Despite the economic headwinds that pushed many businesses into recording losses, the global automobile industry remained bullish in 2023.
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.
These countries manufactured automobile products such as passenger cars, light commercial vehicles, minibuses, trucks, buses, and coaches.
Here are the 10 biggest automobile manufacturing countries of the world according to the volume of vehicles produced last year.
China
China emerged as the biggest automobile manufacturing country in the world with a total production of 30,160,966 units of vehicles. The volume of vehicles increased by 3,140,351 units representing 11.6 percent growth compared to 27,020,615 vehicles produced in 2022.
China has Central and local government-owned vehicle manufacturing firms and privately owned auto firms.
In the 2020s, the automobile industry in China started experiencing a rise in market dominance with a growing focus on areas such as electric vehicle technology and advanced assisted driving systems.
The country is home to notable auto brands including SAIC, Chery, BYD, BAIC, GAC, JAC, Geely, Dongfeng, FAW, Changan, GWM and others.
United States
The United States is the second biggest auto manufacturing country with a volume of 10,611,555. This represents about 5.5 percent growth compared to the 10,060,339 produced in 2022.
America, which is home to big names including General Motors, Ford, Tesla and Chrysler.
Tesla, an electric automaker came onto the scene in 2009 and has since grown to be one of the world’s most valuable companies, producing around one-quarter of the world’s fully electric passenger cars.
Japan
Japan ranked as the third biggest automobile-producing country in the world with a total volume of 8,997,440 vehicles manufactured within the period under review.
The volume grew by 14.8 percent compared to the 7,835,519 produced in 2022.
Japan’s automotive industry is one of the most prominent and largest industries in the world. The country is home to several car-producing companies, construction vehicles, motorcycles, ATVs, and engines.
Japanese automotive manufacturers include Toyota, Honda, Daihatsu, Nissan, Suzuki, Mazda, Mitsubishi, Subaru, Isuzu, Hino, Kawasaki, Yamaha, and Mitsuoka. Infiniti, Acura, and Lexus are luxury brands of Nissan, Honda, and Toyota, respectively.
India
India is the fourth-largest automobile-producing country with a total number of 5,851,507 manufactured last year. The volume of vehicles grew by 7.2 percent compared to 5,456,857 vehicles produced in 2022.
Its major auto manufacturing companies include Maruti Suzuki, Hyundai Motor India, Tata Motors, Ashok Leyland, Mahindra & Mahindra, Force Motors, Tractors and Farm Equipment Limited, Eicher Motors, Royal Enfield, Sonalika Tractors, Hindustan Motors, Hradyesh, ICML, Kerala Automobiles Limited, Reva, JSW MG Motor India, Premier, Tara International and Vehicle Factory Jabalpur.
South Korea
South Korea is the fifth-largest auto-producing country in the world and the sixth-largest by automobile export volume.
South Korea manufactured a total of 4,244,000 vehicles representing a growth of 13 percent from a total of 3,757,049 vehicles produced in 2022.
Major South Korean automobile manufacturers include GM Korea, Hyundai Motor Group and its affiliate, Kia Corporation along with Renault Korea Motors.
Germany
Germany is the sixth biggest auto manufacturer in the world with a total production volume of 4,109,371, representing a growth of 11.7 percent compared to 3,677,820 vehicles produced in 2022.
It is home to modern car brands including Mercedes-Benz, BMW, Volkswagen, Audi, Porsche, Borgward, Opel, and Alpina among others.
The German automobile industry is regarded as one of the most competitive and innovative in the world, and it has the third-highest car production in the world and fourth-highest total motor vehicle production.
Mexico
Mexico is the seventh largest automobile manufacturing company in the world with a total volume of 4,002,047 compared to 3,509,072 posted in the previous year. It shows a growth of about 14.1 percent in the year under review.
The automotive sector accounts for 17.6 percent of Mexico’s manufacturing sector. It ranks as the second largest automobile manufacturing nation in the Western Hemisphere, after the United States, having produced 4 million vehicles in 2017.
The industry produces technologically complex components and engages in research and development. The three biggest players are General Motors, Ford and Chrysler. Volkswagen and Nissan built their plants in the 1960s.
Spain
Spain is the world’s eighth-biggest auto manufacturing country with a total production volume of 2,451,221 amounting to 10.4 percent growth compared to 2,219,462 produced in the previous year.
There are 13 car factories located in Spain which are supported by a thriving local car components industry.
In 2015, Spain produced 2.7 million cars which made it the eighth largest automobile producer country in the world and the 2nd largest car manufacturer in Europe after Germany, a position in the ranking that it was still keeping in 2024.
Approximately 80 percent of that production is for export. The main manufacturers in Spain are Mercedes-Benz Group AG, Ford, Stellantis, Renault, SEAT and, Volkswagen.
Brazil
Brazil is the ninth biggest auto producer in the world with a total volume of 2,324,838 amounting to a decline of about 1.9 percent compared to the 2,369,769 vehicles built a year before.
Most large global automotive companies are present in Brazil, and they include BMW, BYD, Chery, Fiat, Ford, Geely, General Motors, Honda, Hyundai, JAC Motors, Kia, Land Rover, Lexus, Lifan, Mercedes-Benz, Mitsubishi, Nissan Motors, Renault, Stellantis, Subaru, Toyota, Volkswagen, Volvo Trucks, among others. Others are Agrale, Marcopolo, Randon, and more.
Thailand
Thailand became the tenth biggest producer of automobiles in the world with a total volume of 1,841,663 vehicles representing a 2.2 percent drop in volume compared to 1,883,515 vehicles produced in 2022.
Most of the vehicles built in Thailand are developed and licensed by foreign producers, mainly Japanese, American and Chinese but with several other brands as well for CKD production, notably BMW and Mercedes.
Thailand is one of the world’s biggest markets for pickup trucks with over 50 percent market share for one-ton trucks.
Join BusinessDay whatsapp Channel, to stay up to date
Open In Whatsapp
