The automobile industry has taken a huge leap if we look into the past. There are dozens of companies that have billions of revenue that work in the automobile industry. Moving from petrol and diesel these automobile companies have started moving into electric vehicles which are more efficient and nature friendly. The emergence of new companies has created a lot of variation and competition in the market. Therefore automobile manufacturing companies are trying their best to stand out and grab that top position.
When it comes to being in the top position there are always the big dogs in the industry that have been owning this industry for ages, however, there are some new companies that emerged recently but they have started competing against the giants in a short period of time already like Tesla. While categorizing the top 5 brands, it is not only about the revenue or net worth of the company but their popularity, variation and customer satisfaction.
So, let’s find out the top 5 brands in the automobile industry
Without any doubt, Toyota is one of the biggest and oldest vehicle manufacturers. Since it has a long history that dates back to the nineteenth century, it is a globally known and trusted company. Sakichi Toyoda revolutionized Japan’s textile industry by inventing Japan’s first power loom. Alongside Sakichi Toyoda was Kiichiro who was an innovator in the company. Kiichiro found about the automobile industry in the early 1920s when he visited Europe and the USA. Toyoda sold the patent rights of his automatic loom to Kiichiro and he laid the foundations of Toyota Motor corporation that was established in 1937. Its country of origin is Japan. Toyota has a revenue of $281 billion and a market share of 10.24 %. It has successfully produced around 10.5 million units of vehicles.
We know Volkswagen for being the world’s most successful volume carmakers as the company’s core brand maintains facilities in about 14 countries to produce vehicles for customers in over 150 countries. They established the company on May 28, 1937. Under the control of Adolf Hitler of the National Socialist (Nazi) party, the government formed this state-owned automobile country. I then knew it as GesellschaftzurVorbereitung des DeutschenVolkswagennsmbH. In 2018, Volkswagen Passenger Cars only delivered a record of 6.3 million vehicles worldwide. Its country of origin is Germany. Volkswagen has a revenue of $275 billion and it has a market share of about 7.59%. It has successfully produced around 10.3 million units of vehicles.We know Volkswagen
The established of Ford by Henry Ford in the year 1903, on June 16 in Dearborn Michigan, USA. A global company that designs, manufactures, markets, and services a full line of SUVs, cars, trucks, electric vehicles, and Lincoln luxury vehicles. The company has stepped into electric vehicle manufacturing and also working on self-driving services. The company employs about 200, 000 people worldwide. This company has a revenue of $150 billion and a market share of about 5.59%. It has successfully produced around 6.8 million vehicles.
Honda Motor Co., Soichiro Honda established Ltd, alongside Takeo Fujisawa on September 24, 1948, in Hamamatsu, Shizuoka, Japan. This company started automobile operations later in 1963 with the T60 mini truck and the S500 small sports car. The cars that were made by Honda distributes under Honda trademarks mainly in Japan and/or in overseas markets. With the number of units sold globally may have less compared to other companies but in Asia, it is the one that’s in the top position because 90% of its automobile units sold in Asia. Company say to have produced over 5 million units of vehicles and has a market share of about 5.78%.
Tesla company established comparatively much recently as American entrepreneurs Martin Eberhard and Marc Tarpenning found it in 2003. Besides these two, Elon Musk has a gigantic hand in making this company successful. The name of the company is after a Serbian American inventor Nikola Tesla. Unlike other automobile companies, they involved Tesla in making electric vehicles only.Besides cars, the company also makes solar panels through its SolarCity subsidiary. This 17+ years old company’s worth is now twice as much as centuries-old companies. The market cap of the company stands at around $102.66 Billion. The company has been manufacturing great cars which are ahead in technology, efficient and environment friendly, therefore, it has been gaining popularity. In the electric car market, Tesla owns 79% of the market despite producing only around 200,000 cars until now.
Besides these companies, there are also other companies like General Motors, Daimler AG, BMW, Ferrari, Hyundai, SIAC, Fiat Chrysler Automobiles, and Nissan which are doing great as well.