Automobiles have always taken us by surprise. This is because of the fact that the industry is growing every single day and the growth of the industry matters a lot to the global economy. The automotive industry has been active since the 1980s, and it is one industry that has been showing concept development, in direct correlation with the growth of technology. A lot of new companies are popping up every single day and are very much promising. Even then we have a list of the top 5 companies that never step down the ladder. So here is a list if the top 5 biggest companies in the global automotive industry.
Toyota Motor Corp:
Surprisingly it is the Toyota Motor Corp that takes the first place when it comes to the biggest companies in the automobile industry. Unbelievably with more than $160 billion every year, they are selling out automobiles tremendously. It is a Japanese company and lives with the fame as the largest company in the automotive industry for quite a large number of years. On the global forum, Toyota performs better than the other companies and have earned better trust.
Unless you are someone who is really into the automobile industry, it is quite hard for you to get in terms with the name Daimler. There are good chances that you are hearing it for the first time. Daimler is the brand that owns the Mercedes-Benz, the car that the whole world drools over. With an annual market cap of $79 billion, it is the second biggest car company in the world selling over 3 million vehicles every year, and this stat is as per the 2017 reports.
Volkswagen is a German Automobile maker, and one need not have to tell you how the German companies excel. However, it is an inevitable fact that the company faced a large dip in the year 2015. It looks like the company had probably skipped some emission tests and they are finding it quite harder to score after that. However, with a market cap of $76.7 Billion, they have still managed to bag a place on the top 5 list.
Again you have a German automaker take the 4th place as the biggest automotive company in the world. One need not have to tell you about the reputation that the company and the brand have earned over the years. BMW has become more than just a brand now. It has become a symbol of pride for the people who own it. It has a market cap of more than $62 Billion as of now.
This position of managing to become one of the top 5 biggest companies in the industry is quite likely to change in the near future. With the launch of its new models, they are either going to sky-rocket in the year 2018 or going to step down the ladder. This is because of the fact that they have managed to produce only about 85000 cars and that is not probably enough to compete in the global market. However now the company has shown a profit of $57.6 Billion