Automakers produce vehicles that transport people and goods from one point to the other. They manufacture cars, trucks, vans, sport utility vehicles (SUVs), motorcycles, all-terrain vehicles, and commercial vehicles like trucks and buses.
The auto industry is highly competitive, with car companies in Europe, Japan, the United States, and South Korea competing for market share. Volkswagen AG and Toyota are currently the world’s leading passenger car manufacturers.
In 2021, the Toyota Motor Corporation, which was number one on the list, was replaced by Volkswagen AG, the German automaker in 2022. Aside from these two auto giants, there are other automobile companies that made the list and they include:
Volkswagen AG
Volkswagen AG is the world’s biggest auto manufacturer with a revenue of $284.34 billion in 2022. The automaker, which ranked second position in 2021, replaced Toyota Motor Corporation which was previously number one on the list.
The Germany-based automaker produces passenger cars, trucks, and light commercial buses. Some of its popular vehicle models include Tiguan, Golf, Jetta, Passat, and others.
Toyota
Toyota Motor Corporation ended the year with revenue of $270.58 billion and was ranked as the world’s second-biggest automaker. The Japan-based auto manufacturer ranked as the world’s number one in 2021.
Toyota designs and manufactures cars, trucks, minivans, and commercial vehicles. Some of its models of cars include the Corolla, Camry, 4Runner, Tacoma, Land Cruiser, and Rav4. Lexus is Toyota’s luxury car division.
Read also: VON Automobile seeks manufacturing of affordable cars in Nigeria
Stellantis
Stellantis ended as the world’s number three auto manufacturer in 2022 with an annual revenue of $181.58 billion.
The Netherlands-based automaker was created in 2021 through the merger of French automaker Groupe PSA and Italian-American automaker. It has a strong presence in Europe, North America, and South America.
Its range of vehicles includes passenger cars, trucks, vans, and SUVs, under various brands including Peugeot, Citroën, DS, Opel, Vauxhall, Jeep, Ram, Dodge, and Chrysler.
Mercedes Benz AG
Mercedes Benz AG became the world’s fourth biggest automaker in 2022 with an annual revenue of $156.23 billion. The Germany-based car manufactures passenger cars, vans, off-road vehicles, and commercial vehicles like transport trucks and buses.
Its range of cars includes the Mercedes Benz EQE SUV, Mercedes Benz EQE Sedan, Mercedes Benz EQS SUV, Mercedes Benz EQB, Mercedes Benz SL, Mercedes Benz S-Class and Mercedes Benz C-Class among others.
Ford Motor
Ford Motor is the world’s fifth-largest automobile company in the world with an annual revenue of $151.74 billion. The American-based automaker manufactures services cars, SUVs, vans, and trucks including the Mustang, Edge, Escape, F-150, and Ranger among others.
General Motors (GM)
General Motors (GM) is the world’s number sixth-largest automobile company with an annual revenue of $147.21 billion in 2022.
The American-based automaker produces cars, trucks, and automobile parts and has been reckoned as a leader in the electric car market. Its range of cars includes the Chevy Volt and the Chevy Bolt, and it operates under four major vehicle brands: GMC, Chevrolet, Cadillac, and Buick.
Honda Motor
Honda Motor Co. Ltd. ranked as the world’s seventh-largest automaker with an annual revenue of $126.17 billion in 2022. The Japan-based auto brand has a luxury car division known as Acura.
It manufactures passenger cars, trucks, vans, all-terrain vehicles, motorcycles, and related parts. Its range of vehicles includes a Civic, Accord, Pilot, Passport, Odyssey, and others.
Read also: Here are top 6 automobile manufacturers in Africa
Tesla Motors
Tesla Motors (TSLA) ranked as the eighth biggest auto manufacturing company in the world with an annual revenue of $74.86 billion in 2022.
The United States of America-based automaker is known for manufacturing electric cars and its four electric models include Model 3, Model Y, Model S, and Model X.
Nissan Motors
Nissan Motors ranked as the number ninth automobile company in the world with an annual revenue of $73.73 billion in 2022.
It manufactures passenger vehicles and related parts including Altima, Maxima, Sentra, Versa, Pathfinder, Rogue, Titan, and its LEAF electric car. The Japan-based auto company has a luxury division that is known as Infiniti.
BYD Co. Ltd
BYD Co. Ltd is the world’s tenth auto manufacturing company with an annual revenue of $51.37 billion in 2022.
It manufactures a wide range of electric vehicles, batteries, solar panels, and others. The China-based company plays in passenger cars and the commercial vehicle market.
