What are the top automobile companies right now? Read on to find out the best automobile manufacturers for 2020.
With the increased demand for automobiles globally, notable automobiles manufacturers have risen across every continent worldwide.
This rise, which dates as far back as the early 20th century, has seen these automobiles heavyweights locked horns as they compete for the prominent share in an increasingly competitive market.
The staunch competition in the automotive industry has led these automobile giants to continuously produce cars with the most appealing mechanical and electrical designs, embellished with technological features, prominently infotainment systems.Â
These features that are continually refined to suit car enthusiast tastes have led to car manufacturers’ advancements in the tightly competitive automotive industry.
Besides improving existing features, automobile companies have resorted to marques to push and create a sense of rivalry to increase sales.
Every year, this trick has proven to be effective.Â
In 2020, after reviewing the Trailing Twelve Months (TTM) of the top automobile companies in the world, MotorsTell is pleased to present the top-10 best automobile manufacturers by revenue.
It’s important to note that the ranking is based on the automobile company’s revenue and not the marque.
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The Top Automobile Companies Ranked by Revenue in 2020
10. Nissan Motor Co. Ltd
Revenue: $80.2 Billion
Japanese automobile giant, Nissan, is still far away from its centenary anniversary, but the company is surely pushing to reach that date with a bang.Â
The company currently pushing established itself as a dominant player in the electric vehicle market racked in $80.2 billion in 2020.
However, Nissan recorded a net income loss of -$8.9 billion.Â
By how far Nissan, which was established in December 1933, has come, we can say the company has a bright future ahead of it.
The company’s push towards electric vehicles hasn’t been for media showing.Â
As for 2021, all Infiniti vehicles, its Hong Kong-based luxury vehicle division, would be electric.
9. Hyundai Motor Company
Revenue: $85.4 Billion
In less than 20 years since the South Korean automotive giant crept into the automotive industry, the 53 years old company have carved a name for itself.
The company that partly owns KIA motors and 100% owns its two-month-old electric vehicle subsidiary, Ioniq, recorded a 12-month revenue of $85.4 billion, with a net income of $1.6 billion.
The vast array of marques it boasts of has experienced success, including its luxury brand, Genesis Motors, which has received favorable reviews since it was launched in 2015.
Though Hyundai is fairly new compared to the several automobile companies globally, the company has continued to dominate despite tense competition.
8. Fiat Chrysler Automobiles N.V.
Revenue: $98.8 Billion
Following the merger of Italian holding company Fiat and American automotive manufacturer Chrysler in 2014, the Fiat Chrysler Automobiles N.V. automotive empire was birth.
The merger between the companies saw the resulting company emerge as the world’s eighth-largest automotive manufacturer by volume.
Though the merger helped both companies rose car production, but revenue has been plummeting.Â
In 2019, the company’s revenue sat at $140 billion, which declined to $98.8 billion in 2020.
Net income for the twelve months trailing period was valued at -$1.5 billion.Â
Despite this, Fiat Chrysler still ranks as one of the top automotive companies and best automobile manufacturers globally, with several loyal customers.
7. General Motors Company
Revenue: $115. Billion
For over a century, General Motors have been one of America’s automotive pride.
The company, which was set up as a holding entity in 1908, became a full-fledge automotive manufacturer in 2009.Â
The company ranked as the largest automotive manufacturer by volume in the US recorded $115.8 billion in revenue in 2020, a decline from it’s 2019 $137.237 billion.
Its twelve months trailing net income for 2020 is valued at $1.7 billion.Â
The prestigious automobile manufacturing company owns multiple luxury car brands, including Cadillac, Chevrolet, Buick, and many others.
6. Bayerische Motoren Werke AG (BMW)
Revenue: $116.7 Billion
Since 1916, German automotive giants, BMW, have perfected its luxury car manufacturing craft.
Those years of practice have translated to increased sales, which have skyrocketed the company to a position reserved only for the best manufacturers in the automotive industry.
The Rolls-Royce manufacturer recorded a $116.7 billion revenue for a 12 months period, which ended in September 2020.
Despite the pandemic’s effect, the company’s revenue saw a $12.5 billion increase compared to its previous year record.
Net income also got a minor boost as it’s valued at $5.5 billion.Â
For the motorcycle and luxury car manufacturer, business is booming.
5. Honda Motor Company Ltd
Revenue: $120.7 Billion
The Japanese multinational conglomerate is a powerhouse for motorcycles, automobiles, and power equipment manufacturing.
The company, which has created a solid reputation for itself in the motorcycle and automobile industry, has consistently held on to its position as the world’s largest motorcycle and internal combustion engine manufacturer.
Though that reputation has not extended to the automobile industry, the company boasts a solid reputation for quality vehicles.
The company known for its Honda Acura luxury brand recorded a $120.7 billion revenue in 12 months, which ended in September 2020.
Net income for that same duration was valued at $1.9 billion.
4. Ford Motor Company
Revenue: $130.4 Billion
For over a century, specifically 117 years, Ford has been manufacturing top-quality cars, which has made the company a prestigious company.
The Lincoln luxury car manufacturer recorded $130.4 billion in 12 months, which concluded in September 2020.
Compared to its 2019 revenue, which is valued at $155.9 billion, Ford recorded a colossal decline.
Net income also took a major hit, as Ford recorded -$2.1 billion in 2020.
3. Daimler AG
Revenue: $174.6 Billion
Known to car enthusiasts as Mercedes-Benz, this German automotive manufacturer has consistently been producing top quality cars since 1926.
Even though the company has gone through name changes and mergers, it has upheld its reputation as a top car manufacturer and among the world’s best automobile companies.
Daimler AG which manufactured the Mercedes-AMG, Smart Automobile, and the now-defunct Maybach, recorded $174.6 billion in revenue and a $309.3 million net income.
2. Volkswagen AG
Revenue: $247.4 Billion
Several notable automotive manufacturers have emerged from Germany, but Volkswagen Group, as it is widely known, leads them all.
The company, which emerged as the world’s largest automotive manufacturer by unit sales for four consecutive years (2016–2019), manufactures notable car brands such as Audi, Lamborghini, Bentley, Buggati, Porsche, and several others.
The company recorded a slight decline in a 12 month period, which ended in September 2020, with a $247.4 billion revenue compared to $282.9 billion in 2019.
Volkswagen’s net income for the same period is approximately $6.4 billion.
1. Toyota Motor Corporation
Revenue: $248.6 billion
Few companies in the automotive industry can boast of the success of Toyota.
The company ranked in the 10th spot in global Fortune 500 companies as of October 2020.Â
Toyota Motor Corporation, which was founded in August 1937, is currently the world’s largest automotive manufacturer by volume.
In a twelve-month trailing period, Toyota recorded $248.6 billion in revenue and $14.4 billion in net income, making it the top automobile company by revenue as of 2020.
Undoubtedly, Toyota is among the best automobile manufacturers right now.
