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 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 the overall growth? Explore them in this article.
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 its 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 the 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.
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