5 Best Selling Car Brands in the World
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In the past year, the car industry had its fair share of challenges – from a dip in electric vehicle sales to strikes in U.S. factories and all the way to supply chain headaches and pricey materials. But hey, it wasn’t all doom and gloom! Car and commercial vehicle sales hit a high of over 90 million with some impressive double-digit growth. India even stepped up to become the fourth-largest market for light vehicles.
Over in the U.S., electric vehicle sales are set to rise by 16% year-over-year in 2024, while in China, we’re looking at an 11.1% growth rate.
China’s leading the way in global electric vehicle sales.
5. Hyundai Motor Company
2023 Sales Volume (million): 4.22
Hyundai Motor Company (OTC:HYMTF), the South Korean car company, has been killing it in 2023. They sold a whopping 4,216,680 cars worldwide, up by 6.9% from 2022.
Despite all the global finance fuzz with rising interest rates and inflation, Hyundai did some serious business, especially in Korea, North America, Europe, and India.
Hyundai Motor Company (OTC:HYMTF) sales shot up, thanks to new SUVs like the new Kona and SANTA FE, and expanding their electric vehicle range. They sold 762,077 vehicles in Korea, a jump of 10.6% year-on-year. Their overseas sales hit 3,454,603 units, a slick 6.2% increase from last year.
4. Ford Motor Company (NYSE:F)
2023 Sales Volume (million): 4.41
Ford Motor Company (NYSE:F) is the big shot from Dearborn, Michigan. They had a killer year in 2023, raking in some serious cash with revenue shooting up by 11% to hit $176 billion. Their net income also saw an uptick, reaching $4.3 billion.
3. General Motors Company (NYSE:GM)
2023 Sales Volume (million): 6.19
General Motors Company (NYSE:GM) is a big car player in Detroit, Michigan. They own big names like Chevrolet, GMC, Cadillac, and Buick, making them quite the powerhouse in the American market.
In 2023, in context of the U.S. market only, General Motors Company (NYSE:GM) rocked it with 2.6 million vehicles sold, a sweet 14% jump from the previous year. Buick sales were the shining star, shooting up by 61% in 2023 and a whopping 57% in Q4, with the Encore GX SUV sales soaring by 92%.
2. Volkswagen AG (OTC:VWAGY)
2023 Sales Volume (million): 9.24
Volkswagen AG (OTC:VWAGY) is one of the big players in Germany, making all kinds of wheels from motorcycles to cars.
In 2023, they were on fire in Europe, selling a whopping 3,774,500 vehicles, a chunk of which were all-electric models.
In Western Europe, their growth hit a solid 20.6%, with 3,271,000 folks rolling off in a shiny new Group brand vehicle.
And hey, in Germany, their home turf, they revved up deliveries by 15.1% to 1,185,100 vehicles. Over in Central and Eastern Europe, Volkswagen AG (OTC:VWAGY) handed out 503,500 vehicles, marking a 13.9% boost. North America wasn’t left out either – the Volkswagen Group revved up deliveries by a cool 17.9% to hit 993,100 vehicles.
1. Toyota Motor Corporation (NYSE:TM)
2023 Sales Volume (million): 11.2
Toyota Motor Corporation (NYSE:TM) – you know, is a big Japanese car company based in Toyota City. Founded by Kiichiro Toyoda back in 1937, Toyota Motor Corporation (NYSE:TM) has been crushing it in sales in 2023, along with other car manufacturers.
Toyota and Lexus (both under Toyota Motor Corp.) managed to sell a whopping 10.3 million rides in 2023, up by 7.7% from the previous year; and don’t forget Daihatsu and Hino brands, adding to Toyota’s impressive sales numbers too.
(CarsDB Team မှ ရေးသား ဖော်ပြသည်။)
Credit: CarsDB.com
Ref: 5 Best Selling Car Brands in the World (insidermonkey)
