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Top 10 Biggest Car Companies In The World 2024
What are the biggest car companies in the world in 2024? The automotive industry is a vital part of the global economy, producing vehicles that efficiently transport people and goods across nations and entire regions. The largest auto manufacturers have a large global footprint, selling vehicles to consumers and businesses around the world. We take a detailed look at the top 10 biggest car companies in the world by market cap below.
10. Honda
Market Cap: $56.65 billion
Revenue: $136.4 billion
Country: Japan
Honda Motor Co., Ltd. is a Japanese public multinational conglomerate manufacturer of automobiles, motorcycles and battery-powered equipment, headquartered in Minato, Tokyo, Japan. It is one of the top 10 biggest car companies in the world by 2024.
Honda’s market cap is $56.65 billion, making it the 318th most valuable company in the world by market cap.
Honda has been the world’s largest motorcycle manufacturer since 1959, reaching production of 400 million by the end of 2019. It is also the world’s largest manufacturer of internal combustion engines by volume, producing more than 14 million internal combustion engines each year.
Honda was the first Japanese automobile manufacturer to release a dedicated luxury brand, Acura, in 1986. In addition to its main automobile and motorcycle businesses, Honda also manufactures garden equipment, marine engines, personal watercraft, power generators, and other products.
See Also: Fastest Cars In The World
09. Volkswagen
Market Cap: $69.83 billion
Revenue: $335 billion
Country: Germany
Volkswagen is a German automobile manufacturer headquartered in Wolfsburg, Lower Saxony, Germany. It develops and produces light commercial vehicles such as passenger cars, trucks and buses. Vehicle models include Tiguan, Golf, Jetta, Fiat and more. Volkswagen’s most famous luxury brands are Porsche and Audi.
Volkswagen Group is the largest automotive manufacturer by worldwide sales in 2016 and 2017. The group’s largest market is China, which provides 40 percent of its sales and profits. Its name is derived from the German words Volk and Wagen, which together translate to “people’s car”.
08. Ferrari
Market Cap: $70.15 billion
Revenue: $6.2 billion
Country: Italy
Ferrari is an Italian luxury sports car manufacturer based in Maranello, Italy. Ferrari’s market cap is $70.15 billion. Ferrari is one of the largest car makers by market capitalization, valued at approximately US$70 billion. Also, Ferrari is one of the top 10 biggest car companies in the world by 2024.
Founded by Enzo Ferrari in 1939, the company built its first car in 1940, adopted its current name in 1945, and began producing its current line of road cars in 1947.
The company currently offers a large model range that includes several supercars, a grand tourer and an SUV. Many early Ferraris from the 1950s and 1960s are among the most expensive cars ever sold at auction.
Due to the combination of its cars, enthusiast culture and successful licensing deals, in 2019 Ferrari was labelled the world’s strongest brand by financial consultancy brand Finance.
07. BYD
Market Cap: $71.34 billion
Revenue: $82 billion
Country: China
The world’s seventh largest, BYD Auto Co., Ltd. is the automotive subsidiary of publicly listed Chinese multinational manufacturing company BYD Company. The company is headquartered in Shenzhen, China and has operations in more than 70 countries around the world.
It manufactures passenger battery electric vehicles and plug-in hybrid electric vehicles, collectively known as new energy vehicles in China. It also makes battery electric buses and trucks. In addition to its core businesses, BYD also has a significant presence in the renewable energy sector and is a major supplier of solar panels and energy storage systems.
06. BMW
Market Cap: $73.94 billion
Revenue: $163.5 billion
Country: Germany
Bayerische Motoren Werke AG (BMW) is a German multinational manufacturer of luxury vehicles and motorcycles headquartered in Munich, Bavaria, Germany. It is one of the top 10 largest car companies in the world. The company was founded in 1916 as a manufacturer of aircraft engines, which it produced from 1917 to 1918 and again from 1933 to 1945.
Automobiles are marketed under the BMW, Mini and Rolls-Royce brands, and motorcycles are marketed under the BMW Motorrad brand. In 2017, BMW was the world’s fourteenth largest motor vehicle producer with production of 2,279,503 vehicles and is expected to be the sixth largest by revenue in 2024.
BMW is headquartered in Munich and produces motor vehicles in Germany, Brazil, China, India, Mexico, the Netherlands, South Africa, the United Kingdom and the United States. The company has a significant motor-sport history, particularly in touring cars, sports cars and the Isle of Man TT.
See Also: Biggest Companies In The World
05. Stellantis
Market Cap: $77.66 billion
Revenue: $101.3 billion
Country: Netherlands
Stellantis is a multinational automotive manufacturing corporation that was formed in 2021 through the merger of French automaker Group PSA and Italian-American automaker FCA. The company is headquartered in Amsterdam, Netherlands. Stellantis is the fifth largest car company in the world by 2024 by sales.
Additionally, the company is one of the world’s largest automakers with a strong presence in Europe, North America and South America. The company’s stock is listed on the Borsa Italiana, Euronext Paris and the New York Stock Exchange.
04. Mercedes-Benz
Market Cap: $77.66 billion
Revenue: $165.6 billion
Country: Germany
Mercedes-Benz is a German-based multinational automobile manufacturer headquartered in Stuttgart, Baden-Württemberg, Germany. The company manufactures passenger cars, vans, off-road vehicles, and commercial vehicles such as transport trucks and buses.
Mercedes-Benz AG produces consumer luxury vehicles and light commercial vehicles as Mercedes-Benz. In 2018, Mercedes-Benz was the largest brand of premium vehicles in the world, selling 2.31 million passenger cars.
The brand has its origins in Daimler-Motoren-Gesellschaft’s 1901 Mercedes and Carl Benz’s 1886 Benz Patent-Motorwagen, widely considered to be the first internal combustion engine in a self-driving automobile. The brand’s slogan is “The best or nothing”.
03. Porsche
Market Cap: $79.13 billion
Revenue: $44.1 billion
Country: Germany
Porsche is a German car manufacturer specialising in high-performance sports cars, SUVs and sedans, headquartered in Stuttgart, Baden-Württemberg, Germany. The company is owned by Volkswagen AG, with a controlling stake in Porsche Automobil Holding SE.
Porsche’s market cap is $79.13 billion, making it the 201st most valuable company in the world by market cap. Also, Porsche is one of the top 10 biggest car companies in the world in 2024.
In 2009, Porsche reached an agreement with Volkswagen to merge the car manufacturing operations of the two companies to form an ‘Integrated Working Group’. Until 2015, Porsche SE, a holding company spun off from the parent Porsche firm, had a controlling interest in Volkswagen Group, which included Audi and Lamborghini as subsidiaries.
02. Toyota
Market Cap: $306.96 billion
Revenue: $296.6 billion
Country: Japan
Toyota Motor Corporation is a Japanese multinational automotive manufacturer headquartered in Toyota City, Aichi, Japan. It was founded by Kiichiro Toyoda and incorporated on August 28, 1937. Toyota is the world’s largest automobile manufacturer, producing approximately 10 million vehicles per year.
The company was originally founded as a spinoff of Toyota Industries, a machine manufacturer started by Kiichiro’s father Sakichi Toyoda. Both companies are now part of the Toyota Group, one of the largest conglomerates in the world.
Toyota took advantage of the booming Japanese economy to sell cars to the growing middle class, leading to the development of the Toyota Corolla, which became the world’s best-selling automobile of all time. The rapidly growing economy also funded an international expansion that, by 2024, allowed Toyota to become one of the largest car companies in the world, Japan’s largest company, and the world’s ninth largest by revenue.
See Also: Most Expensive Cars In The World
01. Tesla
Market Cap: $636.79 billion
Revenue: $95.9 billion
Country: USA
Tesla is an American multinational automotive and clean energy company headquartered in Austin, Texas. It manufactures and sells electric cars as well as power storage and photovoltaic systems. The company’s goal is to “accelerate the transition to sustainable energy”. The company’s name is based on physicist and inventor Nikola Tesla.
Tesla’s market cap is $636.79 billion, making it the 11th most valuable company in the world by market cap. Also, Tesla is the biggest car company in the world in 2024.
Tesla was incorporated as Tesla Motors in July 2003 by Martin Eberhard and Marc Tarpenning. The company’s name is a tribute to inventor and electrical engineer Nikola Tesla. Elon Musk joined the company as its largest shareholder in February 2004 and was named CEO in 2008.
