The top Honda Competitors are Ford, Mercedes, BMW, Toyota, Hyundai, Audi, Nissan, Volkswagen, Porsche, Fiat, Mitsubishi and others. Honda is a standard brand in the automobile sector that was founded in the year 1946 and is headquartered in the location Japan. The company manufactures various automobile devices like motorcycles, aircraft, and power equipment. It produces high-powered vehicles. Its main business operations include the design, production, and sale of vehicles.
It also provides good after-sale service to attain great customer satisfaction. It also produces internal combustion engines. The company has an excellent research and development that innovates new products. The design that each vehicle carries is a great success in the market. The company produces vehicles with great care and is powered by high-end technology.
Honda revenue for the quarter ending June 30, 2023 was $33.762B. Honda net income for the quarter ending June 30, 2023 was $2.650B. Honda market cap as of September 05, 2023 is $55.3B
Through this article, let us discuss the top Honda competitors.
Table of Contents
The top Honda competitors include:
1) Ford
- Product Type: Automobiles, commercial vehicles, and more
- Industry: Automotive
- Founded date : 1903
- Founder: Henry Ford
- Headquarters: Dearborn, Michigan, United States
- Area served: Worldwide
- Current CEO: Jim Farley
- Number of employees: 173,000 (2022)
- Major products: Ford Mustang, Ford F-150, Ford Explorer, Ford Escape, Ford Transit
- Revenue: $44.954B (June 30, 2023)
- Market capitalization: $47.95B (August 15, 2023)
An international automobile company, Ford headquartered in Michigan, United States and established in the year 1903. It designs, produces and sells automobiles vehicle. Their vehicles are also designed for a commercial purpose. Their vehicles meet the security and quality that every person looks in the vehicle to purchase.
Their vehicles reduce emission to great extent. This company is known for their innovation in the automobile sector. The company takes every effort to design, produce, and sale of various vehicles. It also provides great services to their customers. Ford has an excellent Research & Development wing and is always dedicated to improving their vehicle performance with respect to safety, fuel efficiency, and develops new products.
Ford had a production output of 4.2 million vehicles in 2022. Ford Motor net income for the quarter ending June 30, 2023 was $1.917B.
The company also focus on new technology that targets direct injection of gasoline, fuel efficiency like EcoBoost, six-speed transmissions, and plug-in hybrid powertrain. Due to their great market share and product portfolio, Ford is considered one of the top Honda competitors.
2) Mercedes
- Product Type: Luxury vehicles, commercial vehicles, and more
- Industry: Automotive
- Founded date: 1926
- Founders: Karl Benz, Gottlieb Daimler, Wilhelm Maybach, and Emil Jellinek
- Headquarters: Stuttgart, Baden-Württemberg, Germany
- Area served: Worldwide
- Current CEO: Ola Källenius
- Production output: over two million vehicles (2022)
- Revenue: $40.270B (March 31, 2023)
- Number of employees: 168,797 (2022)
- Market capitalization: $75.97B (September 05, 2023)
- Parent: Mercedes-Benz Group
Yet another Honda competitor, Mercedes Benz is an international automobile company. It is also a division of a famous German company, Daimler AG. This brand has been connected with great celebrities and is among the most luxury brands in this sector. They cater to various kinds of products like cars, coaches, buses, luxury vehicles, and Lorries. It was founded in the year 1886 by Gottlieb Daimler and Carl Benz. Their cars are the major cars in the world.
They even produce commercial vehicles. Among their top productions is the luxury automobile segment which includes SUVs and Sedans. They target people who are from business and higher income group. The main strength of Mercedes is that it has a strong brand value and is a financially strong company. The company performs great with respect to innovation and is the first to introduce diesel engines, anti-locking brakes, and fuel injection.
In its two business divisions, Mercedes-Benz AG is continually expanding its worldwide production network with around 35 production sites on four continents. The brand is always popular for its technological advancement that starts from the introduction of the internal combustion engine to pre-safe technology. In 2022, the top selling model of Mercedes Benz was The GLC SUV in the US. In 2022 it sold nearly 2.45 million vehicles. Mercedes-Benz Group AG net income for the quarter ending March 31, 2023 was $4.235B. Mercedes-Benz Group AG gross profit for the quarter ending March 31, 2023 was $10.097B.
The company exists in about 20 countries. The company, for its safety features, holds many patents. As the company focuses on innovation and quality, it is indeed a strong Honda competitor.
3) BMW
- Product Type: Automobiles, motorcycles, and more
- Industry: Automotive
- Founded date: 1916
- Founders: Karl Rapp and Gustav Otto
- Headquarters: Munich, Bavaria, Germany
- Area served: Worldwide
- Current CEO: Oliver Zipse
- Number of employees: 149,475 (2022)
- Revenue: $39.558B (March 31, 2023)
- Market capitalization: $66.14B (August 17, 2023)
A strong Honda competitor, Bayerische Motoren Werke (BMW) is a multinational company that is headquartered in Munich, Germany. Their main business segments are the production of automobiles and motorcycles that is seen worldwide. This company is 12th in the world for the motor vehicle production.
They produce electric cars as well. Their branded vehicles fall into three categories – BMW M which indicates performance models, BMW I for electric cars and BMW Motorrad for motorcycles. The company produces three main brands – Mini, BMW, and Rolls-Royce. They mainly focus on technology and come up with new products every time. The main strength of the company is that it is the most valuable automotive brand worldwide.
BMW net income for the quarter ending March 31, 2023 was $3.671B. BMW gross profit for the quarter ending March 31, 2023 was $8.342B. In the second quarter of 2023, the BMW Group delivered a total of 88,289 fully-electric BMW and MINI vehicles to customers.
Their vehicles provide faultless engineering, an excellent experience in driving, and are technology-oriented. Due to their great popularity in the automobile sector, BMW is considered one of the top Honda competitors.
4) Toyota
- Product Type: Automobiles, commercial vehicles, and more
- Industry: Automotive
- Founded date: 1937
- Founder: Kiichiro Toyoda
- Headquarters: Toyota City, Aichi, Japan
- Area served: Worldwide
- Current CEO: Akio Toyoda
- Revenue: $76.992B (June 30,2023)
- Number of employees: 375,235 (2023)
- Market capitalization: $225.85B (August 14, 2023)
- Parent: Toyota Group
- Production output: 8.69 million units( March 2023)
Toyota is an international automotive manufacturing company that is headquartered in Japan. The company produces the vehicle in an innovative and meets the ever-growing demand of the automobile sector. Their product productions fall into the categories of cars, SUVs, Utes, and Vans.
With respect to the revenue, this company is considered as the fifth largest motor company. The company produces approximately 10 million vehicles per year. The company’s main strength is their huge skilled resources that are seen across their various business operations worldwide. The company has an excellent operating system and functional strategies with a well-practiced management system.
Toyota is the dominant leader in the world car group ranking in 2023, with cumulative data up to April 2023 showing that they sold 3.4 million vehicles and maintained a substantial distance from the runner-up, Volkswagen. Also in 2022, Toyota managed to maintain its position as the world’s best-selling automaker for the third year in a row.
It has a great brand value in the automobile sector and their vehicles are look upon to by the customers. The company makes use of great technology for their vehicles. Due to their strong diversified portfolio and high production capability, Toyota is considered as top Honda competitors.
5) Hyundai
- Product Type: Automobiles, commercial vehicles, buses, and more
- Industry: Automotive
- Founded date: 1967
- Founders: Chung Ju-yung
- Headquarters: Seoul, South Korea
- Area served: Worldwide
- Current CEO: Euisun Chung
- Production output: 322,767 (April 2022)
- Revenue: KRW 42.25 trillion (Q2, 2023)
- Number of employees: 120,000 +
- Market capitalization: $19.02B (August 14, 2023)
- Parent: Hyundai Motor Group (2000–present)
Headquartered in South Korea, a popular automotive company Hyundai manufactures great automobile products. The company was founded in the year 1967 as a construction company by Chung Ju-Yung. Down the years, the company saw major restructuring and now it is named Hyundai Motor Company. It designs, produces and sells vehicles across the globe.
Their vehicles are designed with great care to become the lifetime companion for the customer. It has great brand equity and is the largest exporter of cars in the Asian market. Their automobile products are acknowledged for its quality products which produce a great performance. The company has about eight products targeting small car segments like Eon to SUV segment like Santa Fe.
Hyundai Motor sold 1,059,713 units around the globe in the second quarter of 2023. Its net profit (including non-controlling interest) also was up 8.5 percent to KRW 3.35 trillion. Sales of full electric models jumped 47% Y/y to nearly 78,000 units.
The main strength of Hyundai vehicles is the excellent design and safety. The company has a great Research and Development wing which produces new innovative cars. As the company has a great experience in the automobile sector, Hyundai is indeed a to Honda competitor.
6) Audi
- Product Type: Luxury vehicles, SUVs, and more
- Industry: Automotive
- Founded date: 1909
- Founders: August Horch, Franz Fikentscher, and Josef Werlin
- Headquarters: Ingolstadt, Bavaria, Germany
- Area served: Worldwide
- Current CEO: Markus Duesmann
- Production output: 1.7 million cars (2022)
- Revenue: 16.9 EUR billion (March 2023)
- Number of employees: more than 90,000
- Market capitalization: $82.99 Billion (August 2023)
- Parent: Volkswagen Group
Yet another Honda competitor, Audi is an international company that is into design, manufacturing, and selling of luxury vehicles. It has about 11 productions across nine countries. It has a wide range of luxurious and comfortable cars that produces excellent engine performance.
Their main target groups are rich professionals and executives. It has a great position in the market which continuously progresses by using great technologies to produce luxury cars. Their various brands are Audi A1, Audi A3, Audi A4, Audi A5, Audi A6, Audi A7, Audi A8, Audi Q3, Audi Q5, Audi Q7, Audi R8, and Audi TT. They are available with petrol and diesel. Their cars range from hatchback to luxury SUVs.
According to the Audi Report 2022, the Audi Group delivered 1.61 million Audi vehicles, 15,174 Bentley vehicles, 9,233 Lamborghini vehicles, and 61,562 Ducati motorcycles to customers. Globally, Audi delivered 118,196 electric models to customers in 2022 — a 44.3% increase but only 7% of all Audis sold worldwide in 2022.
The cars manufactured by Audi are all equipped with strong features like LED illuminated interiors, parking sensors, Airbags, and many more. It makes use of the latest technologies like FSI and Quattro to enhance the engine performance. As it is a well-established brand, Audi is considered a top Honda competitor.
7) Nissan
- Product Type: Automobiles, SUVs, electric vehicles, and more
- Industry: Automotive
- Founded date: 1933
- Founders: Yoshisuke Aikawa, Masujiro Hashimoto, and Rokuro Aoyama
- Headquarters: Yokohama, Kanagawa, Japan
- Area served: Worldwide
- Current CEO: Makoto Uchida
- Production output: 3,250,800 units (2022)
- Revenue: $23.633B (March 31, 2023)
- Number of employees: 134,111 (2023)
- Market capitalization: $16.49B (August 15, 2023)
- Owner: Renault (43.4% cross ownership)
Also regarded as a top Honda competitor, Nissan is an international automobile company headquartered in Yokohama, Japan. Their popular brands are Nissan, Datsun, and Infiniti. One of the largest producers of electric vehicle worldwide, their approximate sale of electric vehicles is 275,000 per year.
Nissan has 31 manufacturing plants worldwide and offers products and services in more than 160 countries.
The most popular Nissan car models are the Nissan Rogue and the Nissan Altima. These models have consistently been popular among consumers due to their reliability, practicality, and value for money.
In the first quarter of 2023, Nissan Group announced total U.S. first quarter sales for 2023 of 235,818 units, an increase of 17.3% versus the prior year. Nissan Motor net income for the quarter ending March 31, 2023 was $0.795B.
This company is located in about 190 countries worldwide. Nissan invests a lot in Research and Development. The company’s main market area is China, Russia, US, and Japan. The company produces various products like passenger cars, sports utility vehicles, zero-emission vehicles, luxury cars and many more. The company possesses an excellent Research and Development wing which resulted in developing the best electric vehicle.
It has a great presence in the automobile market and is an emerging automotive market. Due to their high-quality products, Nissan is considered a top Honda competitor.
8) Volkswagen
- Product Type: Automobiles, commercial vehicles, and more
- Industry: Automotive
- Founded date: 1937
- Founder: German Labour Front
- Headquarters: Wolfsburg, Lower Saxony, Germany
- Area served: Worldwide
- Current CEO: Herbert Diess
- Production output: 8.7 million (2022)
- Revenue: $81.791B (March 31, 2023)
- Number of employees: 669,275 (2022)
- Market capitalization: $43.97B (August 15, 2023)
- Parent: Volkswagen Group
A strong Honda competitor, Volkswagen is a popular brand in the automotive sector that is headquartered in Germany. The company was established in the year 1937. They mainly serve the production of heavy trucks, buses, cars, light trucks, motorcycles, and engines and machinery of maritime. It operates globally, with 119 production facilities in 19 European countries and 10 countries in the Americas, Asia and Africa.
Approximately Volkswagen produces about 9 million vehicles per year. It is the largest band in the automobile sector. The company’s main brands are the Volkswagen Jetta, Volkswagen Beetle, Volkswagen Passat, Volkswagen Phaeton, Volkswagen Polo, Volkswagen Vento, and Volkswagen Touareg. Customers can choose from their wide range of cars available. The company has a great brand image and its presence worldwide.
Volkswagen’s net income recorded was $4.518B for the quarter ending March 31, 2023.
The company has an excellent marketing strategy through print media, TVs, online ads etc. Due to their great innovation in their production, Volkswagen is considered one of the top Honda competitors.
9) Porsche
- Product Type: High-performance sports cars, SUVs, and electric vehicles
- Industry: Automotive
- Founded date: 1931
- Founder: Ferdinand Porsche
- Headquarters: Stuttgart, Baden-Württemberg, Germany
- Area served: Worldwide
- Current CEO: Oliver Blume
- Production output: 321,321 vehicles (2022)
- Revenue: €37.630 billion (2022)
- Number of employees: 39,162 (2022)
- Market capitalization: $104.02 Billion (August 2023)
A top German automobile company, Porsche is a German company in the automotive sector. It was founded in the year 1931. It is common for SUVs, Boxter roadster, and Luxury Sedans. It is the exceptionally luxurious car with a high reputation in the market. Their various brands are Porsche Boxster, Porsche Cayman, Porsche Cayenne, and the Porsche 911. It has a great reputation worldwide. It has into the production of hybrid cars and various plug-in model under the name Panamera S E-hybrid. The company is famous for installing the first charging station during the year 2017.
The company is owned by Volkswagen AG. Of the 321,321 vehicles produced in 2022, 41,947 were 911 models,18,080 were 718 Boxster/Cayman models, 91,117 were Macans, 98,113 were Cayennes,35,241 were Panameras and 36,823 were Taycan models. Porsche’s sales revenue in 2022 was €37.6 bn. It had 18% return on Sales. Its Production output was 321321 vehicles in 2022. Its net income was €4.957 billion. As of 2022, they had 39162 employees.
It is the first charging station in the world. Their cars are at a higher end and are most chosen by upper-class people. Due to their strong brand value and its great demand in the market, Porsche is considered as top Honda competitors.
10) Fiat
- Product Type: Automobiles, commercial vehicles, and more
- Industry: Automotive
- Founded date: 1899
- Founders: Giovanni Agnelli
- Headquarters: Turin, Piedmont, Italy
- Area served: Worldwide
- Current CEO: Olivier François
Fiat Automobiles known by the name Fiat was established in the year 1899 and headquartered in Italy. Fiat is a major automobile manufacturer in Italy. Fiat is involved in the design, engineering, production, and selling vehicles and various components of vehicles. It provides stylish, unique designs and affordable luxury cars. It produces approximately two million cars per year and it has been a technology driver car. It has made a joint venture with Tata Motor’s, India and Chery
Fiat has outperformed all other Stellantis brands in the first half of 2023, selling 645,000 vehicles globally, with half sold outside of the U.S. . The 2023 Fiat 500X crossover SUV has received positive reviews for its all-wheel drive capability, technology, and performance. According to Stellantis, Fiat delivered over 1.2 million units globally in 2022, including sales of Fiat Professional and Abarth, making it the best-selling automotive brand in the group.
Motors, China. Their famous brands are Fiat Linea, Fiat Palio Stile, Fiat Punto, and Fiat Avventura. It has a strong association with luxury brands. This company is a complete automobile industry that produces hatchbacks, sedans, and SUVs. Their main target group is young executives who are from upper-middle income bracket. Due to their high brand image, Fiat is considered one of the top Honda competitors.
11) Mitsubishi
- Product Type: Automobiles, commercial vehicles, and more
- Industry: Conglomerate
- Founded date: 1870
- Founders: Yataro Iwasaki
- Headquarters: Tokyo, Japan
- Area served: Worldwide
- Current CEO: Takaya Aoki
- Revenue: $153.657B (2022)
- Number of employees: 79,706 (2022)
- Market capitalization: $37.2B (September 05, 2023)
A top Honda competitor, Mitsubishi is an international automotive company established in the year 1970 and headquartered in Tokyo, Japan. It is the sixth largest automaker in Japan and sixteenth worldwide. It has a strong presence in the automobile industry and possesses a good financial position.
Their main segments in production include hatchbacks, sedans, and SUVs. Their main target group is young executives who are from upper-middle income bracket. Their brands include Mitsubishi Eclipse, Mitsubishi Lancer, Mitsubishi Pajero, and Mitsubishi Outlander. The company has seven manufacturing service units. It is a global brand with the great focus on technology.
Mitsubishi annual net income for 2022 was $8.344B. Mitsubishi annual gross profit for 2022 was $19.142B.
The company is highly customer focused. The vehicles are produced with great care to make it safe and strong. Due to their great value in cars and its innovations, Mitsubishi is considered as one of the top Honda competitors.
12) Maruti Suzuki
- Product Type: Automobiles
- Industry: Automotive
- Founded date: 1981
- Founders: Government of India and Suzuki Motor Corporation
- Headquarters: New Delhi, India
- Area served: India
- Current CEO: Hisashi Takeuchi
- Revenue: INR 1,125,008 million (2023)
- Market capitalization: $36.62 Billion (August 2023)
The popular automobile company, Maruti Suzuki was established in the year 1981 and headquartered in New Delhi, India. It first produced Maruti 800 during the year 1983. Maruti is powered by innovations and it is committed to producing the best vehicles for Indian roads. The company saw a great revolution after the produced and launched Maruti 800.
It made people drive cars with love and passion. Their cars are produced with great design and technology and their cars meet the expectations of the current trend in the automobile industry. Their car models are available in many segments with a wide price range to select. Their various brands are Maruti 800, Maruti A Star, Maruti Alto, Maruti Grand Vitara, Maruti Swift Dzire, and many more.
Maruti Suzuki India Ltd reported a 42.7% surge in its fourth-quarter profit for the year ended March 31, 2023, beating estimates as the country’s biggest carmaker benefited from strong demand for passenger cars. The company posted a profit of 26.24 billion rupees ($321.2 million) for the quarter ended March 31, compared to 18.39 billion rupees a year ago. In Q1 of FY2023-24, Maruti Suzuki India’s profit rose 145.31% to Rs 2,485 crore, and revenue was up by 22% . In June 2023, Maruti Suzuki’s consolidated net sales were at Rs 32,338.50 crore, up 21.98% YoY. Maruti Suzuki’s standalone net profit jumped 43% YoY to Rs 2,624 crore for the fourth quarter ended March 2023.
Maruti Suzuki has achieved the highest number of domestic sales by selling 1,966,164 units in the full financial year 2022-23. It has a strong brand value and loyal customer base. It has about 15 vehicles in its product portfolio and has good product lines with good fuel efficiency.
It is the largest passenger car with a strong brand value. The company was acknowledged with numerous awards. It has a great market share and it is large with respect to its domestic sale. Due to which it is considered a top Honda competitor.
13) Tata Motors
- Product Type: Automobiles
- Industry: Automotive
- Founded date: 1945
- Founder: J. R. D. Tata
- Headquarters: Mumbai, India
- Area served: Worldwide
- Current CEO: N. Chandrasekaran
- Number of employees: 59,000 (2022)
- Revenue: Rs 3.5 lakh crore (2023)
- Market capitalization: $26.86 Billion (August 2023)
A popular Japanese international automotive company, Tata Motors is headquartered in Japan. This company is the oldest and trusted brand with a high distribution in India. Their car segments include hatchbacks, sedan, and SUVs. Their main target group is upper-middle-class people. Their product portfolio is Tata Sumo, Tata Safari, Tata Indica, Tata Manza, Tata Nano, Tata Aria, and many more.
It is the most established company in the automobile industry with great service and distribution network. It shows a good penetration in taxi and rental segment. The company has a dedicated engineering wing to design new products. It also has a Research & Development wing to innovate new products. It is a strong brand in the market.
Tata Motors is pioneering India’s Electric Vehicle transition and is India’s largest selling commercial vehicle manufacturer and is amongst the top three in the passenger vehicles market.
For the full 2022-23 fiscal, Tata Motors reported a net profit of Rs 2,414 crore against a net loss of Rs 11,441 crore. Tata Motors registered total sales of 74,973 vehicles in May 2023. The company has operations in India, the UK, South Korea, and South Africa, with a network of 86 subsidiaries, ten associate companies, four joint ventures, and two joint operations as of March 31, 2022.
It produces each car with a great care and also meets the demand of its customers. Due to their popular demand, Tata Motors is considered as top Honda competitors.
14) Chevrolet
- Product Type: Automobiles, trucks, SUVs, and more
- Industry: Automotive
- Founded date: 1911
- Founders: Louis Chevrolet and William C. Durant
- Headquarters: Detroit, Michigan, United States
- Area served: Worldwide
- Current CEO: Mary Barra
- Revenue: US$72.1 billion (2022)
Chevrolet is a brand that offers a range of vehicles, including cars, trucks, SUVs, and electric and fuel-efficient cars. The brand is headquartered in Detroit, Michigan, and was founded in 1911. Chevrolet models include electric and fuel-efficient vehicles that feature engaging performance, design that makes the heart beat, passive and active safety features. The 2022 Chevrolet model lineup includes trucks such as the Colorado, Colorado ZR2 Bison, Silverado, Silverado 3500 HD, and Silverado HD, as well as SUVs and crossovers such as the Equinox. Chevrolet is committed to making electric vehicles accessible to everyone and is working hard to make sure there’s an electric vehicle for every drive.
Chevrolet sales increased 17-16% to 852,187 units during the second quarter of 2023. The Chevrolet Camaro sales increased by 110% in Q2 2023. Chevrolet realized a total revenue of US$72.1 billion worldwide in 2022.
15) Skoda
- Product Type: Automobiles
- Industry: Automotive
- Founded date: 1895
- Founders: Václav Laurin and Václav Klement
- Headquarters: Mladá Boleslav, Czech Republic
- Area served: Worldwide
- Current CEO: Thomas Schäfer
- Revenue: €21.0 billion (2022)
- Number of employees: 45,000
Skoda is a Czech automobile manufacturer that was established in 1925 as the successor to Laurin & Klement and is headquartered in Mladá Boleslav, Czech Republic. Skoda is one of the oldest automotive manufacturers in the world, with 120 years of history. Skoda Works was established as an arms manufacturer in 1859 and became state-owned in 1948. After 1991, Skoda was gradually privatized to the German Volkswagen Group, becoming a partial subsidiary in 1994 and a wholly-owned subsidiary in 2000. Skoda has produced a vast range of products over the last 12 decades, from bicycles to racing cars, with the original factory in Mladá Boleslav always at the heart of operations. Skoda has gone from strength to strength, from a laughing stock to a highly regarded brand, consistently staying at the top when it comes to customer satisfaction surveys.
Skoda has a reputation for producing reliable and affordable cars. Skoda has a strong commitment to sustainability and views it as an essential requirement for a successful future. Skoda has a number of models, including the Skoda Fabia, Octavia, Yeti, and CitiGo. The top-selling Skoda models in full-year 2022 were the Octavia (215,000 units), Rapid (128,000 units), and Kamiq (82,000 units).
Skoda’s sales revenue increased by 18.5% to €21.0 billion in fiscal year 2022. The Škoda Auto Group1) delivered 731,300 vehicles worldwide in 2022. There was strong demand for the Kushaq SUV model, and the Enyaq iV was also very popular with customers. The ŠKODA brand produced 0.8 million vehicles worldwide in fiscal year 2022. It has achieved a positive operating profit amounting to 628 million euros. The year 2022 had 45,000 Škodians.
16) Volvo
- Product Type: Trucks, buses, construction equipment, and automobiles
- Industry: Automotive
- Founded date: 1927
- Founders: Assar Gabrielsson and Gustaf Larson
- Headquarters: Gothenburg, Sweden
- Area served: Worldwide
- Current CEO: Jim Rowan
- Production output: 615,000 (2022)
- Revenue: 473.479 billion kr (2022)
- Number of employees: over 102,155 (2022)
- Market capitalization: $41.84 Billion (August 2023)
Volvo is a popular manufacturing company that was established during the year 1927 and is headquartered in Gothenburg, Sweden. Its main activities are the production, distribution, and sale of buses, trucks, and construction equipment; it also supplies industrial and marine drive systems. The company also produces sedan vehicles, sport utility vehicles, marine, industrial engines, and construction equipment. Volvo focuses on quality and durability of cars by taking the utmost care with the materials used in its manufacturing.
The company has a diverse portfolio and hence it is well balanced for their business operations and provides end-to-end solutions. It has a leading position in their business segments. The company focuses strongly on research and development and invests a huge amount on it. By maintaining a strong R&D it has always maintained a competitive edge over the competitors and because of this, Volvo is considered one of the top BMW competitors.
Volvo cars are available worldwide through approximately 2,300 local dealerships in nearly 100 countries. As of 2022, it has plants in 19 countries, with 10 other countries having independent assemblers of Volvo products.
During the first five months of 2023, the company sold 275,312 cars. In full-year 2022, Volvo global sales contracted by 12% to 615,121 cars with the XC60 against the most-popular model worldwide.
17) Chrysler
- Product Type: Automobiles, minivans, and SUVs
- Industry: Automotive
- Founded date: 1925
- Founder: Walter P. Chrysler
- Headquarters: Auburn Hills, Michigan, United States
- Area served: North America, Europe, and China
- Current CEO: Christine Feuell
Chrysler is an American automotive company that was first incorporated in 1925 as Chrysler Corp. It was founded by Walter P. Chrysler, who built it into the country’s second-largest automobile manufacturer, is noted for its Plymouth, Dodge, Chrysler, and Jeep vehicles. In 1980, the corporation was rescued from the verge of bankruptcy by a government bailout organized by Lee Iacocca. Chrysler merged with the German automaker Daimler-Benz in 1998 to become DaimlerChrysler AG, but the two companies separated in 2007. In 2021, Fiat Chrysler merged with the French company PSA Group to form Stellantis.
Chrysler introduced the Dodge Caravan and Plymouth Voyager minivans in the fall of 1983, which led the automobile industry in sales for 25 years. Chrysler began dividing its vehicles by price and function in 1928, forming the Plymouth brand for the low-end market and the DeSoto brand for the mid-range.
Since its a Stellantis grp, data could not be found.
18) General Motors
- Product Type: Automobiles, trucks, and commercial vehicles
- Industry: Automotive
- Founded date: 1908
- Founders: William C. Durant, Charles Stewart Mott, Frederic L. Smith
- Headquarters: Detroit, Michigan, United States
- Area served: Worldwide
- Current CEO: Mary Barra
- Production output: 5,939,000 vehicles (sales, 2022)
- Revenue: $44.746B (June 30, 2023)
- Number of employees: 167,000 (2022)
- Market capitalization: $46.88B (August 14, 2023)
General Motors Company (GM) is an American corporation that designs, builds, and sells vehicles and parts under various brands in North America, the Asia Pacific, the Middle East, Africa, South America, the United States, and China . It also provides financial services through GM Financial . It was founded in 1908 by William C. Durant and has its headquarters in Detroit, Michigan. Some of its major brands include Buick, Cadillac, Chevrolet, GMC, Pontiac, Hummer, Saab, Opel, Vauxhall, and Holden. In May 2023, GM announced the creation of GM Envolve, a synergistic combination of the company’s business-to-business products and services into a new division with an emphasis on helping customers with sustainability goals and providing future-forward technology. The new entity is focused on GM’s proprietary electric, fuel cell, autonomous and, intelligence platforms.
In May 2023, GM announced the creation of GM Envolve. As of January 2023, GM is ranked 25th on the Fortune 500 rankings of the largest United States corporations by total revenue. General Motors Company net income was $2.540B for the quarter ending June 30, 2023.
19) GAC Group
- Product Type: Automobiles, commercial vehicles, buses, and more
- Industry: Automotive
- Founded date: 1954
- Founder: Guangzhou Municipal Government
- Headquarters: Guangzhou, Guangdong, China
- Area served: China
- Current CEO: Feng Qingfeng
- Revenue: 110 billion yuan (2022)
- Number of employees: 7,500 (2022)
GAC Group is a Chinese state-owned automobile manufacturer headquartered in Guangzhou, Guangdong. It was founded in 1954 and is currently the fifth largest automobile manufacturer in China, with 2.144 million sales in 2021. GAC Group operates through several business sectors, including Auto R&D, Vehicles, Parts & Components, Trade Services, Financial Services, and Transportation. GAC Motor is a subsidiary of GAC Group, which focuses on making complete vehicles, auto parts, and their trading. It was founded in 2008 and is headquartered in Guangzhou. As a pioneer in innovation, GAC MOTOR develops, manufactures, assembles, and sells premium cars, setting trends in smart manufacturing and R&D capabilities. GAC Group is owned by the Guangzhou municipal government and is a second-tier automaker in China, after the country’s three biggest automakers.
The company’s overall revenue increased about 45.36 percent year-on-year to around 110 billion yuan ($15.98 billion) in 2022.GAC Group produced 2.48 million and sold 2.43 million vehicles last year, with year-on-year growth of 16 percent and 13.5 percent respectively. They have 7,500 employees at more than 300 offices in over 50 countries worldwide. As of June 2023 GAC (Guangzhou Automobile Group) has a market cap of $12.55 Billion.
20) Aptiv
- Product Type: Automotive technology
- Industry: Automotive
- Founded date: 1994
- Founders: None
- Headquarters: Dublin, Ireland
- Area served: Worldwide
- Current CEO: Kevin P. Clark
- Revenue: $19.3 billion (2022)
- Number of employees: 160,000 (2022)
Aptiv is a global technology company that develops solutions for the future of mobility. It has 131 manufacturing facilities and 11 major technical centers worldwide. Aptiv manufactures and distributes vehicle components, including connector wires, safety restraint systems, pin headers, and underwater towed vehicles.
The company was formerly known as Delphi Automotive Systems and was a component of General Motors before becoming independent. In December 2017, the company divested its powertrain division and aftermarket related businesses and changed its name to Aptiv PLC. The company acquired Wind River Systems, a company known for its development of real-time operating systems, in January 2022.
The company also reported U.S. GAAP net income of $1.96 for the fourth quarter of 2022. The net income in 2022 was US$590 million. As of June 2023 Aptiv has a market cap of $26.34 Billion. Aptiv annual gross profit for 2022 was $2.635B.
Conclusion
Automobiles are required in our day to day life and every automobile industry strives hard to cater to various requirements. They make use of technology to keep up with the current trend of moving forward with technology. Honda makes use of technologies and strives hard to produce great cars.
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