This article discusses the 5 Best Selling Car Brands in the World. If you want to get detailed analysis on the global automotive industry, you can head on to 15 Best Selling Car Brands in the World.
5. Hyundai Motor Company (OTC:HYMTF)
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. Even Ford Motor Company (NYSE:F) adjusted EBIT was at a solid $10.4 billion, right in line with their goals post new contract deals with UAW and Unifor.
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%.
And guess what – GM’s electric vehicle sales also picked up steam, hitting record numbers in 2023. Even though they slowed down on rolling out new electric rides to match market demand, 2023 was a stellar year for their Bolt EV and EUV models, with sales jumping by 63% to hit 60,045 units.
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.
They definitely rocked the electric vehicle market and snagged extra market space in that corner. 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.
With supply chain issues getting smoother, inventories bouncing back, and folks itching to get behind the wheel, 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.
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