At about 16.8 percent, General Motors (GM) held a significant portion of the U.S. market in 2024. However, over the course of the last two decades, GM has lost a considerable amount of market share, which stood at about 28 percent some 19 years ago. The company   General Motors is a multinational company headquartered in Detroit and is ranked among the leading automobile manufacturers worldwide based on revenue. GM has had some variability in the number of cars sold worldwide with a decline in recent years, especially after selling the Opel and Vauxhall brands to PSA. However, GM's financial statements indicate that there has been a recent increase in income globally, with 2024 having the highest sales revenue. The company's revenue had started to drop significantly in 2019, but by 2023, the company had recovered from the financial impact of the COVID-19 pandemic and supply chain shortages. GM includes many brands such as Chevrolet, Buick, GMC, Cadillac, and several other companies. The global automotive industry   The global automotive industry is facing new challenges with the advent of smart technology. The recent decade has seen the greatest production volume of cars and commercial vehicles around the world, but the COVID-19 pandemic and global automotive chip shortage have led to production halts and to a steep decrease in the global automotive output. By 2024, the industry had started to recover from these challenges.

At around 16.8 percent, General Motors held the largest share of the auto market in the United States in 2024. General Motors remained the most successful automotive manufacturer in the United States. Between 2004 and 2021, however, the manufacturer lost market share, while that of Toyota rose as a result of an increased focus on light truck models in the lineup. This shifted in 2022, but 2023 led to another slight drop in market share of the American automaker. Asian manufacturers dominate non-domestic competition Among the non-domestic manufacturers, Asian automakers proved to be the most successful group. Asian car brands selling vehicles to customers in the United States include Toyota, Honda, Nissan, Hyundai, and Subaru. Toyota was also among the most valuable automotive brands worldwide as of June 2024. Both Toyota and Lexus were among the ten brands with the highest consumer satisfaction in the United States that same year. How many brands do auto manufacturers own? General Motors, Ford, and Toyota are the leading automotive manufacturers based on market share in the United States. The Ford Motor Company mainly sells vehicles under its namesake brand, while the Toyota Motor Corporation offers several brands, including Lexus and Toyota. General Motors sells vehicles under various brands, including Chevrolet, Buick, and GMC. In 2017, GM and PSA Group closed a deal in which the French carmaker acquired GM's Opel and Vauxhall brands.

General Motors was the market leader in terms of U.S. light vehicle sales in 2024. Between January and December 2024, consumers in the United States bought around 2.7 million GM vehicles, making General Motors the producer of approximately 16.8 percent of the automobiles sold in the U.S. during that time.  Rebounding after a pandemic-related dip U.S. light-vehicle sales are stalling: the U.S. automotive industry sold roughly 15.86 million light vehicles between January and December 2024. This compares to about 15.5 million units one year before and close to 17 million vehicles in 2019. The trend is slightly different for America’s most popular manufacturer. GM’s global light vehicle sales declined in 2024, compared with the figures reported for the same twelve months in 2023. The U.S. automotive industry had several good years between 2015 and 2018, when consumers purchased more than 17 million light vehicles annually for an unprecedented four years in a row. This stellar spell came to an end in 2019. Slowing economies and the COVID-19 pandemic had a strong negative effect on vehicle production and consumption. The U.S. auto market had high hopes for a V-shaped recovery in 2021 and 2022, but the reality was different. Light vehicle sales in North America dropped to 16.4 million in 2022, after encouraging sales in 2021. The regional market was growing in 2024, but had yet to reach pre-pandemic levels. A competitive market The automobile market in the United States is a competitive space, with Toyota Motor trailing General Motors in the ranking. Chevrolet, a division of General Motors, recorded the second-best initial quality in the U.S. as of May 2024. It was preceded by Ram. Lexus, a subsidiary of Toyota, ranked eigth in this quality ranking but sixth in overall U.S. consumer satisfaction in 2024, with an index score three points above its main luxury car competitor, BMW. General Motors brands were at a similar position in the ranking, with the automaker's Cadillac brand earning the same index score as Lexus.

In 2023, General Motors accounted for nearly 15.8 percent of new passenger cars sold in Brazil, down from a share of 16.8 percent a year earlier. Due to this decline, GM was overtaken by Volkswagen and Fiat as the leading brands for passenger car sales in Brazil that year.

General Motors reported $56.79B in Market Capitalization this June of 2025, considering the latest stock price and the number of outstanding shares.Data for General Motors | GM - Market Capitalization including historical, tables and charts were last updated by Trading Economics this last June in 2025.

The North American automotive industry, valued at $0.99 million in 2025 (assuming this figure represents a segment of the overall market, not the total), is projected to experience robust growth, driven by several key factors. A Compound Annual Growth Rate (CAGR) of 5.43% from 2025 to 2033 suggests a significant expansion in market size over the forecast period. This growth is fueled by increasing consumer spending on vehicles, particularly in passenger cars and light commercial vehicles, spurred by economic recovery and favorable financing options. The rising adoption of electric and hybrid vehicles, coupled with advancements in autonomous driving technology, represents a significant trend shaping the industry's trajectory. However, challenges remain, including supply chain disruptions which continue to impact production and pricing, rising raw material costs, and evolving consumer preferences that demand greater fuel efficiency and sustainable manufacturing practices. The market segmentation reveals significant variation in growth across vehicle types, with passenger cars and light commercial vehicles potentially outpacing growth in heavier commercial vehicles and two-wheelers due to differing economic sensitivities and technological advancements. Geographic distribution also plays a significant role, with the United States likely dominating the market share given its larger economy and vehicle ownership trends compared to Canada and the rest of North America. Major players like Fiat Chrysler Automobiles, General Motors, Ford, Toyota, and Tesla are strategically positioning themselves to capitalize on these emerging trends, investing heavily in electric vehicle (EV) development, innovative technologies, and sustainable manufacturing. The competitive landscape is fierce, with ongoing mergers, acquisitions, and strategic partnerships shaping the industry's structure. The forecast period will likely witness a consolidation of market share amongst the larger players, potentially leading to some smaller manufacturers exiting the market or being acquired. Furthermore, government regulations promoting clean energy and reducing emissions will significantly impact the industry's product offerings and manufacturing processes in the coming years. The consistent growth projected indicates a positive outlook, but the industry must adapt proactively to the challenges to maintain its momentum. This comprehensive report provides a detailed analysis of the North America automotive industry, encompassing the historical period (2019-2024), base year (2025), and forecast period (2025-2033). The study covers passenger cars, light commercial vehicles (LCVs), medium and heavy commercial vehicles (M&HCVs), and two-wheelers across the United States, Canada, and the Rest of North America. With a focus on market size (in million units), key players, and emerging trends, this report is an essential resource for businesses, investors, and policymakers seeking to understand this dynamic sector. Search terms used include: North America automotive market, automotive industry trends, electric vehicle market, commercial vehicle sales, passenger car sales, US automotive industry, Canadian automotive market. Recent developments include: July 2022: Cadillac unveiled the Celestiq show car, a vision of innovation that previews the brand's future handcrafted and all-electric flagship sedan. The Ultium-based electric show car previews some of the materials, innovative technologies, and hand-crafted attention to detail harnessed to express Cadillac's vision for the future., July 2022: Amazon began deploying its custom electric delivery vehicles from Rivian for package delivery, with the electric vehicles hitting the road in Baltimore, Chicago, Dallas, Kansas City, Nashville, Phoenix, San Diego, Seattle, and St. Louis, among other cities., January 2022: Tesla Inc. had a supply agreement with Talon Metals Corp., a subsidiary of Talon Nickel LLC, for the supply of nickel. This agreement will lead to the production of battery material from mine to battery cathode in order to make the electric vehicle battery more eco-friendly.. Key drivers for this market are: Growing Travel and Tourism Industry is Driving the Car Rental Market. Potential restraints include: Increasing Popularity of Ride-Sharing Services Pose Challenges for the Conventional Car Rental Market. Notable trends are: Rising Electric Mobility to Drive Demand in the Market.

The United States was the largest single target market for General Motors in 2023. During that fiscal year, the Detroit company and its associations sold some 2.1 million motor vehicles to customers in China, the world’s largest automobile market. Overall, GM’s dealers, distributors, and joint ventures reported vehicle sales of some 6.2 million units, almost 4.7 million of which occurred in China and the United States.

 Ownership cap  

China began to deregulate its automotive sector in the mid-1990s but prohibited foreign firms from owning more than 50 percent of stakes in joint ventures. General Motors joined forces with Shanghai-based SAIC on June 12, 1997. The SAIC Motor Corporation, which is also involved in a partnership with Volkswagen, was the leading automobile manufacturer in China in 2021 with car sales of nearly 2.8 million units. Currently, the SAIC-GM joint venture sells vehicles under the Buick, Chevrolet, and Cadillac brands. General Motors also sells commercial vehicles in collaboration with the Changchun-headquartered automotive manufacturing company FAW Group Corporation.

The global passenger car market is experiencing robust growth, projected to reach a substantial market size. While the exact 2025 market size is not provided, considering typical market sizes for this sector and the provided timeframe (2019-2033), a reasonable estimate for the 2025 market value could be in the range of $2 trillion to $2.5 trillion. This is based on the general understanding of the automotive market's size and considering factors like production numbers, average vehicle prices, and global economic conditions. The market's Compound Annual Growth Rate (CAGR) over the forecast period (2025-2033), while not explicitly stated, is likely to be in the range of 3-5%, driven by several key factors. These drivers include rising disposable incomes in emerging economies, increasing urbanization leading to greater demand for personal transportation, and ongoing technological advancements in vehicle design and fuel efficiency, including the rise of electric vehicles. Furthermore, the evolving preferences towards SUVs and crossovers within the passenger car segment is contributing to market expansion. However, factors such as stringent emission regulations, fluctuating fuel prices, and potential economic downturns could act as restraints on market growth. The market is segmented by vehicle type (Sport Utility Vehicle, passenger cars, others) and application (individual, commercial), offering opportunities for specialized players. Key players such as General Motors, SAIC, Volkswagen, and others are actively competing in this dynamic market, focusing on innovation and expansion to meet evolving customer demands. The geographical distribution of the passenger car market presents varied growth prospects. Regions such as Asia Pacific, particularly China and India, are anticipated to exhibit strong growth fueled by rapid economic development and increasing vehicle ownership. North America and Europe, while mature markets, continue to showcase significant demand, driven by replacement cycles and the adoption of advanced vehicle technologies. Conversely, regions with slower economic growth or infrastructure limitations may experience slower growth rates. The competitive landscape is characterized by a mix of established global manufacturers and emerging local players, leading to ongoing innovation and price competition. The market's future trajectory will significantly depend on the interplay of these factors – economic growth, regulatory landscapes, technological advancements, and shifts in consumer preferences across various geographical locations.

The global small family car market is experiencing robust growth, projected to reach a market size of $250 billion by 2025, with a Compound Annual Growth Rate (CAGR) of 5% from 2025 to 2033. This expansion is driven by several key factors. Rising urbanization in developing economies fuels increased demand for affordable and fuel-efficient transportation, making small family cars a popular choice. Moreover, growing environmental concerns are prompting consumers to opt for smaller vehicles with lower carbon emissions, thereby boosting the market. Technological advancements, such as the integration of advanced safety features and infotainment systems, are also contributing to market growth. The market is segmented by vehicle type (two-compartment and three-compartment cars) and application (home and commercial use). While the home segment currently dominates, the commercial sector shows potential for significant growth in the coming years, particularly in ride-sharing and fleet operations. Leading manufacturers, including Toyota, Honda, Volkswagen, and General Motors, are continuously investing in research and development to enhance vehicle features and improve fuel economy, further driving market expansion. Despite the positive outlook, the market faces challenges. Fluctuations in fuel prices and the increasing cost of raw materials could impact production costs and consumer affordability. Stringent emission regulations in various regions present another hurdle for manufacturers, requiring significant investment in cleaner technologies. Competition amongst established players and the emergence of new electric vehicle (EV) manufacturers also poses a significant challenge to the traditional small family car market. Nevertheless, the long-term growth trajectory of the small family car segment remains positive, fueled by increasing demand in emerging markets and continuous technological advancements focused on efficiency, safety, and sustainability. The market is expected to witness a gradual shift towards electric and hybrid small family cars in the forecast period.

The global commercial and passenger automotive market is experiencing robust growth, projected to reach a market size of $2.5 trillion in 2025 and exhibiting a Compound Annual Growth Rate (CAGR) of 5% from 2025 to 2033. This expansion is driven by several key factors, including rising disposable incomes in emerging economies, increasing urbanization leading to higher personal vehicle ownership, and the ongoing shift towards electric and hybrid vehicles fueled by environmental concerns and government incentives. Technological advancements, such as autonomous driving capabilities and connected car features, are further enhancing the appeal of new vehicles and driving market growth. However, the market faces certain restraints, including the fluctuating prices of raw materials (particularly metals used in manufacturing), global supply chain disruptions, and the potential for economic downturns to impact consumer spending on automobiles. Segment-wise, the passenger vehicle segment currently holds a larger market share compared to the commercial vehicle segment, driven by strong consumer demand for personal vehicles. Within application, the individual segment dominates, reflecting the significant contribution of personal vehicle purchases to the overall market value. Geographic analysis reveals that North America and Asia Pacific are the leading regions, accounting for a significant portion of the global market, although growth is also seen in other regions such as Europe and the Middle East and Africa. Key players include established giants like Toyota, Volkswagen, and General Motors, alongside emerging electric vehicle manufacturers like Tesla. The competitive landscape is dynamic and characterized by intense innovation and strategic partnerships. The forecast period of 2025-2033 anticipates continued growth, albeit at a potentially moderating pace as market saturation in developed regions begins to take effect. However, the expansion of the automotive market in developing economies and the continued evolution of vehicle technology will ensure sustained expansion. Factors such as stricter emission regulations, the development of charging infrastructure, and the increasing affordability of electric vehicles will significantly shape the market trajectory in the coming years. The market's growth is further influenced by macroeconomic conditions, such as interest rates, fuel prices, and governmental policies supporting sustainable transportation. The ongoing development of autonomous driving technology presents both challenges and opportunities, demanding significant investments in research and development while potentially transforming the automotive industry landscape.

General Motors encounters a $5 billion setback in China due to diminishing market share and local competition, prompting strategic shifts.

In 2023, Ford’s U.S. market share was around 13 percent, trailing General Motors and Toyota Motor. As the two largest U.S. manufacturers, Ford and GM are relentless competitors in the global automobile industry.

The global motor vehicle consumption market, valued at $2,168,710 million in 2025, is projected to experience steady growth, with a compound annual growth rate (CAGR) of 3.0% from 2025 to 2033. This growth is driven by several factors, including increasing global population and urbanization, leading to higher demand for personal and commercial transportation. Rising disposable incomes in developing economies, particularly in Asia-Pacific, are further fueling market expansion. Technological advancements, such as the development of electric vehicles (EVs) and autonomous driving systems, are reshaping the automotive landscape, presenting both opportunities and challenges for manufacturers. Government regulations promoting fuel efficiency and emission reduction are also influencing market dynamics, pushing manufacturers towards greener technologies. The market is segmented by vehicle type (cars, buses, trucks, motorcycles) and application (household, commercial), with the car segment holding the largest market share. Key players like Toyota, Volkswagen Group, Daimler, and others are investing heavily in research and development to maintain their competitive edge in this evolving market. The market’s growth is not without its constraints. Fluctuations in fuel prices and raw material costs can impact production and pricing, affecting consumer demand. Economic downturns and geopolitical instability can also create uncertainty, potentially slowing market growth. Competition within the industry remains intense, with manufacturers continuously striving for innovation and efficiency to capture market share. Regional variations in growth rates are expected, with Asia-Pacific anticipated to be a significant growth driver due to the increasing demand from emerging economies like India and China. North America and Europe, while mature markets, will also contribute significantly to the overall market value due to replacement demand and technological upgrades. The successful navigation of these challenges and the strategic adaptation to changing consumer preferences will be critical for sustained growth in the motor vehicle consumption market over the forecast period.

The South American automotive market, valued at $25.12 billion in 2025, is projected to experience robust growth, driven by increasing disposable incomes, expanding middle class, and government initiatives promoting infrastructure development. This growth is further fueled by the rising demand for passenger cars, particularly in urban areas, coupled with a growing preference for fuel-efficient and eco-friendly vehicles, including electric vehicles (EVs). While the market faces challenges such as economic volatility in certain countries and the fluctuating prices of raw materials, the overall outlook remains positive. The CAGR of 8.60% suggests a significant expansion of the market over the forecast period (2025-2033), with substantial opportunities for both established automotive manufacturers and new entrants. The segment analysis reveals a diversified market, with passenger cars holding a significant share, followed by commercial vehicles and two-wheelers. The shift towards electric vehicles is expected to be gradual, yet significant, influenced by government policies aimed at promoting sustainable transportation and increasing consumer awareness about environmental concerns. Brazil, Argentina, and Colombia are projected to be the key growth drivers within the region. The competitive landscape is characterized by the presence of both global and regional automotive players. Major international manufacturers like General Motors, Toyota, Volkswagen, and others are well-established, while regional players continue to compete in specific segments. Strategic partnerships, investments in research and development (R&D), and localization strategies are vital for success in this dynamic market. The forecast period will see increased focus on technological advancements, including the integration of advanced driver-assistance systems (ADAS) and connected car technologies, to cater to evolving consumer preferences and enhance the overall driving experience. The market's growth trajectory depends on various factors, including the stability of regional economies, favorable government regulations, and the pace of technological innovations, specifically regarding EV adoption and infrastructure development. Recent developments include: March 2024: Car manufacturers made announcements suggesting investments exceeding BRL 117 billion (USD 23.48 billion) in Brazil, primarily directed toward the production of vehicles equipped with decarbonization technologies, with a particular focus on hybrid models., February 2024: According to representatives from the National Association of Automobile Manufacturers (Anfavea), the Brazilian automotive industry is set to receive a substantial boost, with investments totaling USD 20 billion (BRL 100 billion) anticipated by 2029., July 2023: In Argentina, the government announced that it anticipates the inauguration of its inaugural lithium-ion battery plant by September, utilizing locally extracted and processed lithium carbonate provided by US mining company Livent Corporation.. Key drivers for this market are: Economic Growth and Stability. Potential restraints include: Economic Growth and Stability. Notable trends are: Brazil, Argentina, and Mexico to Drive the Market.

[Keywords] Market include SAIC, Daimler, Ford, PSA Peugeot Citroen, Fiat Chrysler

The used and refurbished car market is experiencing robust growth, driven by increasing consumer preference for affordability and the rising cost of new vehicles. This segment offers significant value propositions, including lower purchase prices, reduced depreciation, and a wider selection of models and features compared to the new car market. Factors such as the rising popularity of online car marketplaces, improved vehicle refurbishment technologies, and extended vehicle warranties are further fueling market expansion. While economic downturns can temporarily impact sales, the long-term outlook remains positive, supported by a consistent demand for pre-owned vehicles across various segments, including gasoline, diesel, and alternative fuel options like CNG and LPG. The diverse application segments, spanning franchise dealerships, independent sellers, and online platforms, contribute to the market's dynamism and accessibility. Leading players like General Motors, Toyota, and CarMax are leveraging technological advancements and strategic partnerships to enhance the customer experience and capture market share within this rapidly evolving landscape. Geographic variations exist, with North America and Europe currently holding substantial market shares, although Asia Pacific shows significant growth potential due to expanding middle-class populations and increasing vehicle ownership rates. The competitive landscape is characterized by a mix of established automotive manufacturers, large dealership groups, and online platforms. Successful strategies involve leveraging data analytics for precise pricing and inventory management, offering flexible financing options, and providing comprehensive vehicle history reports to build consumer trust. Challenges include managing the complexities of used vehicle quality control, ensuring transparent pricing, and mitigating the risks associated with potential mechanical issues. The industry is actively addressing these challenges through advancements in vehicle inspection technologies and the development of more robust certification programs. Future growth will likely be shaped by the increasing integration of electric and hybrid vehicles into the used car market, along with the adoption of innovative sales and service models that leverage technology to improve the customer journey. Sustainable practices within refurbishment processes, aiming to reduce environmental impact, will also become increasingly important.

The North American connected car market is experiencing robust growth, driven by increasing vehicle production, rising consumer demand for advanced infotainment and safety features, and the expanding adoption of 5G technology. The market's Compound Annual Growth Rate (CAGR) exceeding 25% indicates a significant upward trajectory. Key drivers include the increasing integration of telematics, driver-assistance systems (ADAS), and V2X (Vehicle-to-Everything) communication technologies. The preference for enhanced safety features, such as automated emergency braking and lane-keeping assist, further fuels market expansion. The integration of smartphones and seamless connectivity is a major consumer pull factor, alongside the growing demand for personalized infotainment experiences, including streaming services and cloud-based applications. While the initial investment costs associated with implementing connected car technologies present a restraint, the long-term benefits in terms of safety, efficiency, and enhanced user experience outweigh this barrier, especially for premium vehicle segments. Passenger cars currently dominate the market, but increasing adoption in commercial vehicles, especially in fleet management and logistics, is expected to contribute significantly to future growth. North America's robust automotive industry and well-developed infrastructure provide a fertile ground for connected car technology deployment. The segmentation within the North American market reveals a strong emphasis on 5G technology adoption, although 4G/LTE remains prevalent for the foreseeable future. Driver assistance systems are seeing the most significant uptake, followed by telematics and infotainment. The prevalence of integrated connectivity solutions reflects the increasing seamlessness of in-car technology. V2V (Vehicle-to-Vehicle) and V2I (Vehicle-to-Infrastructure) communication are experiencing significant growth, driven by government initiatives aimed at improving road safety and traffic management. Leading automotive manufacturers such as Ford, GM, and Tesla are heavily investing in research and development, pushing technological advancements and market expansion. The competitive landscape is characterized by both established automakers and tech companies, driving innovation and accelerating product development cycles. Future growth will likely be influenced by advancements in artificial intelligence, further integration of smart city initiatives, and the continuous evolution of communication protocols. Connected Car Market in North America: A Comprehensive Analysis (2019-2033) This report provides a detailed analysis of the rapidly evolving North American connected car market, offering invaluable insights for stakeholders across the automotive and technology sectors. We cover the period from 2019 to 2033, with a focus on the forecast period of 2025-2033 and a base year of 2025. The market is segmented by technology type (5G, 4G/LTE, 3G, 2G), application type (driver assistance, telematics, infotainment, others), connectivity type (integrated, embedded, tethered), vehicle connectivity type (V2V, V2I, V2P), and vehicle type (passenger cars, commercial vehicles). This report will help you understand the market's dynamics, identify growth opportunities, and make informed strategic decisions. The report uses data expressed in million units. Recent developments include: September, 2022: Ford Motor Co. launched the next-generation Ford F23 Super Duty pickup truck with Ford Pro's suite of software and services to help maximize uptime, accelerate productivity, and lower the cost of ownership., September, 2022: Mercedes-Benz announced integrating Qualcomm's Snapdragon Digital Chassis solutions and Snapdragon Automotive Connectivity Platforms into its passenger vehicles., July, 2022: General Motors' brand OnStar unveiled a new corporate identity and expanded its OnStar Guardian suite of services to motorcycle riders, and integrated the Amazon Alexa voice recognition platform with the Guardian suite of services.. Key drivers for this market are: Government Initiatives and Subsidies Help Boost Electric Rikshaw Sales in India. Potential restraints include: Limited Charging Infrastructure and Range Anxiety May Hamper the Growth of Electric Rikshaw Sales in India. Notable trends are: Growing Adoption of 5G and Telematics to Produce Growth in the Market.

In 2023, the Ford F-150 was the best-selling used car model in the United States. With a market share of 3.3 percent, the F-150 was followed by the Chevrolet Silverado, Chevrolet Equinox, and Ram 1500. Three of these four car models were among the global best-sellers in 2023.

Automobile and light duty motor vehicle manufacturers have contended with many challenges through the current period. Significant technological improvements, particularly regarding hybrid and electric vehicles, internal combustion engine fuel efficiency, infotainment development and autonomous driving capabilities, have spurred global demand from the growing global middle class. Even so, the pandemic led to a monumental slowdown, slashing vehicle demand. Similarly, rampant inflation and climbing interest rates made car buying more expensive, limiting potential growth despite pent-up demand for driving and travel following lockdown restrictions. Regardless, easing interest rates have created new opportunities in consumer markets, contributing to overall growth, despite many quarterly peaks and valleys. Overall, revenue has climbed at an expected CAGR of 2.4% to $364.5 billion through the current period, including a 2.7% jump in 2025, where profit reached 5.4%. Aluminum and steel are significant inputs for most automakers. Most input manufacturers cut production amid the pandemic, leaving automakers with supply chain shortages and long lead times, especially as automotive demand rebounded following the pandemic. Semiconductors and other integral electronic component manufacturers also failed to meet automaker's demand, exacerbating supply chain issues. Despite these issues, manufacturers have successfully pushed costs onto consumers, expanding profit. Many companies have also expressed greater supply chain oversight following disruptions, leading to more nearshoring, vertical integration and strategic partnerships and alliances. Even so, labor strikes, union demands and lingering economic uncertainty have contributed to volatility. Innovation and the economy's recovery will drive growth through the outlook period. Automakers will continue to invest heavily in technology and innovation, making waves with new electric and autonomous driving technologies. Companies will also lean on government support regarding electric and hybrid vehicle technology to generate strong returns and appeal to more consumers. However, the new presidential administration may cut EV rebates and implement new trade policies, potentially hindering the industry's growth outlook. Overall, revenue will expand at an expected CAGR of 1.3% to $410.4 billion through the outlook period, where profit will reach 5.7%.

In 2024, the ranking of the world’s largest car brands was topped by Toyota with a market share of around 10.7 percent. The Toyota brand is owned by Japan's Toyota Motor Corporation, the world's largest motor vehicle manufacturer. New trends in the auto industry In light of growing environmental awareness and increasing efforts to connect vehicles, automotive manufacturers are faced with a variety of new challenges. Market trends such as the shift to lighter materials, as well as the trend towards electric and autonomous vehicles are set to revolutionize the industry. Palo Alto-based Tesla Motors is currently among those at the vanguard of the trend towards electrification, along with the Chinese car manufacturer BYD. Tesla delivered nearly 1.79 million vehicles in 2024, meaning that Volkswagen Group's sales tally is over five times as much. The state of the global auto industry Car sales worldwide have dipped between 2019 and 2020 as a result of the economic downturn generated by the COVID-19 pandemic. 2021 sales recovered, despite remaining below 2019 levels, but supply chain shortages led to a slow recovery of sales in 2022. By the end of 2023, the global car sales volume had grown over pre-pandemic levels. China was the largest automobile market based on new passenger car registrations, recording close to 25.8 million units sold. It was followed by the United States and Europe. China was also the leading passenger car producing country in 2023.