The Top 10 Largest Car Manufacturers in the World Today

Daimler AG, formerly known as Daimler-Benz and DaimlerChrysler, is globally recognized for its luxury vehicle brand, Mercedes-Benz. Headquartered in Stuttgart, Baden-Württemberg, Germany, this multinational corporation ranks as the 4th largest car manufacturer worldwide. Daimler AG is a major player in both the car and truck industries, producing Mercedes-Benz cars and Daimler trucks.

Ranked 13th globally in terms of automotive production, Daimler is also one of Germany's largest companies by revenue. In addition to cars, the company manufactures trucks and offers financial services through its Daimler Financial Services division. Daimler holds stakes in companies like EADS (European Aeronautic Defence and Space Company), McLaren Group, Mitsubishi Fuso Truck and Bus Corporation, and American carmaker Chrysler Holding LLC. While the Maybach luxury brand was discontinued in 2012, it was revived in 2015 as Mercedes-Maybach, offering models like the S-Class and GLS-Class. The Mercedes-Maybach GLS 600 is often compared to Rolls-Royce's Cullinan, sparking discussions on performance, design, and luxury. In 2019, Daimler sold 3.3 million vehicles, and as of 2022, it ranks as the second-largest automaker in Germany and fifth globally based on production volume.

In Vietnam, Mercedes-Benz operates an official assembly plant, making its vehicles more affordable and accessible to consumers, leading to strong sales. Popular models in Vietnam include the C200, C250, and C300.

General Motors, commonly known as GM, is the second-largest automaker globally by total sales. Founded in 1908 in Flint, Michigan, GM employs 266,000 people worldwide, with its headquarters located in the Renaissance Center in Detroit, Michigan, USA.

GM manufactures vehicles in 35 countries, with its European branch based in Zurich, Switzerland. In 2008, GM sold 8.35 million vehicles under brands such as Buick, Cadillac, Chevrolet, GMC, GM Daewoo, Opel, Vauxhall, Holden, Pontiac, Hummer, Saab, Saturn, and Wuling. The company was established as a corporation on September 16, 1908, and underwent a restructuring in 2009, emerging as the largest automaker in the United States and one of the world's top automotive manufacturers. At its peak, General Motors held 50% of the U.S. market share and remained the leading automaker globally from 1931 to 2007. As of 2022, GM ranks 22nd on the Fortune 500 list of the largest U.S. corporations by total revenue. As one of the 'Big Three' automakers in the U.S., General Motors owns prominent brands like Buick, Chevrolet, Cadillac, and GMC. In Vietnam, Chevrolet targets the budget-friendly segment, while Cadillac focuses on the luxury market for high-income consumers.

Popular models include the Chevrolet Cruze, Chevrolet Captiva, and Cadillac Escalade. In 2014, Mary Barra was appointed CEO of General Motors, becoming the first woman in the world to lead a major automaker.

The 6th brand on the list is a name that may be unfamiliar to many in Vietnam: BYD Co. Ltd. (Build Your Dreams), commonly known as BYD. This Chinese automaker is headquartered in Shenzhen, Guangdong, and was founded by Wang Chuanfu in February 1995. Initially known for manufacturing rechargeable batteries, BYD competed with imported batteries from Japan in the Chinese market.

BYD has rapidly grown, dominating half of China's battery market and becoming the largest battery manufacturer in the country. China is one of the largest automotive markets in the world, and according to recent data from the China Passenger Car Association, BYD's electric vehicle sales more than doubled in May compared to the previous year, securing its spot among the top three automakers in this vast market. Beyond being a well-known electric vehicle brand, BYD is also a significant battery manufacturer, supported by Warren Buffett's Berkshire Hathaway. Some of its models are now competing with Tesla in terms of popularity. As of now, BYD not only dominates the new energy vehicle segment (including hybrids and fully electric cars) but has also risen to be one of the top three brands in China for small passenger vehicle sales.

Last year, BYD ranked 13th in total passenger car sales in China. FAW-Volkswagen, SAIC Volkswagen, and SAIC GM occupied the top three positions.

BMW, short for Bayerische Motoren Werke AG (Bavarian Motor Works), was founded in 1916 and is headquartered in Munich, the capital of Bavaria, Germany. Initially, the company developed and produced aircraft engines.

Today, BMW is one of Europe's leading automakers and a global powerhouse. While the brand is renowned for its luxury, sporty, high-performance vehicles, its origins trace back to producing aircraft engines during World War I. After World War II, BMW gradually phased out aircraft engine production and shifted to manufacturing automobiles, motorcycles, and bicycles. BMW currently markets its vehicles under the brands Rolls-Royce, BMW, and Mini. Mini caters to the compact car segment, BMW targets the luxury market for the middle class, and Rolls-Royce is positioned in the ultra-luxury segment, offering models like the Phantom, Ghost, Wraith, Dawn, and recently the Cullinan SUV. Additionally, BMW also produces motorcycles under the BMW Motorrad brand. Since 1998, Rolls-Royce has been part of the BMW family, acquired for $66 million USD. Rolls-Royce became a subsidiary of BMW in 2003 and remains one of the most prestigious luxury brands in the world, known for its craftsmanship, superior quality, and dependability.

Today, BMW operates 30 production facilities across 14 countries, employing 129,932 people. In Vietnam, BMW is a popular brand among the middle class, with models like the BMW 3 Series, BMW 5 Series, BMW 7 Series, and the BMW i8 supercar being particularly sought after.

NIO, one of China's largest electric vehicle manufacturers, has experienced a dramatic turnaround from the brink of bankruptcy to driving forward an expansion plan into Europe and beyond. Headquartered in Shanghai, China, NIO designs, manufactures, and distributes electric vehicles worldwide.

Founded by William Li (Li Bin), the chairman of Bitauto and NextEV, NIO has risen quickly despite being only seven years old. As of 2022, the company ranks 8th among the largest automakers in the world. During the COVID-19 pandemic, NIO secured a $1 billion investment from government-backed organizations, further boosting its position. The company set a delivery record of 3,740 vehicles in June, and by Q2, it had delivered 10,000 units. As of this year, NIO's stock has increased by more than 240%. NIO's first model, the NIO EP9, was a sports coupe, unveiled on the same day the company was founded. In June 2021, NIO received approval from the California DMV to test autonomous vehicles on public roads. Additionally, in August 2018, the company opened its first battery swap station in Shenzhen, Guangdong, China. In May 2021, NIO announced plans to expand into Norway, marking the first step in its European market entry with deliveries to start in September 2021.

Currently, NIO has expanded production to other countries such as the United States, Germany, Hong Kong, and the United Kingdom. The Chinese government also allows companies to sell electric vehicles without batteries, paving the way for NIO's new battery-as-a-service offering, which was launched just last week. NIO's chairman stated that this subscription model helps reduce the upfront cost of purchasing a vehicle, akin to regular fuel costs.

Stellantis was formed following more than a year of negotiations, with Fiat Chrysler Automobiles and Peugeot S.A. officially merging to create a new automotive giant. Despite its recent formation, Stellantis quickly became the fourth-largest automaker in the world, with the financial clout to pivot towards electric vehicles and compete with industry leaders like Toyota and Volkswagen. The company is headquartered in Amsterdam, the Netherlands, and as of May 2021, Stellantis was ranked the ninth-largest car manufacturer globally. Stellantis operates in the design, development, production, and distribution of vehicles under 15 brands, including Abarth, Alfa Romeo, Jeep, Lancia, Maserati, Chrysler, Citroën, Dodge, DS, Fiat, Fiat Professional, Opel, Peugeot, Ram, and Vauxhall. Additionally, the company owns the Mopar brand for automotive parts. Stellantis employs 407,545 people across 30 countries and distributes vehicles to over 130 nations. Like all global automakers, Stellantis faces the need to invest billions of dollars in the coming years to shift its product lineup to electric vehicles.

Challenges also loom large for Stellantis, including revitalizing its position in the Chinese market, streamlining its vast global empire, and addressing production overcapacity.

Ford Motor (NYSE: F) is a global automaker headquartered in Dearborn, Michigan, just outside of Detroit, USA. Established by Henry Ford on June 16, 1903, the company offers cars and trucks under the Ford brand, as well as luxury vehicles branded as Lincoln.

Historically a Top 5 automaker, Ford has recently dropped to 10th place in the rankings of the largest car manufacturers worldwide, due to the rapid growth of other brands. When it was founded, Ford produced only a few cars each year, but it soon pioneered mass production techniques and the use of assembly lines to streamline manufacturing. By 1914, this approach became known globally as Fordism. Today, Ford markets cars and commercial vehicles under the Ford brand, while Lincoln handles luxury automobiles. The company also owns the Brazilian SUV maker Troller, 8% of Aston Martin, and 32% of Jiangling Motors, with joint ventures across China, Taiwan, Thailand, Turkey, and Russia. Ford is publicly traded on the New York Stock Exchange and remains under the control of the Ford family.

In Vietnam, Ford entered the market early, but it has faced challenges in securing a strong market share due to local preferences for Japanese brands and skepticism toward American manufacturers. The Ford Ranger is the most popular model in the country, known for its practicality, off-road capabilities, and ample cargo space.

Tesla represents a brand driven by creativity and bold ambition, capturing the innovative spirit of the electric vehicle revolution that is transforming the global automotive industry. Initially, Tesla’s logo featured a more complex design with a shield and a stylized ‘T,’ but the brand later simplified it to just the iconic ‘T’ symbol we know today.

Although closely associated with Elon Musk, Tesla was not founded by him. The company was established by Martin Eberhard and Marc Tarpenning on July 1, 2003, in San Carlos, California. They saw an opportunity after General Motors halted its EV1 electric vehicle project, and they believed they could continue and commercialize the idea. Tesla is an electric vehicle and clean energy company based in Palo Alto, California, named in honor of the inventor and electrical engineer Nikola Tesla. Tesla designs and manufactures electric vehicles, energy storage systems, solar panels, and related products. In 2020, Tesla accounted for 16% of the global plug-in vehicle market and 23% of the electric vehicle battery market. The company sold 499,550 cars globally that year, a 35.8% increase from the previous year.

By 2022, Tesla reached a market capitalization of $1 trillion, becoming the sixth U.S. company to achieve this milestone. The Tesla Model 3 holds the title of the fastest-selling electric car in history and, by June 2021, became the first electric vehicle to reach 1 million units sold globally.

Toyota Motor Corporation (commonly known as Toyota) is a multinational automaker based in Aichi, Japan. Founded by Kiichiro Toyoda on August 28, 1937, Toyota is one of the largest car manufacturers in the world, producing approximately 10 million vehicles annually.

After World War II, Toyota benefited from Japan's alliance with the United States, which allowed the company to learn from American automakers' technologies. This led to the creation of The Toyota Way (a management philosophy) and the Toyota Production System (a lean manufacturing method), transforming Toyota from a small company into a global automotive leader. The company is known for pioneering fuel-efficient hybrid vehicles, starting with the Toyota Prius in 1997. Today, Toyota has sold over 40 hybrid models worldwide. The company produces vehicles under five brands: Daihatsu, Hino, Lexus, Ranz, and Toyota. It also holds stakes in Subaru Corporation (20%), Mazda (5.1%), Suzuki (4.9%), Isuzu (4.6%), Yamaha Motor Corporation (3.8%), and Panasonic (2.8%). By 2009, Toyota had launched approximately 70 models under the Toyota brand, including sedans, coupes, vans, trucks, hybrids, and crossovers.

In Vietnam, Toyota is a popular brand known for its durability, low running costs, good fuel efficiency, and strong resale value. Toyota holds a significant market share across various segments in Vietnam, with popular models like the Vios, Camry, Fortuner, and Innova. The Toyota Vios ranked third among the best-selling cars in Vietnam in the first half of 2021.