Vehicles play an essential role in the appropriate functioning of society. Vehicles serve many purposes; from the movement of people and goods from place to place, a status symbol, and protection in the case of armored vehicles.
There are a lot of vehicle manufacturing companies scattered all around the world, some produce luxurious cars, others produce more utility cars, and a group represents the best of both worlds. This list contains 5 of the largest car manufacturing companies in the world based on their statistics for the year 2020. Most of the cars are Japanese, German, and the United States.
1. Volkswagen Group:
The Volkswagen group is a German auto-manufacturing group that was founded in 1937. Volkswagen is an umbrella company for some other brands. The brands include Audi, Bentley Motors, Bugatti Automobiles, Lamborghini, MAN SE, Porsche, SEAT, and Škoda Auto among others. In 2020, it made a revenue of $254.6 billion, with a net income of $9.5 billion. Popular production lines under Volkswagen include the Beetle, Jetta, Golf, and Passat among others.
2.Toyota motor corporation:
The Toyota manufacturing company has been at the top of the list for a while, until Volkswagen took over a few years ago, pushing it into second place. Toyota is a renowned Japanese auto manufacturer, producing a large collection of cars, ranging from the Corolla, Prius, Rav4, Highlander, and Prado among others. It also has Lexus as its luxurious division. In 2020, it had a revenue of $255.8 billion, and a net income of $19.4 billion.
3. Daimler group:
The Daimler group is a German auto-manufacturing group that was established in 1886. It is an umbrella name for many renowned brands. Some of the brands are Mercedes-Benz, Detroit Diesel, Mitsubishi Fuso, Mercedes-AMG, and Smart Automobile among others. Daimler made a revenue of $174.2 billion in revenue in 2020, with a $2.9 billion net income.
Ford motors was established in 1903 by Henry Ford and grew into a stronghold in the automobile industry. It is the largest car manufacturing company in the United States. Some of the prominent vehicle lines under the brand are Fusion, Edge, Escape, and the all-popular Ford Mustang. In 2020, Ford had revenue of $127 billion, and a revenue of $1.2 billion.
5. Honda Motors:
Honda was established in 1948, and has blossomed into the second largest car manufacturing company in Japan. In 1986, it released its luxury brand – Acura and was the first car company to do so. Some of the production lines under Honda include Civic, Accord, and Fit among others. Honda had revenue of $123.8 billion and a net income of $4.1 billion in 2020.
The car manufacturing industry has been dominated by German, the United States, and Japanese-built vehicles. Recently cars made in Italy like the Fiat Chrysler and South Korea like the Hyundai are beginning to achieve great feats in terms of numbers.