Global Car Sales by Manufacturer in 2024 Key Rankings and Market TrendsIn 2024, the global automotive industry experienced both resilience and transformation. Major manufacturers competed across traditional and electric vehicle (EV) segments, while regional markets continued to shift. Consumer demand, economic conditions, and evolving technology shaped the year’s sales performance. This topic presents an in-depth look at global car sales by manufacturer in 2024, highlighting the top companies and the key trends that defined the market.
Why Global Car Sales Matter
Tracking global car sales helps us understand how different manufacturers are performing across regions. It reflects consumer preferences, market share, and the impact of technological shifts like electrification and automation. These figures also give insight into which companies are adapting best to new challenges and opportunities.
Top Car Manufacturers by Global Sales in 2024
1. Toyota Motor Corporation
Toyota held on to its top spot, once again becoming the world’s best-selling car brand in 2024. With sales of over 10.3 million units globally, Toyota benefited from its broad portfolio of fuel-efficient, hybrid, and electric vehicles. The Corolla, RAV4, and Prius models remained popular in key markets like North America and Asia.
2. Volkswagen Group
Volkswagen Group came in second, with global sales reaching approximately 9.2 million vehicles. Strong demand in Europe and China, coupled with a growing EV lineup under the ID. badge, helped sustain momentum. Audi and Porsche contributed significantly to high-end segment sales.
3. Hyundai Motor Group
Hyundai, Kia, and Genesis together sold over 7.2 million vehicles worldwide. Hyundai Motor Group’s focus on design innovation and affordability made its cars popular in both developed and emerging markets. The Ioniq and EV6 series continued to grow in the electric segment.
4. General Motors
General Motors ranked fourth with around 6.7 million vehicles sold globally. North America remained GM’s stronghold, with the Chevrolet Silverado and GMC Sierra among the best-selling pickups. EV offerings like the Chevy Blazer EV and Silverado EV gained traction despite a competitive landscape.
5. Stellantis
Stellantis, home to brands such as Jeep, Ram, Peugeot, and Fiat, achieved sales of around 6.1 million units. The company performed well in both Europe and North America, and new hybrid and electric models helped meet environmental regulations while broadening its customer base.
Fast-Rising Chinese Car Manufacturers
Chinese automakers made noticeable gains in 2024. Brands like BYD, Changan, Geely, and SAIC expanded both domestically and internationally. BYD alone sold more than 3.5 million vehicles, a large portion of which were electric or plug-in hybrid.
These companies are no longer limited to the Chinese market. They’re exporting competitively priced and increasingly high-quality vehicles to Europe, Southeast Asia, Latin America, and parts of Africa. Improved safety standards and modern design have helped Chinese brands earn broader recognition.
Tesla and the Global EV Market
Tesla remained a key player in 2024’s car sales, especially in the EV sector. With around 2 million units sold worldwide, Tesla continued to lead the fully electric vehicle space. The Model Y and Model 3 remained bestsellers in several countries. However, competition from legacy automakers and new entrants has increased.
Tesla’s strategy of reducing prices to gain market share led to increased volume but tighter margins. Still, its brand power and Supercharger network supported continued global appeal.
Regional Sales Performance
North America
The U.S., Canada, and Mexico saw continued strength in pickup trucks and SUVs. Toyota, GM, Ford, and Stellantis led in volume. EV adoption rose, especially in urban areas and states with strong incentives.
Europe
Europe continued its shift toward electric vehicles, driven by emissions regulations and consumer awareness. Volkswagen, Stellantis, and Renault held large shares, while BYD and Tesla gained market share rapidly in countries like Germany, Norway, and France.
Asia-Pacific
Asia remained the largest market by volume. Toyota and Hyundai performed strongly in Japan, South Korea, and Southeast Asia. Chinese brands dominated in China, which remained the world’s largest car market. India saw rising demand for compact vehicles and affordable EVs.
Latin America and Africa
These regions saw steady growth, especially for budget-friendly and durable vehicles. Renault, Volkswagen, and Hyundai performed well. Chinese brands also increased their presence with cost-effective models that suit local needs.
The Impact of Electric Vehicles on Global Sales
2024 marked another big year for electric vehicles. Governments continued to push for cleaner transport, and consumers showed growing interest in EVs across many markets. Most top manufacturers now offer multiple electric models.
Nearly 18% of all global car sales in 2024 were electric or plug-in hybrid. This trend pushed manufacturers to increase production capacity and invest in battery technology and charging infrastructure.
Key Challenges for Automakers in 2024
Despite overall growth, manufacturers faced several challenges
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Supply Chain Pressures While conditions improved compared to previous years, issues like battery component shortages and shipping delays still affected production.
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Price Competition Intense competition in the EV space led to price wars, squeezing profit margins for many brands.
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Regulatory Compliance Emission standards, safety requirements, and tax changes in various countries forced companies to adapt quickly.
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Consumer Shifts Rising interest rates and inflation influenced purchasing decisions, with many buyers leaning toward smaller, more affordable models.
Trends to Watch in the Coming Years
As we move into 2025 and beyond, several trends will shape the global auto industry
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EV Acceleration Automakers will continue to expand EV offerings and reduce internal combustion engine (ICE) production.
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Digital and Connected Cars Integration of advanced infotainment systems and vehicle software updates will become a key selling point.
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Global Expansion of Chinese Brands More Chinese companies are expected to enter new markets with attractive price-performance vehicles.
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Focus on Sustainability Carbon-neutral production, recycling, and ethical sourcing of materials will gain importance for both companies and consumers.
Global car sales in 2024 reflected a fast-evolving industry balancing tradition and innovation. While longtime leaders like Toyota and Volkswagen maintained strong positions, newer challengers and electric vehicle pioneers reshaped the landscape. The growing influence of Chinese brands and the continued rise of EVs signal a future where flexibility, innovation, and sustainability will determine success in the global auto market.