Not long ago, the top spot among global car companies based on unit sales was a race among Toyota, General Motors, and Volkswagen. The race is not close anymore. Toyota Motor Corp. (NYSE: TM) sold 11.2 million cars last year, which includes its Toyota, Lexus, Daihatsu, and truck business Hino Motors. When Toyota and Lexus are considered separately from the others, sales reached 10.3 million.
Volkswagen, likely to take the second place, sold 9.2 million vehicles. It also owns Audi, Porsche, and several other smaller brands. GM has not reported global sales yet, but they are not expected to match those of its Japanese or German rivals. (See which 11 cars are still mostly made in America.)
Along with GM, two other global manufacturers sell over 6 million units yearly (except for a drop in COVID-19 pandemic sales). These are South Korea’s Hyundai/Kia and Stellantis, the Italian company that owns Chrysler.
Electric vehicle sales have picked up enough so that they are a small percentage of sales at each industry giant. However, EV-only Tesla sold 1.8 million cars last year. The stock market considers EVs the vehicles of the future. Because of this, Tesla has a market cap of almost $700 million. Toyota’s is $272 billion, based on NYSE data.
Toyota’s lead is large enough that it is unlikely any other car company will catch it in unit sales over the next several years.
Want to Retire Early? Start Here (Sponsor)
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Have questions about retirement or personal finance? Email us at [email protected]!
By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.
By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
