In 2024, the ranking of the world’s largest car brands was topped by Toyota with a market share of around **** 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 **** million vehicles in 2024, meaning that Volkswagen Group's sales tally is over **** 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 **** million units sold. It was followed by the United States and Europe. China was also the leading passenger car producing country in 2024.

The Volkswagen Group accounted for over ******* of new car registrations in the European market between January and December 2024. That year, the automaker sold some *** million units, roughly *** million units more than the manufacturer's closest rival. Stellantis becomes Europe's second largest auto manufacturer Second-placed Stellantis comprises 14 brands, including Opel and Vauxhall, two brands previously owned by General Motors, in 2017. Stellantis was formed by the merger of FCA and PSA. Incentives offered by the French government fuelled demand in PSA's domestic market, France. However, the French market crumbled in Autumn 2020 and Germany remained as Europe's leading passenger car market. In May 2021, German manufacturers – Volkswagen and peer automakers Daimler and BMW – held just under ** percent of the European market. European car sales collapsed during the pandemic Between January and December 2020, passenger car sales in Europe decreased by about ** percent to roughly ** million units. Sales began to tank mid-March, amid the coronavirus pandemic in Europe. Year-on-year sales were still down ** percent in May 2020, but car sales began to bounce back as economies reopened. Month-on-month sales more than ******* in May and continued on an upward trajectory in June. Sales were back to normal levels in September and October. Outbreaks of COVID-19 in the Autumn of 2020 prevented a positive end to the year for the automotive industry.

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 *** million GM vehicles, making General Motors the producer of approximately **** 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 ***** million light vehicles between January and December 2024. This compares to about **** million units one year before and close to ** 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 ** 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 **** 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 eighth in this quality ranking but sixth in overall U.S. consumer satisfaction in 2024, with an index score ***** 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 2024, Ford was the second most popular car brand in the United Kingdom after Volkswagen. The Detroit-based company sold some ******* vehicles in the UK and reached a market share of about *** percent that year. Volkswagen held some *** percent of the market. Ford in the United Kingdom Brexit casts its shadow over the auto industry, and hence, the company decided to shut down its plant in Bridgend, adding on to the growing list of automakers in the process of ceasing operations at car production plants in the United Kingdom. That said, the Ford Motor Company will remain present in the United Kingdom, continuing to operate an engine plant in Dagenham. Car sales in the United Kingdom were down ** percent in May 2020, due to closed dealerships and consumer spending uncertainty amid the coronavirus pandemic. By the end of December 2020, UK car sales were down by almost eleven percent compared with 2019.

At around **** 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.

Based on sales volume in 2024, Thaco Group was the leading automobile manufacturer in Vietnam. Thaco Group held **** percent share of the market that year, followed by VinFast with **** percent share of the market. Vietnam’s automobile market Despite having a modest car ownership rate, Vietnamese consumers are highly interested in buying a car. Owning a car is regarded as a major investment, almost as desirable as owning a house in Vietnam. Vietnamese consumers' interest in these vehicles comes from the demand for a safer, more convenient, and comfortable transportation mode, as well as the generally positive perceptions associated with car owners among Vietnamese people. The rising middle-class population and improving living standards have led to an increasing demand for cars in Vietnam, especially in big cities. As a result, the number of cars per 1,000 people in the country is expected to witness a consistent increase in the coming years. Truong Hai Auto Corporation – Thaco Group Founded in 1997, Thaco Group is one of the pioneers of the Vietnamese automobile industry. Through its various partnerships, Thaco has the right to produce and distribute a wide range of car models from other internationally well-known brands, including Kia, Mazda, Peugeot, BMW, and MINI. Thanks to its diverse portfolio, Thaco has surpassed the Japanese automobile giant Toyota as the leading car manufacturer in Vietnam in recent years.

Egypt's automotive market is witnessing fierce competition among top brands, with Nissan leading the pack in the first quarter of 2024. The Japanese manufacturer accounted for nearly ** percent of the market share, followed closely by Toyota and Chevrolet. This competitive landscape reflects the broader trends in Africa's automotive industry, where vehicle sales, for instance, have been fluctuating in recent years. African automotive market overview The continent's new vehicle sales reached more than **** million units in 2024, continuing a pattern of fluctuation observed over the past few years. While this marks a modest rise compared to 2023, the overall trend has been shaped by varying economic conditions, shifting consumer preferences, and uneven growth across regional markets. South Africa dominated the market with around ******* vehicles sold, while Morocco and Egypt followed with ******* and ****** units, respectively. These figures underscore the significant variations in market size across different African countries. Trends in vehicle types and exports in Africa The African automotive industry is characterized by strong passenger vehicle sales, with these vehicles making up the majority of the market. In 2024, nearly ******* passenger cars were sold across the continent, compared to around ******* commercial vehicles. This reflects steady consumer demand in countries like Egypt, where brands such as Nissan and Toyota have established significant market presence. Additionally, Morocco has emerged as a key player in the African automotive sector, leading the continent in car exports with a value of approximately *** billion U.S. dollars in 2024. This highlights the region’s growing role in global automotive trade.

In 2023, the automobile manufacturer Toyota held approximately **** percent of the automotive retail sales market in Indonesia. Japanese automotive manufacturers have dominated the Indonesian market and it does not seem to change in the near future.

In 2023, sales of light vehicles of the Japanese car brand Nissan reached nearly ******* units, which represented a share in the Mexican light vehicle market of about **** percent. The second place was held by the American brand Chevrolet reaching a market share of some **** percent.

In 2024, the leading car manufacturer in South Korea was local brand Hyundai Motor Company with around **** percent market share of sales, followed by Kia Corporation. Vehicles manufactured by Kia accounted for about **** percent of automobile sales in South Korea that year. For decades, the car industry has grown exponentially and has also been an indicator of the country’s economic growth. Leading passenger car models Being the home of Hyundai and Kia, it is no surprise that car sales in South Korea are led by domestic automakers. Nevertheless, imported cars can also be seen very commonly. The proportion of imported passenger car registrations has shown significant growth over the years. The most popular imported car brands in South Korea included German automakers such as Mercedes-Benz and BMW. Shift to electric vehicles Survey results found that the majority of South Koreans owned a conventional car. Nevertheless, increased awareness about climate change and various government incentives are driving consumers towards electric mobility in the country. Domestic and foreign carmakers are increasingly focusing on expanding their electric fleet, and it is generally expected that the market will continue to shift away from engines with harmful emissions for the environment.

Between January and June 2023, Toyota was the leading automaker in terms of global vehicle sales with around **** million units sold. This figure represents a year-over-year rise of around *** percent. Global shortages impact the industry Worldwide car sales dipped to **** million units in 2020, before slowly rebounding in 2021 and 2022. The market for light vehicles entered a downward trend in 2019. In light of an ongoing economic slump and the coronavirus outbreak, a growing number of people is expected to hold on to their vehicles for longer. As demand picked up in 2021, the global automotive semiconductor shortage impacted the leading manufacturers, resulting in production cuts and halts. Competitive landscape Toyota was the best-selling automotive brand in 2022, with a global market share above ** percent. However, while Volkswagen held a smaller market share than its Japanese competitor, its parent company—the Volkswagen Group—reported the highest global revenue in 2022, at nearly ** billion U.S. dollars more than Toyota Motor. The Volkswagen Group was also the automotive brand investing the most in its research and development, while Toyota Motor ranked third.

In 2023, Volkswagen was the leading car brand in the UK. Volkswagen sold around ******* cars, making up roughly *** percent of the UK car market share.

With a market share of around 11 percent, Volkswagen leads the passenger car market in Switzerland. Among Swiss residents, German cars consistently sell well, with four of the top-five most sold car brands being German.

Strong demand for luxury brands

Luxury brands fare well in Switzerland. Holding a combined market share of roughly 30 percent, Volkswagen, Mercedes, and BMW each sell on average over 20,000 units in one year, respectively, in the Swiss automobile market. VW models, such as the Tiguan and the Golf also made the top five in terms of best-selling car models in Switzerland.

About Swiss auto sales

Generally, car sales in Switzerland have fluctuated over recent years, oscillating between around 235,000 and 325,000 per year. The strongest year for car sales in Switzerland in the past decade was 2011, when annual sales figures surpassed 328,000. The majority of passenger car segments, from sports cars to large SUVs, observed a considerable drop in sales in 2020, as the global automotive industry tumbled into financial difficulties following the Covid-19 outbreak.

Volkswagen topped the ranking with a roughly ** percent share, followed by Mercedes and BMW. Volkswagen car sales, however, have decreased in recent years.

In 2023, sales of the Italian-American multinational company FCA (now Stellantis) reached nearly ******* units in Brazil, representing a share of roughly *****percent of that market. That same year, Volkswagen held second place, its market share in the country amounting to around **** percent. The Brazilian automotive industry Fiat is one of the best-recognized car brands in the country, a fact reflected by the manufacturer's substantial share of the market. Fiat Strada was the leading passenger car model in Brazil in 2024, with nearly ********sales. The company formerly known as FCA, of which Fiat is a part, owns the largest number of Brazilian motor vehicle dealerships. Although holding the second position when it comes to the number of dealerships and the light vehicle market share ranking, Volkswagen is the leading used passenger car brand in Brazil. The impact of the COVID-19 pandemic The country was severely affected by the COVID-19 pandemic and, as a result, the automotive industry also suffered from its consequences. There were significantly fewer passenger cars and light commercial vehicles assembled in the country, and the number of people employed by the industry, which has fluctuated in recent years, was down again in 2020. Although Brazil finds itself in the middle of an economic and political crisis, marked by high inflation and increasing gasoline prices, the sales of new and used cars have seen an uptick in 2021.

Tesla recorded the highest market share in Hungary among electric vehicle manufacturers, with nearly 31 percent in the first four months of 2024. Nissan came second in the ranking, accounting for approximately 13 percent of the market.

General Motors reached a U.S. market share of around ***** percent in the fourth quarter of 2022, ahead of Toyota Motor by around three points. In the fourth quarter of 2022, GM's U.S. vehicle sales totaled about ******* units, while Toyota sold roughly ******* vehicles in the United States. At around ******* units sold, Stellantis was the leading European manufacturer accounting for **** percent of the market sales.

At about **** 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 ** 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.

In 2022, the number of the passenger cars sold in Vietnam increased to *** thousand units, generating a revenue of *** billion U.S. dollars. The biggest market share of passenger car manufacturers was Toyota with **** percent, followed by Nissan at ** percent.

In 2024, ************ percent of the passenger cars sold in China were from domestic Chinese brands. In recent years, the market share of foregin automotive manufacturers dropped significantly amid the increasing popularity of Chinese car brands, especially in the sector of new energy vehicles.