The automobile sector is growing at a very rapid speed. In terms of revenue, it is one of the largest industries in the world.
Manufacturers are constantly competing to get the top spot in both production and revenue. Many companies are joint ventures, making the classification of top manufacturers complicated. The major manufacturers in the automobile sector are the European, American, Japanese, Korean, and Chinese countries. The basis of comparisons for which company should be placed at the top of the list is endless. Some of them are revenue, market capitalization, and production. Here we will talk about the car companies that have the highest production.
PSA Group: 3,649,742
It is a French multinational car maker. The legal name for this company is Peugeot SA. Its production output is 3.5 million. It generates a net revenue of €74.731 billion.
It is also a France-based company. As it is focused more on the European market, it mostly makes smaller vehicles to suit the narrow streets and roads of Europe. As of 2020, the net revenue of Renault was 3.75 billion euros.
Fiat-Chrysler Automobiles: 4,600,847
In 2009, after Chrysler announced its bankruptcy, the Italian small car manufacturer, Fiat, took it over. In January 2020, the company announced its new name, Stellantis.
The Japan-based company has been the world’s largest manufacturer of automobiles since 1959. It has produced around 400 million motorcycles and 5.2 million cars. It generates 15.36 trillion euros in revenue.
Another Japanese company, Nissan, is a part of the Renault-Nissan-Mitsubishi Alliance. The company’s net revenue was 9.878 trillion euros.
Ford is a US-based manufacturing company. It is one of the few companies that was not bailed out by the government during the Global Financial Crisis in 2009. The current worth of Ford is around 12 billion USD.
General Motors: 6, 856, 800
It is an American automobile manufacturing unit. It is the United States’ largest car manufacturer. Its market is North American-centric. This is the reason GM produces many pickup trucks and SUVs.
Hyundai/ Kia: 7,218,391
Hyundai Motor Group is a South Korean company whose revenue is roughly 224.1 billion USD. Hyundai and Kia, together, are the 6th and 7th most valuable car manufacturers in the world.
Volkswagen Group: 10,382,334
It is a German motor vehicle manufacturer. Its market revenue as of 2020 was 245,600 USD, which makes it the third most valuable unit.
Toyota is a Japanese manufacturer. It is known for making reliable and high-quality cars. It is the second-most valuable car company, just behind Tesla.