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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#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 brands 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 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 listings, 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 the 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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