Industry leaders: The largest automakers by revenue in 2023 were identified

Some automakers have managed to increase their revenues thanks to the Chinese market. Many concerns focus on the transition to electric vehicle production.

Global new car sales increased by 10.3% in 2023. Experts selected the 20 largest automakers by revenue. Rating Yahoo! finance.

There have been big changes in the automotive industry this year. Chinese manufacturers began to conquer the global market by offering more affordable and luxury models.

Tesla has almost entered the top ten automakers, being replaced by China’s SAIC Motor Corporation Limited concern. At the same time, other major American manufacturers managed to maintain their positions despite strikes by the United Auto Workers (UAW).

The main trend in the automotive industry is that many companies are gradually switching to electric vehicle production. But not all customers are ready to switch to fully electric models.

The German concern Volkswagen AG has managed to significantly increase its revenue by increasing the production of electric cars in China. Toyota and Honda use a similar strategy.

The top 20 largest automakers by revenue in 2023:

  1. Volkswagen AG – $318.32 billion.
  2. Toyota Motor Corporation – $286.15 billion.
  3. Stellantis NV – $200.92 billion.
  4. Ford Motor Company – $169.82 billion.
  5. General Motors Company – $169.73 billion.
  6. Mercedes-Benz Group AG – $161.91 billion.
  7. Bayerische Motoren Werke Aktiengesellschaft (BMW) – $158.03 billion.
  8. Honda Motor Co Ltd – $129.18 billion.
  9. Hyundai Motor Company – $118.37 billion.
  10. SAIC Motor Corporation Limited – $103.22 billion.
  11. Tesla Inc. – 94.03 billion dollars.
  12. China FAW Group – $87.68 billion.
  13. Nissan Motor Co Ltd – $83.11 billion.
  14. Guangzhou Automobile Industry Group – $77.34 billion.
  15. BYD Company Limited – $76.6 billion.
  16. Kia Corporation – $72.94 billion.
  17. Dongfeng Motor Corporation – $68.42 billion.
  18. Beijing Automotive Group – $67.28 billion.
  19. Zhejiang Geely Holding Group – $60.39 billion.
  20. Renault SA – $55.15 billion.

Previously Focus He reported that the Stellantis concern will launch a new line of inexpensive electric cars.

Source: Focus

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