This dossier presents graphs and tables about the automotive industry worldwide. Focusing on passenger vehicle production and sales, it also provides key figures for selected car manufacturers and automotive suppliers.
Table of ContentsOverviewProductionSalesLeading manufacturersLeading suppliers
Description: The global automotive manufacturing market was worth about 2.86 trillion U.S. dollars in 2021. The market is projected to grow to some 2.95 trillion U.S. dollars in 2022. This growth is a slow recovery, still under the industry’s 2019 market size.
Description: Merger and acquisitions deals in the automotive industry came to a total value of three billion U.S. dollars in the fourth quarter of 2022. Globally, the total value of such deals shifted between 2017 and 2022, with 2021 seeing the largest overall total deal value of the recorded period. Variations between quarters are most noticeable in 2020 and 2021 due to the impact of COVID-19 on the automotive industry worldwide.
Description: In 2022, the U.S. is expected to spend 48.4 billion U.S. dollars on automotive research and development, which represents around 39 percent of the global automotive R&D spending. That year, global spending is tipped to reach 124 billion U.S. dollars, a year-over-year growth of 6.8 percent. Investments in the electric vehicle market have partly been boosting R&D costs.
Description: Volkswagen was the automaker spending the most on research and development in 2021, with expenses reaching close to 15.6 billion euros that year. The manufacturer also recorded a high research and development intensity, with its expenses amounting to over 6.2 percent of its sales revenue. In contrast, Hyundai Motor recorded the lowest R&D intensity of the automakers surveyed, only spending 2.6 percent of its sales on research expenses.
Description: In 2021, the United States was the second largest importer of automotive products with a value of almost 286 billion U.S. dollars. At the same time, the country exported automotive products to the value of approximately 126 billion U.S. dollars.
Description: In 2021, Japan was the second largest exporter of automotive products globally with a value of approximately 138 billion U.S. dollars, trailing only the 27 member states of the European Union. In terms of value, the EU-27 single-market accounted for some 47 percent of automotive products exports worldwide.
Description: The Toyota Corolla was the best-selling car model in 2021, topping 1.1 million sales. It was followed closely by another Toyota model, the RAV4. This popularity means that about two Corolla cars were sold per minute. Overall global car sales grew to roughly 67 million units in 2021, up from 64 million in 2020.
Description: The Toyota RAV4 was the best-selling SUV model in 2021 for the third year in a row with sales increasing by roughly 3.4 percent. Toyota models were also amongst the best-selling cars and light trucks. The United States is one of the most important regions for SUV sales, making up a significant portion of all new vehicle purchases.
Description: Between January and November 2022, BYD surpassed Tesla as the global best-seller for plug-in electric vehicles (PEVs), selling nearly 1.62 million electric cars. BYD was the second best-selling PEV automaker worldwide in 2021.
Description: Light vehicle sales are projected to decrease by about five percent in 2022 year-on-year. Projections for the following years are more optimistic, though. It is expected that in 2023, light vehicle sales will grow by nearly five percent year-on-year, and a year later, sales should increase by almost four percent.
Description: In 2021, almost 80 million motor vehicles were produced worldwide. This figure translates into an increase of around 3 percent, compared with the previous year. China, Japan, and Germany were the largest producers of cars and commercial vehicles in 2020.
Description: Global motor vehicle production increased by about three percent between 2021 and 2020, showing signs of recovery after the COVID-19 pandemic severely disrupted the automotive industry. Nevertheless, global motor vehicle production output was still way below pre-pandemic levels in 2021. While about 92 million motor vehicles were manufactured worldwide in 2019, only some 80 million were produced in 2021.
Description: Worldwide motor vehicle production amounted to more than 80 million units. Some 71 percent of the motor vehicle production was generated by the passenger cars segment, amounting to 57 million units.
Description: Motor vehicle production increased in all regions in 2021, except for Europe. The growth rate of motor vehicle production in Europe was negative, with a minus of five percent compared to the previous year. In contrast, the production value of the South American motor vehicle manufacturing industry increased by 18 percent compared to the 2020 level. In 2021, the global production of motor vehicles increased by over one million units compared with 2020.
Description: China was the leading country in terms of passenger car production in 2021: around 21.4 million units were produced here. This compares to about 6.62 million units in runner-up Japan.
Description: In 2021, around 10.9 million commercial vehicles were produced in North America. Commercial vehicle production fell globally between 2019 and 2020 due to the Covid-19 pandemic, including North American production, but picked back up in 2021. An increase of around seven percent year-on-year was felt in the region. The region remained the leading commercial vehicle producer, with just under one in two commercial vehicles manufactured in North America in 2021.
Description: Global motor vehicle sales increased by five percent in 2021, representing the signs of rebounding in sales after two consecutive year of declining demand.
Description: Global new vehicle sales contracted five percent between 2020 and 2021. In detail, commercial vehicle sales were up by about six percent, while passenger car sales contracted by five percent. These figures represent signs of recovery in the worldwide motor vehicle sales market after a significant decline in sales amid the coronavirus crisis.
Description: Motor vehicle sales contracted by five percent worldwide between 2020 and 2021. Passenger vehicles increased by 5 percent compared to the previous year when some 53.92 million cars were sold worldwide.
Description: Worldwide car sales grew to around 66.7 million automobiles in 2021, up from around 63.8 million units in 2020. The sector experienced a downward trend on the back of a slowing global economy and the advent of the coronavirus pandemic in all key economies.
Description: In 2020, light vehicle sales declined by almost 15 percent globally. However, the market had recovered in 2021, growing by about 4.5 percent year-over-year. In North America, light vehicle sales reached around 17.6 million units in 2021. Light vehicle sales were to be around 14.9 million units in the United States, North America’s largest market, up from around 14.5 million units one year earlier.
Description: China is the largest automobile market worldwide, both in terms of demand and supply. China’s automobile registrations climbed to approximately 21.1 million units in 2020, representing a rise of around 6.6 percent.
Description: In 2021, around 26.3 million vehicles were sold globally. This is a year-on-year increase of around five percent compared to 2020 sales. The United States is the largest market for commercial vehicles that year.
Description: In 2021, the highest commercial vehicle sales were recorded in the United States, with over 12 million units of vehicles. Following, China, the second biggest market for such vehicles, registered approximately 4.8 million units in sales.
4. Leading manufacturers
Description: In terms of revenue, Toyota and Volkswagen were the leading automakers worldwide in 2021. In terms of vehicle sales and revenue, Toyota and Volkswagen are also counted among the most successful automakers worldwide.
Description: In 2021, the ranking of the world’s largest car brands was topped by Toyota with a market share of around 10.5 percent. The Toyota brand is owned by Japan’s Toyota Motor Corporation, the world’s largest motor vehicle manufacturer, surpassing the 2020 incumbent, the Volkswagen Group.
Description: The Toyota Motor Corporation`s net revenue rose by over 15 percent year-on-year and grew to just under 31.4 trillion Japanese yen in the fiscal year ended March 2022. This figure is approximately equal to 257 billion U.S. dollars.
Description: Between April 2021 and March 2022, Toyota sold just under two million vehicles to customers in Japan. North America is the company’s largest target market with almost 2.4 million units. Toyota’s global retail vehicle sales came to 10.5 million vehicles between January and December 2021.
Description: Volkswagen Group’s revenue grew in the 2021 fiscal year. The carmaker`s 250.2 billion euros in revenue also secured VW a spot in the ranking of the wealthiest companies worldwide.
Description: Volkswagen delivered around 8.88 million motor vehicles worldwide in 2021, down 4.5 percent from just over 9.3 million in 2020. Volkswagen is the world’s second-largest motor vehicle manufacturer after losing its first spot to Toyota in 2020.
Description: This statistic represents Honda’s global net sales from the 2002 fiscal year to the 2022 fiscal year. Honda generated net sales of around 14.55 trillion Japanese yen in the 2021 fiscal year, a year-over-year increase of 10.5 percent.
Description: Globally, Japan’s Honda Group sold about 4.1 million automobiles in its 2022 fiscal year, which is about 10.4 percent below the previous year. Additionally, the group sold around 17 million motorcycles and a little over 6.2 million other products that year.
Description: In 2021, Renault generated some 46.21 billion euros in revenue, an increase of some 6.3 percent compared to the previous year. The carmaker’s sales volume also grew in 2021, as the industry slowly recovered from the COVID-19 pandemic.
Description: The Renault Group sold nearly 660,000 vehicles to customers in the Eurasian market. The French automaker sells vehicles under various brands, including Renault, Dacia and RSM (Renault Samsung Motors).
5. Leading suppliers
Description: With related revenue of around 49.4 billion U.S. dollars in its 2021 fiscal year, Bosch was ranked as the world’s largest automotive supplier in 2021. Bosch began to rise up through the ranks in 2014 when the company acquired ZF Friedrichshafen’s steering systems. This move helped ZF seal a deal to acquire Michigan-based TRW. Following the takeover by Germany’s ZF Friedrichshafen, TRW and ZF will have combined revenue of around 30 billion euros or a little over 40 billion U.S. dollars. In 2016, other corporate actions included Johnson and Johnson’s automotive seating business spin-off, which is henceforth known as Adient.
Description: Preliminary results indicate that Bosch generated around 79 billion euros in revenue in 2021. The company’s mobility solutions segment was hard-hit by the outbreak of the coronavirus pandemic in Europe.
Description: Denso’s revenue contracted by over ten percent between 2021 and 2022. The automotive supplier generated around 5.5 trillion Japanese yen or 37 billion U.S. dollars in revenue in 2021. Denso’s business was hampered by a slowing Japanese economy, trade tensions between China and the United States, as well as the outbreak of Covid-19.
Description: ZF Friedrichshafen had sales of around 38.3 billion euros in the 2021 fiscal year, up from some 32.6 million euros one year earlier. This figure represents an increase of roughly 17 percent year-on-year.
Description: Magna International Inc. produced global sales of over 36 billion U.S. dollars in the 2021 fiscal year. This represents an increase of around 11 percent compared with the previous year. In the 2021 fiscal year, sales to auto manufacturers in North America accounted for about 46 percent of Magna’s sales.
Description: In the fiscal year 2022, the revenue of Aisin Corporation amounted to approximately 3.92 trillion Japanese yen, up from about 3.53 trillion yen in the previous fiscal year.
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