17 World’s Largest Car Corporations in 2024

 

17 World’s Largest Car Corporations in 2024- According to the Annual Report in 2024, there are 17 World’s Largest Car Corporations. Basically, in this article, the rank is clustered into total assets and net income / profit of car corporations in 2024. The corporations that we ranked are public corporations which have listed their stocks in stock markets and many people can buy and trade their stock, as well as looking at their financial conditions. With these conditions as a public company, many people can access the financial statements of the company from time to time/ periodically. 

 

Commonly, automotive corporations are a wide array of corporations dedicated to the design, development, manufacturing, marketing, and selling of cars. These corporations range from massive multinational conglomerates with numerous brands to niche manufacturers focused on specific market segments. Financially, as the world’s largest car company, the car corporations have a billion US dollars of total assets and successfully generated net income in 2024.

 

Many of us still know these car corporations because many people use vehicle products from these corporations. Many different models, brands, and technologies can be seen from their products. Here is the rank of 17 world’s largest car corporations based on the amount of net income/profit obtained by each car company in 2024. The data of net income / profit can be seen in the income statement of the Annual Report in 2024.

 

Rank of 17 World’s Largest Car Corporations in 2024 Based on Net Income

 

Rank	Name of Car Corporations	Total Revenue		Net Income
		Origin Currency	US. Dollar	Origin Currency	US. Dollar
1	Toyota Motor Corp.	JPY 48,268 billion	USD 328 billion	JPY 4,789 billion	USD 32.5 billion
2	Volkswagen AG	EUR 324 billion	USD 359 billion	EUR 12.3 billion	USD 13.65 billion
3	Mercedes-Benz Group	EUR 145 billion	USD 160 billion	EUR 10.4 billion	USD 11.5 billion
4	Hyundai Motor Co.	KRW 175,231 billion	USD 124 billion	KRW 13,229 billion	USD 9.3 billion
5	BMW Group	EUR 142 billion	USD 157 billion	EUR 7.6 billion	USD 8.4 billion
6	Honda Motor Co.	JPY 20,428 billion	USD 138 billion	JPY 1,182 billion	USD 8 billion
7	Tesla	USD 97.6 billion	USD 97.6 billion	USD 7 billion	USD 7 billion
8	KIA	KRW 107,448 billion	USD 76.2 billion	KRW 9,775 billion	USD 6.9 billion
9	Stellantis	EUR 156 billion	USD 173 billion	EUR 5.5 billion	USD 6.1 billion
10	General Motors Co.	USD 187 billion	USD 187 billion	USD 5.9 billion	USD 5.9 billion
11	Ford Motor Co.	USD 184 billion	USD 184 billion	USD 5.8 billion	USD 5.8 billion
12	BYD	RMB 777 billion	USD 108 billion	RMB 41.5 billion	USD 5.8 billion
13	Volvo Group	SEK 526 billion	USD 52.6 billion	SEK 50.5 billion	USD 5 billion
14	Nissan	JPY 12,685 billion	USD 86.2 billion	JPY 426 billion	USD 2.89 billion
15	Ferrari NV	EUR 6.6 billion	USD 7.3 billion	EUR 1.5 billion	USD 1.6 billion
16	Renault Group	EUR 56.2 billion	USD 62.3 billion	EUR 0.89 billion	USD 0.98 billion
17	Mitsubishi Motor	JPY 2,788 billion	USD 18.9 billion	JPY 50.6 billion	USD 0.34 billion
Source: Annual Report, 2024
Origin Currency: Currency Officially Used in Annual Report 2024
US Dollar: Currency that is converted to US Dollar from Origin Currency Using Currency Rates Below
Currency Rates:
	1 Japanese Yen (JPY) = 0.0068 US Dollar (USD)
	1 Euro (EUR) = 1.11 US Dollar (USD)
	1 Korean Won (KRW) = 0.00071 US Dollar (USD)
	1 Renminbi (RMB) = 0.14 US Dollar (USD)
	1 Swedish Krona (SEK) = 0.10 US Dollar (USD)

 

Of course, from the rank above, several big players such as Volkswagen AG, Toyota Motor Corp, Hyundai Motors, BMW Group, Stellantis, and Daimler AG are still the top 6 world's biggest car corporations based on net income in 2024. 

In addition to analyzing the company’s income and revenue, we also analyze the data related to the company’s total assets and total liabilities taken from the balance sheet of the annual report of each company in 2024. The total assets and liabilities can describe the financial position of the company in 2024. Logically, corporations with less total liabilities than assets can be an indication of healthier corporations.

 

The Rank of 17 World’s Largest Corporations Based on Total Assets in 2024

 

Rank	Name of Car Corporations	Total Assets		Total Liabilities
		Origin Currency	US. Dollar	Origin Currency	US Dollar
1	Volkswagen AG	EUR 632 billion	USD 701 billion	EUR 436 billion	USD 483 billion
2	Toyota Motor Corp.	JPY 93,601 billion	USD 636 billion	JPY 56,722 billion	USD 385 billion
3	BMW Group	EUR 267 billion	USD 296 billion	EUR 172 billion	USD 190 billion
4	Mercedes-Benz Group	EUR 265 billion	USD 294 billion	EUR 171 billion	USD 189 billion
5	Ford Motor Co.	USD 285 billion	USD 285 billion	USD 240 billion	USD 240 billion
6	General Motors Co.	USD 279 billion	USD 279 billion	USD 214 Billion	USD 214 Billion
7	Hyundai Motor Co.	KRW 339,798 billion	USD 241 billion	KRW 219,552 billion	USD 155 billion
8	Stellantis	EUR 207 billion	USD 229 billion	EUR 125 billion	USD 138 billion
9	Honda Motor Co.	JPY 29,774 billion	USD 202 billion	JPY 16,768 billion	USD 114 billion
10	Renault Group	EUR 129 billion	USD 143 billion	EUR 98.2 billion	USD 109 billion
11	Nissan	JPY 19,855 billion	USD 135 billion	JPY 13,874 billion	USD 94 billion
12	Tesla	USD 122 billion	USD 122 billion	USD 48 billion	USD 48 billion
13	BYD	RMB 783 billion	USD 109 billion	RMB 584 billion	USD 81 billion
14	Volvo Group	SEK 714 billion	USD 71.4 billion	SEK 517 billion	USD 51.7 billion
15	KIA	KRW 92,775 billion	USD 65.8 billion	KRW 36,915 billion	USD 26.2 billion
16	Mitsubishi Motor	JPY 2,245 billion	USD 15.2 billion	JPY 1,272 billion	USD 8.6 billion
17	Ferrari NV	EUR 9.4 billion	USD 10.4 billion	EUR 5.9 billion	USD 6.5 billion
Source: Annual Report, 2024
Origin Currency: Currency Officially Used in Annual Report 2024
US Dollar: Currency that is converted to US Dollar from Origin Currency Using Currency Rates Below
Currency Rates:
	1 Japanese Yen (JPY) = 0.0068 US Dollar (USD)
	1 Euro (EUR) = 1.11 US Dollar (USD)
	1 Korean Won (KRW) = 0.00071 US Dollar (USD)
	1 Renminbi (RMB) = 0.14 US Dollar (USD)
	1 Swedish Krona (SEK) = 0.10 US Dollar (USD)

 

 

Regarding the 17 Largest Car Corporations in the World in 2024, here are some brief explanations related to the description of each company taken from various sources, especially data from the Company’s Annual Report.

 

In the annual Report of 2024, we also looked at and analyzed the other variables related to the business performance of world’s largest automotive or car corporations, namely total vehicle sales. In these variables, we can see total sales of cars throughout the year 2024 from each car manufacturing company which successfully sold cars achieving thousands and millions of units.

 

The Rank of 17 World’s Largest Corporations Based on Total Vehicle Sales in 2024

 

Rank	Name of Automotive Corporations	Total Vehicle/Car Sales in 2024
		(in Thousands of Units)
1	Toyota	9,443
2	Volkswagen Group	9,037
3	General Motors Company	6,001
4	Stellantis N.V.	5,526
5	Ford Motor Company	4,470
6	BYD Company Ltd	4,270
7	Hyundai Motor Company	4,141
8	Nissan Motor Corporation	3,346
9	Kia Corporation	3,089
10	The BMW Group	2,450
11	The Mercedes-Benz Group	2,389
12	Renault Group	2,264
13	Tesla Inc	1,789
14	Mitsubishi Motors Corporation	842
15	Volvo Car Corporation	763
16	Honda Motor	410
17	Ferrari N.V.	14
Source: Annual Report, 2024

 

From the table above, The Toyota Motor Company still became the car manufacturer company which has the best-selling car in the year of 2024 with total vehicle units reaching 9.4 million units. Meanwhile, Volkswagen Group is still behind Toyota with total vehicle sales reaching 9.0 million units. Furthermore, Stellantis N.V., Ford Motor Company, BYD Company Ltd, Hyundai Motor Company still becomes the top 10 best-selling car corporations throughout the year of 2024 with total vehicle sales reaching 5,526 thousand units, 4,470 thousand units, 4,270 thousand units, and 4,141 thousand units, respectively.

 

Brief Description of 17 World’s Largest Car Corporations in 2024

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1.Volkswagen AG

Founded on May 28, 1937, and still has a head office in Wolfsburg, Germany, Volkswagen has become one of the world’s largest car corporations in 2024 with the total workforce being around 679 thousand people across the nation. Along with business development in 2024, The Volkswagen Group operated in 153 countries producing miscellaneous vehicle brands such as Audi, Bentley, Bugatti, Lamborghini, Porsche, SEAT/ CUPRA, Volkswagen Passenger Cars, Volkswagen Commercial Vehicles, International, and SKODA. In addition, Volkswagen AG has a stake in the truck, bus, and diesel engine manufacturers, namely Scania AB, International, VW Trucks, and MAN SE. Specifically, in 2024, total vehicle sales of Volkswagen Group from all brands achieved 9.03 million units.

 

Financially according to the annual report, in 2024, the Volkswagen Group successfully generated total revenues of EUR 324 billion or equivalent to USD 359 billion with gaining a net profit of EUR 12.3 billion or equivalent to USD 13.65 billion. In terms of financial position, Total Assets of Volkswagen Group in 2024 reached EUR 632 billion or equivalent to USD 701 billion with total liabilities EUR 436 billion or equivalent to USD 483 billion.

           

2.Toyota Motor Corp.

Toyota Motor Corporation is one of the world’s largest car corporations from Japan. Based on its history, the company was founded by Kichiro Toyoda on August 28, 1937. Until now, Toyota Motor Corporation produced vehicles under various brands such as Carmy, Corolla, RAV4, Highlander, Yaris, Hilux, Tacoma, Sienna, Avanza, Innova, Hino, Lexus, Ranz, and Daihatsu brands. In addition, this company also has shares in several well-known car corporations such as Subaru Corporation with  20.02% of the stake, 5.1% of stake in Mazda, 4.9% of stake in Suzuki, 4.6% of stake in Isuzu, 3.8 % of shares in Yamaha Motor Corporation, and 2.8% of shares in Panasonic, as well as several business partnerships in China, namely GAC Toyota and Sichuan FAW Toyota Motor, in India namely Toyota Kirloskar, and several partnerships in foreign countries. As of 2024, Toyota Motor Corporation has 380 thousand employees and Toyota Motor Corporation successfully sold a total vehicle around 9,443 thousand units globally.

Financially, in 2024, based on its financial performance on the annual report of 2024, Toyota Motor successfully generated total revenues of JPY 48,268 billion or equivalent to USD 328 billion with a net income of JPY 4,789 billion or equivalent to USD 32.5 billion. In the financial positions, based on the balance sheet in 2024, Toyota Motor Corporation has total assets of around JPY 93,601 billion or equivalent to USD 636 billion with total liabilities of around JPY 56,722 billion or equivalent to USD 385 billion.

 

3. Mercedes-Benz Group

Mercedes-Benz Group is one of the world’s largest car corporations in 2024 headquartered in Stuttgart, Baden-Württemberg, Germany that was formerly known as Daimler-Benz and Daimler Chrysler. This company is generally known as the Mercedes-Benz car brand. Historically, Daimler-Benz was formed with the merger of Benz & Cie and Daimler Motoren Gesellschaft in 1926. The company was later renamed Daimler Chrysler following the acquisition of American automaker Chrysler Corporation in 1998, but it was renamed again as Daimler AG following the divestment of Chrysler to Cerberus Capital Management in 2007 (Chrysler is currently owned by Stellantis). Until, on 28 January 2022, initiated by, CEO Ola Källenius announced that Daimler is rebranded as Mercedes-Benz to pursue a higher valuation for the company as it shifts deeper into high-tech electric vehicles.

 

In 2024, Mercedes-Benz had several cars, buses, trucks, and motorcycle brands including Mercedes-Benz Cars (Mercedes-Benz, Mercedes-AMG (High performance vehicles), Mercedes Maybach), Smart, Mercedes-Benz Vans, Mercedes-Benz Mobility. As of 2024, Mercedes-Benz Group has total employees reaching 175,264 people. In addition, Mercedes-Benz group has over 30 production facilities in Europe (Germany, Poland, Czech Republic, Hungary, Slovenia, Romania, Spain), North America (USA and Mexico) and South America (Argentina), Asia (India, China, Thailand, Vietnam, Malaysia) and Africa (Egypt and South Africa). Overall, in the automotive industry, Mercedes-Benz Group successfully sold vehicles reaching 2.38 million units in the year of 2024. Specifically, In the year of 2024, some of the best-selling vehicles of Mercedes-Benz Groupcar brands are  C-Class  with total vehicle sales reaching 725,129 units, E-Class (512,143 units), A-Class (374,033 units), B-Class (183,772 units), Mercedes-AMG (140,073 units), S-Class (127,073 units), G-Class (42,260 units), and Mercedes-Maybach (21,302 units).

Financially, in 2024, the Mercedes-Benz Group earned total revenue of EUR 145 billion, or equivalent to USD 160 billion, and a net income of EUR 10.4 billion or equivalent to USD 11.5 billion. In terms of financial position on the balance sheet of 2024, Mercedes-Benz Group has total assets of around EUR 265 billion or equivalent to USD 294 billion with total liabilities of around EUR 171 billion or equivalent to USD 189 billion.

 

4.General Motors Company

The General Motors Company is one of the world’s largest car corporations from the United States, headquartered in Detroit, Michigan. Historically, the company was founded by William C. Durant on September 16, 1908, as a holding company, and the current entity was founded in 2009 after being restructured. The company is the largest American automaker and one of the largest automakers in the world.

 

Along with the development of the company, they have produced many cars with well-known brands in the world. Some of General Motors brands include Chevrolet, Buick, GMC, Cadillac, Baojun, Jiefang, and Wuling. Along with the development of the company’s business, the company has a total of 165,000 employees, 150 production plants, and more than 4,000 dealers in the United States as of 2024. Based on business performance in the year 2024, General Motors successfully sold 6 million units of its cars from all brands worldwide.

Financially according to its annual report in 2024, General Motors successfully generated revenues of USD 187 billion and a net income/ profit of USD 5.9 billion. In terms of financial position, General Motors has total assets of around USD 279 billion with total liabilities of around USD 214 billion.

 

5.BMW Group

The BMW (Bayerische Motoren Werke) group is an international car company originating from Germany. They started their business on March 7, 1916. Historically, the founders of this company are Camillo Castiglioni, Franz Josef Popp, and Karl Rapp. According to its history, at its inception in 1916, the company was originally named Bayerische Flugzeugwerke AG which later changed its name to Bayerische Motoren Werke (BMW) in 1922. Initially, the company produced airplanes, motorcycle engines, agricultural equipment, and household goods. The company produced motorcycles in 1923, and BMW became an automobile manufacturer in 1928 when it bought the Fahrzeugfabrik Eisenach. Along with the development, until 2024, BMW Group has managed some famous brands, namely BMW, Mini, and Rolls-Royce. Commonly, these brands are recognized as premium class vehicles.

 

To date, the BMW Group has its head office in Munich. Furthermore, the BMW Group’s production area is in 31 locations in 15 countries with total employees of around 159 thousand people in the year 2024. Overall, in 2024, BMW sold its overall vehicle into 140 markets worldwide with total deliveries of BMW series in 2024 reaching 2.2 million units. Furthermore, total vehicle deliveries of all models of MINI are around 244,925 units and the total deliveries of Rolls-Royce reached 5,712 units.

Financially, in the year 2024, this company earned revenues of EUR 142 billion or equivalent to USD 157 billion with a net income or profit of EUR 7.6 billion or equivalent to USD 8.4 billion. In terms of financial position, total assets of BMW Group are around total assets of around EUR 267 billion or equivalent to USD 296 billion. Furthermore, total liabilities of around EUR 172 billion or equivalent to USD 190 billion.

 

6. Ford Motor Company

The Ford Motor Company, commonly known as Ford, is an American multinational automaker has the head office in Dearborn, Michigan. Founded by Henry Ford on June 16, 1903. The company sells cars and commercial vehicles under the Ford brand and most luxury cars under the Lincoln brand. Furthermore, in terms of the business expansion, Ford also acquired the Brazilian SUV carmaker Troller in 2007 and owns an 8% stake in Britain’s Aston Martin and a 32% stake in Jiangling Motors. In terms of business sales, Ford Motor Company successfully sold approximately 4,470,000 vehicles throughout the world in the year 2024. Furthermore, the approximate number of Ford Motor dealerships worldwide is around 9,006. In terms of workforce, Ford Motor has employed 171 thousand employees.

 

Financially, in 2024, According to Annual Report of 2024, Ford Motor Company showed a satisfactory performance. In that year, the Ford Motor Company successfully earned revenues of USD 184 billion and successfully gained a net income of USD 5.8 billion. In terms of financial position, the total assets of Ford Motor company reached USD 285 billion with total liabilities of around USD 240 billion.

 

7.Stellantis NV

Stellantis N.V is a global car company that was formed in 2023. Structurally, this company is the merger between Fiat Chrysler Automobiles (FCA) and the French PSA (Peugeot S.A.) Group. As of this merger, this company, Stellantis controls many vehicle brands including Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS, Fiat, Fiat Professional, Jeep, Lancia, Maserati, Mopar, Opel, Peugeot, Ram, and Vauxhall. Along with business development, on December 31, 2024, Stellantis had a total of 248,243 employees. Meanwhile, in terms of business conditions, in the year 2024, Stellantis successfully shipped 5,415 thousand of its vehicles from all brands worldwide.

 

 

 

Financially, in 2024, Stellantis N.V has total assets around EUR 207 billion or equivalent to USD 229 billion and total liabilities around EUR 125 billion or equivalent to USD 138 billion. Based on business performance in 2024, Stellantis N.V gained total revenue around EUR 156 billion or equivalent to USD 173 billion and net income around EUR 5.5 billion or equivalent to USD 6.1 billion.

 

8.Hyundai Motor Co.

The Hyundai Motor Company, as we know “Hyundai” is a South Korean multinational car manufacturer and still has a head office in Seoul, South Korea. Hyundai Motor Company. The founding father of the company is Chung Ju-yung, which was started in 1967. Along with a hard-working and long-lasting commitment to survive, he continues to develop his business with various vehicle variants. In addition to its well-known Hyundai brand, the company has an affiliation with Kia Corporation (the manufacturer of KIA cars) because it owns a 33% stake.

To date, Hyundai operates the world’s largest integrated car manufacturing facility in Ulsan, South Korea with an annual production capacity of 1.6 million units and successfully has total vehicle sales of 4,141,959 units. The company also employs about 250,000 employees worldwide in 2024. Hyundai has sold its products in many countries through thousands of dealers and showrooms. In 2024, financially, Hyundai Motor still showed a positive performance by obtaining total revenue of KRW 175,231 billion or equivalent to USD 124 billion with a net income or profit of KRW 13,229 billion or equivalent to USD 9.3 billion. In terms of financial position in 2024, Hyundai Motor has total assets of around KRW 339,798 billion or equivalent to USD 241 billion with total liabilities of around KRW 219,552 billion or equivalent to USD 155 billion.

 

 9.Honda Motor Co.

The Honda Motor Company, Ltd. is a Japanese multinational car company which produces cars, motorcycles, and electrical equipment, headquartered in Minato, Tokyo, Japan. Historically, Honda Motor was founded in September 1948. Along with business development, Honda has become one of the world’s largest motorcycle manufacturers since 1959. In 2024, Honda Motor Company can sell 18 million motorcycles and 4.1 million cars. Besides their core business of automobiles and motorcycles, this corporation also manufactures garden equipment, marine engines, personal boats, and electric generators, among other products. Financially in 2024 according to its annual report, Honda recorded total revenues of JPY 20,428 billion or equivalent to USD 138 billion and a net profit of JPY 1,182 billion or equivalent to USD 8 billion. In terms of financial position, the total assets of Honda Motor reached JPY 29,774 billion or equivalent to USD 202 billion with total liabilities around JPY 16,768 billion or equivalent to USD 114 billion.

 

10.Tesla

Tesla, Inc. is an electrical and environmentally friendly car company based in Palo Alto, California. Based on business operation, Tesla products include electric cars, energy storage batteries, solar panels, and solar roofs. Founded in July 2003 by Martin Eberhard and Marc Tarpenning, Tesla’s name is a tribute to the famous inventor and electrical engineer from the United States, Nikola Tesla. Since Elon Musk leads this company, who has been CEO since 2008, the company has grown rapidly by releasing various variants of its electric vehicle models. As of 2024, Tesla Motor has some factories located in Gigafactory Texas Austin (Texas), Fremont Factory Fremont (California), Gigafactory Nevada Sparks (Nevada), Gigafactory Berlin-Brandenburg Grünheide (Germany), Gigafactory Shanghai (China), Megafactory Shanghai (China), Gigafactory New York Buffalo, and (New York), Megafactory Lathrop (California).

Historically, Tesla started the production of their car model namely, the Tesla Roadster in 2009 and the Model S sedan in 2012, the Model X SUV in 2015, the Model 3 sedan in 2017, the Model Y in 2022, and Cybertruck. Many of these models are selling well in the international market. In the year of 2024, Tesla Motor has a production of around 1,773,443 units and successfully delivered its vehicle reaching 1,789,226 units of all models. Financially, in 2024, the Tesla Motor still showed a positive performance by obtaining revenues of USD 97.6 billion with a net profit of USD 7 billion. In terms of financial position, Tesla Motor has total assets of USD 122 billion with total liabilities of around USD 48 billion.

 

11. BYD 

BYD Company Limited was founded on February 10th, 1995, by initiative of Wang Chuanfu. Operationally, the BYD has main office in Shenzhen, Guangdong, China and still focusing on manufacturing of electric and hybrid vehicle with some popular car models namely, BYD Song Plus  with global sales of 511,962 units, BYD Seagull (479,294 units), BYD Qin Plus (443,186 units), BYD Yuan Plus (309,536 units), BYD Qin L (284,345 units), BYD Song Pro (280,755 units), Destroyer 05 (263,649 units), Han (258,452 units), Seal 06DM-i (236,495 units), and BYD Dolphin (198,320 units). Overall, in the year 2024, BYD Auto successfully continued their rapid development with a sales volume of 4.27 million new energy vehicles (NEVs), including both battery electric vehicles (BEVs) and plug-in hybrid vehicles (PHEVs).

 

Financially, according to its annual report in 2024, the BYD has total assets reaching RMB 783 billion or equivalent to USD 109 billion and total liabilities about RMB 584 billion or equivalent to USD 81 billion. Furthermore, based on the business performance in 2024, the BYD could generate revenue of RMB 777 billion or equivalent to USD 108 billion and net income reaching RMB 41.5 billion or equivalent to USD 5.8 billion.

 

12. Volvo Group 

Founded by Assar Gabrielsson and Gustav Larson in 1927, Volvo still became one of the world's largest vehicle corporations focusing on manufacturing and selling truck and heavy equipment products. As of 2024, The Volvo Group manages vehicle products under the brands of Volvo, Volvo Penta, Rokbak, Renault Trucks, Prevost, Nova Bus, and Mack brands. Along with business development, Volvo Group has employed 102,000 people.

 

Financially, in the year 2024, Volvo Group has total assets of around SEK 714 billion or equivalent to USD 71.4 billion with total liabilities of around SEK 517 billion or equivalent to USD 51.7 billion. In terms of business performance in 2024, Volvo Group successfully gained total revenue of around SEK 526 billion or equivalent to USD 52.6 billion and net income of around SEK 50.5 billion or equivalent to USD 5 billion.

 

13. KIA      

Kia was founded on June 9, 1944, with the name of “Kyungsung Precision Industry”, initially manufacturing steel tubing and bicycle parts. They produced Korea's first domestic bicycle in 1951. The company later renamed itself Kia Industries in 1952. As the business journey, unfortunately, Kia declared bankruptcy during the Asian monetary crisis in 1997 and formed an agreement with Hyundai Motor Company in 1998 to help the business of KIA. As of 2025, Hyundai holds a 33.88% ownership stake in Kia.

 

Based on business performance, in 2024, total vehicle deliveries of KIA reached 1,547,409 units globally. Specifically, some of the popular car brands of KIA are Sportage, Sorento, Carnival, Morning / Picanto, and Niro. Financially, in the year 2024 according to its annual report, Kia Motor Company has total assets of around KRW 92,775 billion or equivalent to USD 65.8 billion with total liabilities of around KRW 36,915 billion or equivalent to USD 26.2 billion. In terms of business performance, in 2024 Kia Motor successfully gained total revenue of around KRW 107,448 billion or equivalent to USD 76.2 billion and net income of around KRW 9,775 billion or equivalent to USD 6.9 billion.

 

14. Mitsubishi Motors    

Mitsubishi Motors is a Japanese multinational automobile manufacturer headquartered in Minato, Tokyo, Japan. Structurally, as of 2025, the majority shareholders of Mitsubishi Motor are Nissan Motor Corporation with share ownership of 24.53%. In terms of business conditions, as of 2023, globally, the volume sales of all models of Mitsubishi cars reached 815,000 units with production volume in 2023 achieved 1,011,000 units.

In terms of business performance based on the annual report in the year 2024, Mitsubishi Motor has total assets of around JPY 2,245 billion or equivalent to USD 15.2 billion with total liabilities of around JPY 1,272 billion or equivalent to USD 8.6 billion. Furthermore, in 2024, Mitsubishi Motor successfully gained total revenue of around JPY 2,788 billion or equivalent to USD 18.9 billion and net income of around JPY 50.6 billion or equivalent to USD 0.34 billion.

 

15. Ferrari NV     

Founded in 1939 by Enzo Ferrari, The Ferrari NV is popular with luxury car models under the brand name of "Ferrari". In the year 2024, Ferrari NV successfully shipped all car models 13,752 units. Related to business performance based on the annual report in the year 2024, Ferrari NV has total assets of around EUR 9.4 billion or equivalent to USD 10.4 billion with total liabilities of around EUR 5.9 billion or equivalent to USD 6.5 billion. Furthermore, in 2024 Ferrari NV successfully gained total revenue of around EUR 6.6 billion or equivalent to USD 7.3 billion and net income of around EUR 1.5 billion or equivalent to USD 1.6 billion.

 

16. Renault Group        

Founded on 25 February 1899 with the initiatives of Louis Renault and his brothers Marcel Renault and Fernand Renault, The Renault Corporation has become one of the world's largest car corporations from Europe. As of 2025, the Renault group manages some car brands including Renault, Alpine, Dacia, and Mobilize. Along with business development, Renault Group has some manufacturing sites located in Batilly plant (France), Cléon plant (France), Manufacture Alpine Dieppe Jean Rédélé (France), Manufacture de Douai (Ampere) (France), Usine du Mans (France), Manufacture de Maubeuge (France), Meyzieu plant (France), Manufacture de Ruitz (Ampere) (France), Sandouville plant (France), Palencia plant (Spain), Valladolid Carrocerias plant (Spain), Valladolid Montaje plant (Spain), Novo Mesto plant (Slovenie), and Mioveni plant (Türkiye). As of business development, in 2024, Renault Group successfully sold 2,265 thousand units of its cars worldwide.

Financially, according to its annual report in 2024, the Renault Group has total assets reaching EUR 129 billion or equivalent to USD 143 billion and total liabilities about EUR 98.2 billion or equivalent to USD 109 billion. Furthermore, based on the business performance in 2024, the Renault Group could generate revenue of EUR 56.2 billion or equivalent to USD 62.3 billion and net income reaching EUR 0.89 billion or equivalent to USD 0.98 billion.

 

17. Nissan  

Historically, the journey of Nissan Motor started in 1933 founded by Yoshisuke Aikawa. Furthermore, the company name was later changed to Nissan Motor Co., Ltd with an integrated production system installed at the Yokohama Plant, making Nissan the first Japanese manufacturer to mass produce automobiles. Along with business development, Nissan Motors employed 133,580 people in 2024. In terms of business performance, Nissan Motor successfully sold 3,442 thousand units of its cars globally.

Financially, according to the annual report of 2024, Nissan Motor recorded total revenues of JPY 12,685 billion or equivalent to USD 86.2 billion and a net profit of JPY 426 billion or equivalent to USD 2.89 billion. In terms of financial position, the total assets of Nissan Motor reached JPY 19,855 billion or equivalent to USD 135 billion with total liabilities around JPY 13,874 billion or equivalent to USD 94 billion.

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The Summary of 17 World’s Largest Car Corporations in 2024 Based on Total Assets

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The Summary of 17 World’s Largest Car Corporations in 2024 Based on Net Income

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 The Summary of 17 World’s Largest Corporations Based on Total Vehicle Sales in 2024

 

 

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Bibliography of Article “Top 17 World’s Largest Car Corporations in 2024

 

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Volkswagen AG. 2025. Annual Report 2024. Accessed via  https://www.volkswagen-group.com/en/financial-reports-18134  on 5 June 2025.

Honda Motor Co. 2025. Annual Report 2024. Accessed via https://global.honda/investors/  on 5 June 2025.

General Motors Co. 2025. Annual Report 2024. Accessed via https://investor.gm.com/   on 5 June 2025.

Daimler AG. 2025. Annual Report 2024. Accessed  https://group.mercedes-benz.com/investors/reports-news/annual-reports/2022/  on 5 June 2025.

BMW. 2025. Annual Report 2024. Accessed via https://www.bmwgroup.com/en/investor-relations/company-reports.html  on 5 June 2025.

Hyundai Motor Co. 2025. Annual Report 2024. Accessed via https://www.hyundai.com/worldwide/en/company/ir/financial-information/financial-statements  on 5 June 2025.

Tesla (TSLA). 2025. Annual Report 2024. Accessed via https://ir.tesla.com/sec-filings  on 5 June 2025.

Stellantis. 2025. Annual Report 2024. Accessed via https://www.stellantis.com/en/investors/reporting/financial-reports  on 5 June 2025.

Ford Motor Co. 2025. Annual Report 2024. Accessed via https://shareholder.ford.com/Investors/financials/default.aspx  on 5 June 2025.

Renault Group. 2025. Annual Report 2024. Accessed via https://www.renaultgroup.com/en/finance/ on 5 June 2025.

Nissan. 2025. Annual Report 2024. Accessed via https://www.nissan-global.com/EN/IR/FINANCIAL_RESULTS/ on 5 June 2025.

Tesla. 2025. Annual Report 2024. Accessed via https://ir.tesla.com/#quarterly-disclosure on 5 June 2025.

BYD. 2025. Annual Report 2024. Accessed via https://www.bydglobal.com/cn/en/BYD_ENInvestor/InvestorAnnals_mob.html on 5 June 2025.

Volvo Group. 2025. Annual Report 2024. Accessed via https://www.volvogroup.com/en/investors/reports-and-presentations/annual-reports.html on 5 June 2025.

KIA. 2025. Annual Report 2024. Accessed via https://worldwide.kia.com/int/company/ir/archive/annual-report on 5 June 2025.

Mitsubishi Motor. 2025. Annual Report 2024. Accessed via https://www.mitsubishicorp.com/jp/en/ir/library/ar/ on 5 June 2025.

Ferrari NV. 2025. Annual Report 2024. Accessed via https://www.ferrari.com/en-EN/corporate/financial-documents on 5 June 2025.

 

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