected to open up new growth avenues in the near future.


A must-read case study for strategy specialists and decision makers looking to develop a better understanding of the car accessories market across the automotive industry

IR_RFP


Transport and logistics

Infiniti’s Market Intelligence Solution Helps a Prominent Auto Engine Parts Manufacturer Gain Holistic Knowledge of all Aspects of the Marketplace

The growing emphasis on engine efficiency, improvements in the global economic conditions, and rapid decline in commodity and gasoline prices are the major growth contributors for the global auto engine parts manufacturing market. The demand from developing economies is expected to rebound over the next five years, owing to the increase in disposable incomes and technological developments.  Furthermore, as the global consumer’s preferences and demands continue to vary between fuel efficiency and passenger space, the governments have started implementing stringent regulations that apply to all the subsegments within the automobile industry. This has created several challenges as well as growth opportunities for leading players in the auto engine parts manufacturing market space.

The global automobile industry is influenced by a range of factors that play a significant role in increasing the complexity and also affect the economic options available to the automobile engine parts manufacturers. Most of these factors are interdependent, but a few are market-induced and cannot be influenced directly by the manufacturers in the automobile industry.

Let’s take a look at the factors influencing the growth of the automobile industry:

  • Increasing demand for innovation and flexibility in manufacturing processes: The auto engine parts manufacturers are not just exploited by the complexity of digital advancements but are also affected by the shortening of product lifecycles. Another important factor is the rise in developments of niche product models for specific target groups.
  • The rise in modification and diversification of product portfolios: It is essential to reduce the product development lifecycles to react to the changing demands of the end-users quickly. Today, companies in the automobile industry change or modify their products within two or three years; whereas, in the past, an average product lifecycle in the automotive sector was about eight years.
  • Increasingly diversified customer preferences: Customers look for products that satisfy their requirement and preferences. However, owing to the increase in competition and IR_RFPgrowing focus on price rather than brand loyalty, consumers are generally not drawn towards companies for their individualized products.

The Business Challenge:

  • The client- A Leading auto engine parts manufacturer

Objective- To identify and analyze the market trends, growth opportunities, and offer an overview of the global auto engine parts market.

The client, a leading manufacturer of auto engine parts, wanted to gain a holistic view of the automobile industry. The client wanted to leverage Infiniti’s market intelligence solution to boost their upselling opportunities by targeting specific consumer groups. The client also wanted a detailed report on the market entry barriers, new opportunities, risks, and competition in the automobile industry.

Results- Devised effective strategies based on the analysis of the marketplace. Also, identified future growth opportunities and guided the client in working towards establishing their goals.

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The Journey

The market intelligence experts at Infiniti carried out extensive research comprising of interviews and discussions with leading stakeholders in the automotive accessories market to help the client improve business efficiency. The experts at Infiniti further compiled information from a wide array of secondary sources such as paid industry databases, company presentations, and industry forums to help the client understand the competitive scenario.

The Solution and the Business Impact

Our market intelligence solution helped the automotive client refine their decision-making processes. It also helped them in reducing their warranty assistance costs by tens of millions of dollars, while continuing to target assistance to their most valuable customers. The solution offered also helped the auto engine parts manufacturer in improving their business strategies by grounding their decisions in real-world data and analysis.

 This engagement also helped the client in enhancing their process efficiency by devising risk negating strategies and offering real-time updates. Moreover, this helped them in identifying a scalable approach to discover new growth opportunities.


 The Future:

The way businesses are conducted across various industrial segments is changing at an ever-increasing speed, and market intelligence experts are the center of these changes. Constant technological innovations bring about the need to analyze markets better and the opportunities it presents. Very often, organizations that put too much effort into devising strategies to catch up on the competition and end up falling behind, as they cannot anticipate the future market developments effectively.

Moreover, in today’s world, market intelligence solutions have become an essential tool in making smart, data-driven decisions. It is emerging as a fast-growing trend and is increasingly being adopted by various industries. Also, as the dependence on data increases, almost any use of data will require market intelligence to extract actionable insights from it.


A must-read case study for strategy specialists and decision makers looking to develop an understanding of the auto engine parts market space.

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Top Innovations in the Automobile Industry You’d be Surprised to Know

From horsecarts and the first steam-powered automobile built in 1769 to supercars and electric vehicles, the automotive industry has come a long way. Innovation is what drives the automobile industry to deliver and exceed customer expectations and change the industry landscape. While it may seem like the automobile industry has hit a brick wall in terms of innovation, it is far from the truth. Automotive innovations take place in both smaller and larger scale from minor improvements in engine performance and fuel economy to driverless cars and automotive telematics. The car industry is rapidly innovating to improve sustainability and decrease its dependence on fossil fuels. Today, the automobiles are not all about the hardware and engines but incorporate software and artificial123 intelligence to become a truly smart car. So, what are the automotive innovations that are transforming the car industry?

Top innovations in the automobile industry

Hydrogen powered cars

Imagine an electric vehicle, which can be refilled similar to traditional processes and provide the same range as conventional cars and trucks. Hydrogen powered cars use hydrogen gas to power an electric motor. It uses hydrogen and oxygen to produce electricity and produces only water and heat as a byproduct. Toyota has taken initiatives to succeed in this area by rolling out Toyota Mirais in California. By 2017, the company already sold as many as 5,3000 Mirais globally. A five minutes refueling can provide a driving range of around 312 miles.

Self-driving cars

To err is human, and self-driving cars don’t rely on humans to navigate safely on the road. Tesla has revolutionized the automotive industry by developing complex AI systems, which can drive far cars more efficiently and safely than humans. Such cars can easily detect road signals, incoming traffic, and sudden lane changes to maintain safety. Additionally, full autonomy will allow fleet management and logistics companies to lower the financial cost of transportation. Tesla cars are equipped with 12 ultrasonic sensors that detect both hard and soft objects at nearly twice the distance of the prior system.

Holographic dashboards

Dashboards are the control panel in a car and provide the driver with the necessary information and alerts. It also allows the user to control specific aspects of the vehicle. But wouldn’t it be cool to control by just looking at it? Porsche just unveiled Mission E, a concept car which can be charged by merely driving over a special tile and has a holographic dashboard which can be controlled just by looking at it. The dashboard instruments in the car are operated by eye-tracking and gesture control systems and some even via holograms.

Mercedes vision van

At CES 2017, Mercedes unveiled their Vision Van, which reimagines how a future van should be like. The vehicle integrates numerous innovative technology by featuring a fully automated cargo space and has delivery drones that can deliver packages up to 2kg till distances up to 20kms. The car is powered by a 75kW electric drive system, which offers a driving range of up to 270km. Vision Van also features a telematics system, which collects and processes data related to the status of the delivery.

Goodyear spherical tire

The auto industry has witnessed numerous automotive innovations relating to cars or driving systems. However, many people wouldn’t have expected innovations in terms of a vehicle’s tires. Goodyear brought some refreshing idea with its concept tire, Eagle-360. The tire was designed with key features of maneuverability, connectivity, and biomimicry to enable autonomous mobility. The tire can communicate with autonomous vehicle control systems to sense road conditions and weather conditions to improve safety and adapt to road conditions. Additionally, the tires also shape-shift to adjust to different terrains and automatically repairs itself.

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Top Automotive Companies Across the World

With a majority of the population owning cars in the developed parts of the world, one may be compelled to think that the automotive market is reaching its saturation point. However, that claim is far from the truth as 81.6 million automobiles are expected to be sold by the end of 2018. The major reason driving this growth can be attributed to the growing income in the developing nations. Additionally, people also see cars as a status symbol and often upgrade to a better model for better looks or performance. So who are the top automotive companies in the world fuelling theRequest Free Proposal overall growth?

Top automotive companies across the world

#1 – Toyota

Toyota has been dominating the automobile industry for over a decade now. The world’s largest automaker is on the top of the list even after their market cap fell by 13.9% in the past three years. Toyota Prius is their top selling model with more than 10 million units sold till date. The auto manufacturer has a market cap of $157 billion, which is nearly three times the size of the car company 5th on our list. The automotive company is also the world’s largest hybrid electric vehicle seller with the popular Prius and Camry model available in hybrid electric form.

 #2 – Daimler AG

You may have guessed Volkswagen or General Motors to take this spot, but the recent success of Daimler AG, owner of luxury Mercedes-Benz brand, means they make the number two spot. It is the largest German automaker selling about 3 million vehicles last year. Their luxury brand Mercedes-Benz itself sold around 2.3 million cars in the same period registering an increase of 9.9%. Alongside luxury sedans, the auto manufacturer offers smart cars, trucks, buses, coaches, camper vans, and other mobility services.

Top Automotive Companies Across the World#3 – Volkswagen

One of the top automotive companies in the world, the Volkswagen Group, includes a host of top car brands in the world including Audi, Bentley, Lamborghini, and Porsche. The company is experiencing phenomenal growth with a 4% year-over-year sales increment. At the same rate, it is expected to be the leading auto manufacturer surpassing Toyota very soon. The company sold 6 million units in the year 2016 with VW brand’s Jetta, Bora, and Vento amongst the best-selling brand.

#4 – BMW

The luxury car manufacturer has moved up the ranks significantly in the last few years with sales of over 2 million units in the year 2017. The company is actively contributing to the environmental sustainability by focusing its effort towards BMW I, a plug-in electric vehicle. Furthermore, the company has significant motorsport history especially in touring cars, sports cars, Formula One, and Isle of Man TT. BMW 3 series is their top selling model with the company reporting sales of over 70,000 in the year 2016.

#5 – Tesla

Although a newcomer in the top 5 listing, Tesla has been making headlines with its launch of Model 3 and Tesla Roadster last year. Tesla completely revolutionized the electric vehicle industry and redefined performance of electric cars. For instance, their electric sports car Tesla Roadster can do 0-60 in 1.9 seconds and provides an impressive range of 620 miles, touching a top speed of 250+mph. Tesla’s CEO, Elon Musk, is a renowned public figure and also manages Space X. The company sold more than 100,00 Model S sedans and Model X SUVs in 2017.

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