The billion-dollar automobile industry is one of the most significant in our global economy, thanks to vehicle innovations and an accelerated production rate. We’ve rounded up the world’s top five premier car companies this year based on market capitalization and popularity among consumers.
Tesla
American-made vehicle company Tesla was formed in 2003 and is currently headquartered in Palo Alto, California. Its major focus is automotive, solar energy generating, and battery energy storage businesses. In 2020, the company rolled out an impressive 509,737 automobiles, 3,022 MWh batteries, and 205 MW solar. In the same year, they managed to snag 16 and 23 percent of the plug-in and battery electric markets. Consumers view Tesla as a forward-thinking company. Its vehicle product range, which includes the Tesla Model Y, Model X, Model 3, and Model S, attracts consumers of all generations.
Toyota
The Toyota Motor Corporation is headquartered in Toyota City, Japan, from which it serves a global market. This traditional company has stepped up its game by integrating high-end technologies into its vehicles to keep up with its competition and meet customer demands. It boasts a diverse product portfolio that includes engines, commercial vehicles, luxury vehicles, sport utility vehicles, and robots.
Volkswagen
Volkswagen was founded in 1937 and is headquartered in Wolfsburg, Germany. The company has 100 manufacturing plants in 27 countries and has a product line that includes engines, commercial and passenger vehicles, turbomachinery, and motorbikes. It also provides services like fleet management, leasing, and financing. It operates in 150 countries and has consistently outperformed its competitors, even during the global Covid-19 pandemic.
Daimler
German company Daimler manufactures passenger cars, off-road vehicles, vans, and commercial vehicles. Additionally, it produces cars for manufacturers like Mercedes-Benz (its most popular brand) and Western Star. It ranks 6th in the world in terms of output and, in 2020, produced 2,840,402 automobiles.
General Motors
No premier car company roundup is complete without mentioning American giant General Motors, which was established in 1908. It’s known for its innovations in engineering and is the largest automotive manufacturer in the United States. The company’s manufacturing output peaked at 6,829,000 cars on December 31, 2020.
