Top 15 Most Valuable Car Manufacturers Worldwide

Daimler AG, formerly known as Daimler-Benz and DaimlerChrysler, is globally recognized for its luxury automobile brand Mercedes-Benz. This multinational automotive company ranks 4th in the world, with its headquarters located in Stuttgart, Baden-Württemberg, Germany. Daimler AG stands as one of the leading producers of cars and trucks worldwide, with its flagship Mercedes-Benz vehicles and Daimler trucks.

As of 2014, Daimler owned or held shares in several brands across various vehicle categories, including Mercedes-Benz, Mercedes-AMG, Smart Automobile, Detroit Diesel, Freightliner, Western Star, Thomas Built Buses, Setra, BharatBenz, Mitsubishi Fuso, and MV Agusta. The luxury Maybach brand was discontinued at the end of 2012, only to be revived in April 2015 under the name “Mercedes-Maybach” with versions of the Mercedes-Benz S-Class and GLS-Class.

In February 2022, Daimler officially transitioned to Mercedes-Benz Group AG, which now includes four brands: Mercedes-Benz, Mercedes-AMG, Mercedes-Maybach, and Mercedes-EQ. This shift occurred as the automotive industry entered a new era, with a focus on green vehicles and software development. The rebranding as Mercedes-Benz emphasizes the company’s future direction, particularly its separation from the truck and bus division to streamline operations.

Market Capitalization: $93.32 Billion

Ranked consistently among the top 5 largest car manufacturers worldwide, General Motors Company, or GM, is a multinational corporation based in Detroit, Michigan, USA. Founded on September 16, 1908, as a publicly traded company, GM was restructured in 2009 to become the largest car manufacturer in America and one of the leading automotive companies globally.

At its peak, General Motors controlled 50% of the U.S. car market and held the number 1 spot among the top 10 car manufacturers worldwide from 1931 to 2007. As of 2022, GM ranked 22nd on the Fortune 500 list of the largest U.S. companies by total revenue.

As one of the “Big Three” automakers in the U.S., General Motors owns major brands such as Buick, Chevrolet, Cadillac, and GMC. In Vietnam, Chevrolet focuses on the budget-friendly segment, while Cadillac targets the luxury market for high-income individuals. Popular models include the Chevrolet Cruze, Chevrolet Captiva, and Cadillac Escalade. Additionally, General Motors plans to use technology to track emissions from their electric vehicle drivers, utilizing this data to help guide investments in renewable energy and minimize the environmental impact of electric cars.

Market Capitalization: $80.31 Billion

BYD ranks as the sixth largest car manufacturer globally as of 2022. The brand may not be well known to many in Vietnam, but BYD Co. Ltd. (Build Your Dreams) is a Chinese automaker based in Shenzhen, Guangdong. Founded by Wang Chuanfu in February 1995, BYD originally focused on producing rechargeable batteries to compete with Japanese imports in China. It quickly expanded, capturing half of China’s battery market and becoming the largest battery manufacturer in the country.

BYD operates two subsidiaries: BYD Automobile and BYD Electronic, focusing on electric and hybrid vehicles, buses, and trucks. In 2002, BYD acquired Tsinchuan Automobile and began producing its first vehicles. The company has rapidly expanded within the automotive industry, and as of 2022, it ranks as the sixth-largest car manufacturer in the world.

Market Capitalization: $66.04 Billion

Founded on March 7, 1916, BMW initially specialized in motorcycle production. It wasn’t until 1928 that the company transitioned into automobile manufacturing, and on March 22, 1929, BMW produced its first car, the 3/15 PS, based on the Austin Seven design from the British Austin Motor Company.

BMW is a global luxury automaker, owning prestigious brands like Mini and Rolls-Royce. Although BMW now ranks as the 7th largest car manufacturer, it began as an aircraft engine manufacturer during World War I. Post-war, BMW shifted focus to automobiles, motorcycles, and bicycles. Today, BMW’s offerings include the Mini brand (small, budget-friendly cars), the BMW brand (luxury vehicles for the middle class), and Rolls-Royce (ultra-luxury cars like the Phantom, Ghost, Wraith, and Cullinan SUV). Additionally, BMW manufactures motorcycles under the BMW Motorrad brand.

Market Capitalization: $64.04 Billion

NIO was founded in 2014 by William Li under the name NextEV. Li, like Elon Musk, made his fortune in the internet sector before venturing into electric vehicles. Drawing inspiration heavily from Tesla, NIO positioned itself not just as a car manufacturer but as a technology company. This vision is evident in their innovative vehicles, such as one featuring a circular AI assistant called NOMI, which allows users to control various functions of the car, from raising and lowering the windows to adjusting the temperature, playing music, or even taking a group selfie. As a Chinese electric vehicle company, NIO ranks 8th among the largest car manufacturers worldwide as of 2022.

Founded in Shanghai, China, NIO designs, manufactures, and distributes electric vehicles. It was established by William Li (Li Bin), the chairman of Bitauto and NextEV. Despite being only seven years old, NIO has rapidly ascended to become one of the top players in the global electric vehicle market.

Market Capitalization: $62.14 Billion

Stellantis was formed through the merger of Fiat Chrysler Automobiles and the PSA Group. Stellantis NV, a multinational automotive manufacturing corporation, was officially created on January 16, 2021, following a 50:50 merger between Italy's Fiat Chrysler Automobiles and France's PSA Group. Headquartered in Amsterdam, the Netherlands, Stellantis became the ninth largest car manufacturer in the world as of May 2021.

However, this merger could prove to be a double-edged sword. Stellantis embarks on its journey with seven brands from FCA and four additional brands from PSA. While it is slightly more formidable than before, any misstep in strategy could lead to failure. Mergers and acquisitions often result in internal conflicts, staff redundancies, and other issues that could potentially collapse certain products or even brands.

Stellantis operates in the design, development, production, and distribution of automobiles under 15 brands, including Abarth, Alfa Romeo, Jeep, Lancia, Maserati, Chrysler, Citroën, Dodge, DS, Fiat, Fiat Professional, Opel, Peugeot, Ram, and Vauxhall. The company also owns the automotive parts brand Mopar. Stellantis employs 407,545 people, with manufacturing facilities in 30 countries and vehicle distribution to over 130 nations.

Market Capitalization: $52.36 Billion

Ferrari S.p.A. is an Italian luxury sports car manufacturer founded by Enzo Ferrari in 1939 under the original name Scuderia Ferrari. In 1946, the company rebranded to Ferrari S.p.A., its present name. Beyond automobiles, Ferrari is a major sponsor of various high-profile racing events, teams, and drivers worldwide. For a decade, the company maintained a close relationship with Alfa Romeo. In 1938, Ferrari completely separated from Alfa Romeo and established Auto Avio Costruzioni Ferrari, focusing on manufacturing sports car parts. In 1943, the main production line was relocated from Modena to Maranello.

Ferrari’s name is synonymous with racing, especially Formula 1, where the Scuderia Ferrari team remains one of the most celebrated. Today, Ferrari is recognized as the leading producer of high-performance sports cars, always at the forefront of speed and innovation.

Ferrari is also gearing up for the future, with plans for an all-electric model that it expects to contribute 5% of its total sales by 2025, and rise to 40% by 2030. According to CEO Benedetto Vigna, the company will focus on developing its own electric powertrains, inverters, and battery charging systems for future electric vehicles.

Market Capitalization: $50.77 Billion

Honda is a Japanese multinational corporation headquartered in Minato, Tokyo. It has been the world’s largest motorcycle manufacturer since 1959 and the largest engine manufacturer globally, producing over 14 million engines annually. Since 2004, the company has been developing diesel engines that are both quiet and do not require filters to meet air pollution standards. This innovative approach laid the foundation for Honda's success, beginning as a small motorcycle manufacturer.

In addition to renowned manufacturers like GM and Audi, Honda recently revealed plans to focus on developing electric vehicles (EVs) and fuel cell vehicles (FCVs), with an ambitious goal of selling only electric cars by 2040. Specifically, Honda aims to increase the share of its EV and FCV products in key electrified markets like the U.S. and China to 40% by 2030. This will rise to 80% by 2035, with a target of 100% globally by 2040. Honda's first luxury car brand, Acura, was introduced for international markets. Popular models include the Civic, City, Accord, Odyssey, and CR-V.

Market Capitalization: $50.69 Billion

Hyundai Motor is the largest car manufacturer in South Korea and ranks among the top 10 global automakers. In 1999, Hyundai acquired a stake in Kia Motors, initiating a restructuring process that led to the formation of a new automotive alliance. In 2004, Hyundai launched its first luxury vehicle, the Hyundai Genesis. After 11 years of development, Genesis became an independent brand on November 4, 2015, similar to other luxury marques like Toyota’s Lexus, Honda’s Acura, Ford’s Lincoln, GM’s Cadillac, and Nissan’s Infiniti. Hyundai also revealed plans to assemble fully electric vehicles in Vietnam next year, after TC Group and Hyundai inaugurate their second manufacturing plant in Ninh Bình.

Hyundai's first electric vehicle to be assembled in Vietnam is likely to be the Ioniq 5, expected to be produced at the new plant starting mid-next year. The plant, with an annual capacity of 100,000 vehicles, will boost Hyundai's manufacturing capacity in Vietnam to 180,000 units per year, helping meet local demand and support exports to neighboring countries.

Before transitioning to electric vehicles, the plant will initially produce hybrid versions of the Hyundai Santa Fe SUV, demonstrating the advanced capabilities of the new facility, which integrates state-of-the-art robotics and automation in its welding and painting departments. The assembly line also utilizes real-time data management systems.

Market Capitalization: $49.36 Billion

Volvo is a multinational corporation based in Gothenburg, Sweden. While its core business involves the manufacturing, distribution, and sale of trucks, buses, and construction equipment, Volvo also provides marine and industrial powertrains, as well as financial services. In 2016, Volvo was the second-largest heavy truck manufacturer in the world.

From its earliest days, Volvo has placed a strong emphasis on user safety, which became the brand's core identity. However, this focus on safety sometimes led to the company's exterior designs not being highly regarded. This contributed to a crisis for Volvo, resulting in its sale to Ford in 1999. Even under Ford's ownership, Volvo did not see a significant resurgence. The global financial crisis in 2006 further deepened the brand's struggles, and in 2007, Geely Group’s chairman, Li Shufu, expressed interest in acquiring Volvo.

Today, Volvo’s operations are centered around managing and protecting its brand portfolio, which includes the Volvo cars brand, Volvo equipment brand (with trademarks like the grille and iron mark), Volvo Aero, and Volvo Penta. The company focuses on maintaining its global trademark registry and expanding the protection of its Volvo trademark rights.

Market Capitalization: $48.15 Billion

Ford Motor Company is a multinational automobile manufacturer headquartered in Dearborn, Michigan, just outside Detroit. Founded by Henry Ford on June 16, 1903, the company sells vehicles under the Ford brand and most luxury cars under the Lincoln brand. Some of Ford's popular models include the Ford Ranger and Ford Fiesta. The company also owns the Lincoln brand and holds a stake in the Japanese automaker Mazda. Ford has been a leader in the pickup truck segment, with its vehicles highly popular across North America, Asia, and Europe.

Ford is the second-largest automaker in the United States (after General Motors) and the fifth-largest in the world (behind Toyota, Volkswagen, Hyundai-Kia, and General Motors) in terms of production volume in 2015. By the end of 2010, it was the fifth-largest car manufacturer in Europe. Ford went public in 1956, but the Ford family still retains 40% of voting power through special Class B shares. Despite nearly going bankrupt during the early 21st-century financial crisis, Ford managed to bounce back and return to profitability. In 2018, it ranked eleventh on the Fortune 500 list, based on global revenues of $156.7 billion in 2017. In 2008, Ford produced 5.532 million vehicles and employed around 213,000 people at approximately 90 plants and facilities worldwide.

Market Capitalization: $45.54 Billion

Great Wall Motors is a privately-owned Chinese automobile manufacturer based in Baoding, Hebei. Founded in 1984, it is currently the eighth-largest car producer in China, with a sales volume of 1.281 million vehicles in 2021. Named after the Great Wall of China, the company is the largest producer of SUVs and pickup trucks in China. In 2021, it was the third-largest producer of plug-in electric vehicles in the country, with a 4% market share, selling under brands like Ora and Haval.

Originally, all of its vehicles carried the same brand emblem, but around 2010, Great Wall Motors began differentiating its product lines, naming its SUVs 'Haval', sedans 'Voleex', and pickup trucks 'Wingle'. Beyond China, Great Wall Motors has expanded to international markets including Thailand, Australia, Russia, Italy, Brazil, the UK, and Germany. Furthermore, the company plans to further extend its reach to more countries, including Vietnam, in the coming years.

In an interview with Nikkei Asia, Elliot Zhang, the president of Great Wall Motors Southeast Asia and Thailand, revealed the company's plan for expansion: "In 2022, we will continue our business growth in the ASEAN region, with Thailand as our regional headquarters. Our goal is to enter four more countries: Malaysia, Vietnam, the Philippines, and Singapore." Before entering these markets, Great Wall has already sold vehicles in Southeast Asian countries such as Thailand, Laos, Cambodia, and Brunei.

Market Capitalization: $39.04 Billion

Despite being a relatively young player in the automotive world, having been founded in 2003, Tesla has amazed the world with its rapid growth. Currently, Tesla's market capitalization exceeds $710 billion. Tesla, Inc. (formerly Tesla Motors, Inc.) is an American company specializing in designing, manufacturing, and distributing electric vehicles and related components for electric-powered vehicles. Tesla is a publicly traded company listed on NASDAQ under the ticker TSLA. In the first quarter of 2013, Tesla reported its first profit after a decade of development.

The key to Tesla's success lies in its groundbreaking technology, allowing it to outpace many traditional automakers. Tesla has been ranked as the fastest-growing brand in the world by Brand Finance and has also secured a spot in the top 10 most valuable brands, taking the number one position. Tesla dominated the sales rankings in the first half of 2022, surpassing its closest competitor by 1.6 times. In the first six months of the year, 228,989 Tesla vehicles were registered in the U.S., a significant increase from 142,543 units in the first half of 2021. This impressive performance solidified Tesla's position as the leader in the luxury car segment.

In terms of electric vehicle market statistics, Tesla delivered 343,000 vehicles in Q3 2022, setting a new record, although it fell short of expectations due to transportation challenges. The company produced 365,923 vehicles and delivered 343,830 units in the third quarter.

Market Capitalization: $710 Billion

Here comes the national automaker, a name that is highly recognizable, securing the second spot. Almost everyone has seen one or more vehicles from this brand. Toyota is a globally renowned automotive manufacturer with over 80 years of history. A multinational corporation based in Japan, Toyota operates around 63 factories worldwide, including one in Vietnam. Well-known models include the Land Cruiser, Camry, Fortuner, Corolla Altis, Innova, and Vios, with Lexus being its luxury vehicle division.

Toyota Motor Corporation is a multinational automobile manufacturer headquartered in Toyota, Aichi, Japan. As of 2017, the company employed 364,445 people globally, and by September 2018, it ranked as the sixth-largest company in the world based on revenue.

Unlike many of its competitors, Toyota didn't need to cut production—largely due to the global pandemic—seeing an increase in sales in Q3 2020 across Japan, North America, and Europe. In total, Toyota sold 9.73 million vehicles worldwide during the past fiscal year. Net profit for the company surged 50% in Q3 2020, and in China, sales grew by 10% compared to the previous year.

Market Capitalization: $205.65 Billion

The Volkswagen Group, founded in 1937, was initially a German government-owned entity before it was sold to the Volkswagen Beetle. After World War II, the British military took control of the company until it was returned to Germany in 1948.

In 1933, shortly after Adolf Hitler became the leader of Germany, he tasked Ferdinand Porsche with redesigning a 1931 car to better suit the working-class men. The name “Volkswagen” translates to “car of the people” in German, but despite its modest-sounding name, the company gradually acquired several prestigious car brands. While Volkswagen may be a familiar name to many in Vietnam, it is actually Germany's largest automaker and owns a range of renowned brands such as Audi, Bentley, Lamborghini, Porsche, Bugatti, and of course, Volkswagen itself.

Volkswagen is one of the world’s largest automobile manufacturers. It owns several high-end brands, including Audi, Bentley, Lamborghini, Bugatti, and Porsche. The Volkswagen brand itself is also hugely popular worldwide. Recently, the company announced that it is nearing the final stages of acquiring Jaguar-Land Rover from India’s Tata Motors.

Market Capitalization: $142.44 Billion