Automobile industry is an indispensable part of the rapidly growing economies around the world. Every year many new car models are launched and thousands are sold. Automobile has rather become a necessity for daily life, this is the reasons the companies are compelled to launch best and affordable models so that they can compete with their rivals by being the most preferred brand in the market.
Although the performance of the product matters a lot one must also keep in mind that the product must fall in the affordable range. The way automobile industry has gained technical advancement in such a short span of time is commendable. Here is the list of top ten automobile companies 2022 which have always blew our minds with their designs and performances:
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10. Ford Chrysler
Founder- Walter P. Chrysler
Total Assets-US$49.02 billion
Revenue- US$83.06 billion
Headquarter- Auburn Hills, Michigan, U.S
It is also known as FCA and is Italian controlled Multinational Corporation which was founded on 12 October 2014. It is regarded as seventh largest automobile manufacturer company in the world. This company is incorporated in Netherlands for tax purposes. The company is listed on Borsa Italiana in Milan and New York Stock Exchange. It basically operates through two subsidiaries known as FCA Italy and FCA US. The current chairman of the company is John Elkann. Sergio Marchionne is the current CEO of the company. Despite of just three years the company has set many world class standards and thus established itself in top ten automotive companies in the world.
9. BMW
Founder- Franz Josef Popp, Karl Rapp, Camillo Castiglioni
Tagline-Sheer driving pleasure
Total Assets-€188.535 billion
Revenue- €94.163 billion
Headquarter-Munich, Bavaria, Germany
BMW is the abbreviated form of Bavarian Motor Works. It was established on March 7, 1916. It also owns Mini cars and is the mother company of Rolls-Royce Motor Cars. Cars are produced under Motorsport division while motorcycles are produced under BMW Motorrad. It also produces plug in electric cars under BMW. Dixi was the first car launched by BMW which was based on Austin 7. It also deals in aircraft engines. In the year 1958 BMW also dealt with some financial difficulties. Harald Kruger is the current CEO of the company.
8. Volkswagen
Founder-German Labour Front
Tagline -Das Auto
Revenue -€105.651 billion
Headquarter-Berlin, Germany
It is a German automotive manufacturing company founded in the year 1937. Apart from its world class cars the company is also known for its buses, trucks and vans. It is known for manufacturing cars for middle class people and its slogan for advertisement is just Volkswagen. Since it was established by German labor front and thus made it possible for middle class people to own a car. Historians proclaim that Adolf Hitler had predilection for these cars as they were the first cars with better aerodynamics and air cooled engines. Dr. Herbert Diess is the current Chairman of the company. Total number of employees in the company is 626,715.
7. Ford
Founder- Henry Ford
Tagline-Bold Move
Total Assets-US$237.9 billion
Revenue- US$151.8 billion
Headquarter- Dearborn, Michigan, U.S.
It is an American multinational company which was established in the year 1903 ruled the automobile industry for more than 80 years. It was the first company to introduce large scale production techniques for cars. It also used well engineering manufacturing techniques which helped in large scale management of the industrial workforce. It has given a new term to automobile industry known as Fordism. It also acquired Jaguar and Land Rover in 1999 and 2000. During the 21st century it also faced financial crisis and was very close to bankruptcy. William C Ford Jr is currently serving this company as executive chairman and Mark Fields is the current president and CEO of the company.
6. Nissan
Founder-Masujiro Hashimoto, Kenjiro Den, Rokuro Aoyama, Meitaro Takeuchi, Yoshisuke Aikawa
William R. Gorham
Tagline- Shift Expectations.
Total Assets-¥17.04 trillion
Revenue- ¥11.38 trillion
Headquarter- Nishi-ku, Yokohama, Japan
Nissan is the abbreviated form of Nissan Motor Company LTD. It is a Japanese multinational automobile manufacturer which was established in the year 1933. It sells its cars under three brand names viz: Nissan, Datsun, Infiniti and Nismo. Since 1999 it has been in alliance with Renault which is a renowned French company. Statistics show that Renault holds 43% voting stake in Nissan. In the year 2013 it was the sixth largest automobile manufacturer company in the world. Carlos Ghosn is the CEO of both companies. Nissan is the world’s largest electric manufacturer company in the world. Nissan Leaf is the top selling electric car in the world which is considered as a masterpiece.
5. Honda Motor Company
Founder- Soichiro Honda, Takeo Fujisawa
Tagline- Dream it do it.
Total Assets-¥18.22 trillion
Revenue- ¥14.60 trillion
Headquarter- Minato, Tokyo, Japan
This Japanese public multinational conglomerate is primarily known for two and four wheelers. Apart from this it is also known for aircrafts and power equipments. It has been the largest manufacturer of motorcycles since 1959 and is also regarded as the largest manufacturer of internal combustion engines in the world. It has set a record of producing 14 million engines every year. In the year 2001 it became the second largest Japanese automobile company. It became the first Japanese automobile company to launch a dedicated luxury brand known as Acura. It has also involved itself in artificial intelligence and robotics.
4. Hyundai
Founder-Chung Ju-yung
Total Assets- 125.6 billion USD
Revenue- 76 billion USD
Headquarter- Seoul, South Korea
This celebrated company was founded in the year 1967. Its first model was launched in the year 1968 with the collaboration Hyundai and Ford, which was called Cortina. In the year 1975 Hyundai launched its first car independently called Pony which was exported to many other countries in subsequent years. It started selling cars in United States in the year 1986. In the year 2006 Chung Mong Koo was suspected of corruption and was arrested on 28 April 2006.As a result he was deprived of his positions in the company.
3. Daimler
Founder- Daimler-Benz
Total Assets-$235.118 billion
Revenue- €153.261 billion
Headquarter- Stuttgart, Germany
This German multinational company was established in the year 2007. It owns shares in many two and four wheeler companies some of which are BharatBenz, Mitsubishi Fuso, Setra, Mercedes Benz, Mercedes AMG etc. It is the largest truck manufacturing company in the world. Apart from automobile manufacturing the company also provides financial services. If we take unit sales into consideration it is the thirteenth largest car manufacturing company in the world. It has also purchased 25 percent shares in MV Agusta. This company in best known for its premium quality buses.
2. General Motors
Founder- William C. Durant, Charles Stewart Mott
Total Assets- US$221.6 billion
Revenue- US$166.3 billion
Headquarter- Detroit, Michigan, United States
This multinational American Corporation was established in the year 1908 which markets, designs, distributes and markets vehicle and its parts. It is a well known fact that it manufactures automobiles in almost 35 countries. This company was leader in automobile manufacturing from 1931 to 2007.There are 12 subsidiary brands of this automotive giant viz. Buick, Chevrolet, GMC, Cadillac, Holden, Opel, HSV, Baojun, Wuling, Ravon, Jie Fang and Vauxhall. The current General Motors Company LLC was formed in the year 2009 after the bankruptcy of General Motors Corporation as the new company purchased the maximum shares of the former company.
1. Toyota
Founder- Kiichiro Toyoda
Tagline- It’s a whole new feeling
Total Assets- US$ 177 billion
Revenue- US$ 252.8 billion
Headquarter- Aichi, Japan
This automotive giant was established on August 28, 1937. The company is known for its high performance cars which have always been the first choice of customers throughout the world. It is the first company in the world to produce more than 10 million vehicles in a year. It also leads the world in the sales of hybrid electric vehicles and also augments the mass market adoption of hybrid vehicles around the world. The Prius family of this brand is the best selling hybrid with more than 6 million units sold across the globe in 2016.
All these companies are giants in their field and own the world automobile market. Indian companies should take a step forward in competing with these companies. Tata Motors has shown this twice by owning both Land Rover and Jaguar. In our country we must not consider passenger safety as privilege rather we must consider it as basic necessity of the people. Thus an authority needs to be constructed in order to check the quality of cars which are sold to Indian middle class.
