In 2023, some 94 million motor vehicles were produced worldwide. This figure translates into an increase of around 10 percent compared with the previous year. China, Japan, and Germany were among the largest producers of cars and commercial vehicles.
China leads production
China is ranked as the largest passenger car manufacturer in the world, having produced more than 26 million cars in 2023, and accounting for almost one third of the world’s passenger vehicle production. Over the past decades, China has emerged as one of the main growth markets for players in the global automobile industry.
American manufacturers in China
One of China’s largest car manufacturing companies is the joint venture between General Motors and SAIC Motor Corporation Limited, known as Shanghai General Motors Company Ltd or simply Shanghai GM. GM produces and sells passenger vehicles under the Chevrolet and Cadillac brands, among others. Aside from manufacturing cars, the company also produces engines and transmission systems. Shanghai GM’s production amounted to a little over 1.3 million units in 2021.
FAQs
China is the world's largest producer of vehicles, manufacturing more than 21.4 million cars and 4.6 million commercial vehicles in 2021 for a total production of just over 26 million vehicles.
How many cars are made each year worldwide? ›
In 2022, 85.4 million motor vehicles were produced around the world, an increase of 5.7% compared to 2021. In this infographic you will find the number of motor vehicles produced in 2021 and 2022, per world region.
How big is the global automotive industry? ›
The global automotive manufacturing market was worth about 2.86 trillion U.S. dollars in 2021. The market is projected to grow to some 2.95 trillion U.S. dollars in 2022.
What are the top 10 automobile producing countries in the world? ›
The volume of vehicles manufactured globally grew by 10 percent to a total of 93.55 million from 85.02 million in produced in 2022, according to Wikipedia. China took the lead followed by the United States, Japan, India, South Korea, Germany, Mexico, Spain, Brazil and Thailand among others.
What company produces the most cars in the world? ›
Ranking of motor vehicle manufacturers worldwide by global sales 2023. At around 11.2 million units, the Toyota Motor Corporation remained above its largest rival, the Volkswagen Group, as the world's largest manufacturer of motor vehicles. Both manufacturers sell motor vehicles under various brands.
What is the automobile capital of the world? ›
Detroit is known as the 'motor city' and 'automobile capital' of the world.
Who is the world's largest supplier of automotive products? ›
With related revenue of around 52.6 billion euros in its 2022 fiscal year, Bosch was ranked as the world's largest automotive supplier in 2022. Bosch began to rise up through the ranks in 2014 when the company acquired ZF Friedrichshafen's steering systems. This move helped ZF seal a deal to acquire Michigan-based TRW.
What country is the largest automotive export? ›
China Becomes the World's Biggest Auto Exporter—With Help From Russia - WSJ.
Where are most US cars made? ›
The South is now a major player in U.S. automotive manufacturing. Cars.com says just over half of the 2023 AMI vehicles were assembled in the South, which now has automotive manufacturing and assembly operations to rival the Midwest and Detroit's mantle as Motor City.
What is the most expensive car in the world? ›
List of Top 10 Most Expensive Cars in the World in 2024:
| S.No. | Car name | Price (as on 06-06-2024) |
|---|
| 1. | Rolls-Royce La Rose Noire Droptail | ₹267.1 crores |
| 2. | Rolls-Royce Boat Tail | ₹233.7 crores |
| 3. | Bugatti La Voiture Noire | ₹156.2 crores |
| 4. | Pagani Zonda HP Barchetta | ₹146.7 crores |
6 more rowsMajor Chinese car manufacturers include FAW, Dongfeng, Changan, SAIC, Chery, GAC, BAIC, and others. Joint ventures with foreign car companies are significant in China's automotive industry.
Who are the top 3 car manufacturers in the world? ›
The top 10 car companies worldwide
| Company | Revenue (as of H1 2023) | Units sold globally (as of year-end 2022) |
|---|
| 1. Volkswagen AG | $318.32 billion | 8,263,104 |
| 2. Toyota Motor Corporation | $286.15 billion | 10,558,367 |
| 3. Stellantis N.V. | $200.92 billion | 6,002,900 |
| 4. Ford Motor Company | $169.82 billion | 4,235,737 |
6 more rowsJan 26, 2024
For the 14th year in a row, Volkswagen and Toyota held the top two spots as the largest automakers on the Fortune Global 500 list, with the companies bringing in $295.8 billion and $279.3 billion in revenue, respectively, in 2021. Toyota was the largest automaker in 2021; Volkswagen leapfrogged it in 2022.
Who are the big three auto manufacturers? ›
The Big Three in the automotive industry is a reference to the three largest car manufacturers in the United States: General Motors Company (GM), Stellantis (STLA), formerly known as Fiat Chrysler, and Ford Motor Company (F).
