Who is the largest car manufacturer?

Toyota Motor Corporation is the world’s largest car manufacturer by global vehicle sales, based on the most recent full-year data widely reported (2023). Toyota has held the top spot since 2020, outpacing Volkswagen Group and Hyundai Motor Group. While “largest” can also refer to revenue, market value, or production, by unit sales—the industry’s most common yardstick—Toyota remains number one.

What “largest” means in the auto industry

The term “largest” can be measured in several ways, and the answer can change depending on the metric used. Unit sales (vehicles sold worldwide in a calendar year) is the most common benchmark, but analysts also look at production volumes, revenue, market capitalization, and leadership within fast-growing segments such as electric vehicles.

Below are the main ways analysts and media typically define “largest” in autos, with a brief explanation of each.

• Global vehicle sales: Total vehicles sold worldwide in a given year by an automaker group; the most widely cited measure.
• Production: Vehicles manufactured globally; can differ from sales due to inventory and logistics timing.
• Revenue: Total sales revenue; currency effects and business mix (financing, parts, services) can shift rankings.
• Market value: Stock-market capitalization; reflects investor expectations more than current output.
• Electrified leadership: Dominance in battery-electric (BEV) or plug-in (BEV+PHEV) volumes, a strategic growth area.

Taken together, these metrics provide a fuller picture of scale and market influence, but unit sales remain the standard for “largest automaker” rankings.

The latest global sales ranking

The list below reflects automaker groups ranked by worldwide vehicle sales in the latest complete year broadly reported (2023). Figures are rounded and can vary slightly by source and methodology (for example, whether heavy trucks are included).

1. Toyota Motor Corporation (Toyota, Lexus, Daihatsu, Hino): about 11.2 million vehicles
2. Volkswagen Group (VW, Audi, Skoda, SEAT/Cupra, Porsche, etc.): about 9.2 million
3. Hyundai Motor Group (Hyundai, Kia, Genesis): about 7.3 million
4. General Motors (Chevrolet, GMC, Cadillac, Buick, Wuling/SGMW JV contributions vary by source): about 6 million+
5. Stellantis (Jeep, Ram, Peugeot, Citroën, Opel/Vauxhall, Fiat, Alfa Romeo, etc.): about 6 million

Toyota’s lead over Volkswagen is sizable, and Hyundai Motor Group has solidified third place. If counted as a single entity, the Renault–Nissan–Mitsubishi Alliance would slot around fourth with roughly the mid–6 million range, which can shuffle positions with GM and Stellantis depending on counting conventions.

Why Toyota leads

Toyota’s scale rests on broad geographic diversity, strong demand for hybrid models, efficient supply-chain management, and a portfolio spanning mass-market and premium segments. Its multi-brand structure (Toyota and Lexus, plus regional brands Daihatsu and Hino) enables coverage from entry-level compacts to luxury SUVs and commercial vehicles.

By other yardsticks

Market value

Tesla has been the most valuable automaker by market capitalization in recent years, reflecting investor expectations for software, autonomy, and EV growth. Market value is volatile and does not directly correlate with current production or sales volumes.

Revenue

By revenue, Volkswagen Group and Toyota often vie for the top spot, depending on exchange rates and accounting periods. Volkswagen’s broad brand mix and strong European footprint have historically produced very high consolidated revenue.

Electric-vehicle leadership

In 2023, Tesla led global battery-electric (BEV-only) sales, while China’s BYD led plug-in electrified sales when combining BEVs and plug-in hybrids (PHEVs). These fast-growing segments are reshaping competitive dynamics, but they do not yet define “largest” in the traditional, all-vehicles sense.

How the rankings are compiled

Global rankings usually aggregate sales across an automaker’s brands and regions. Differences can arise based on whether alliances are combined, how joint ventures (especially in China) are counted, and whether heavy commercial vehicles are included. Most manufacturers release official global tallies for the prior year in January–February, and industry groups and analysts then standardize comparisons.

Outlook

Chinese automakers such as BYD, Geely (including Volvo and Polestar), and SAIC are expanding overseas and gaining share, particularly in electrified segments. Even so, Toyota’s scale, brand strength, and hybrid lineup position it to remain highly competitive at the top of the global sales ranking in the near term, while Volkswagen Group and Hyundai Motor Group continue to contest the upper tier.

Summary

By the most common benchmark—global vehicle sales—Toyota Motor Corporation is the world’s largest car manufacturer, leading the industry in the latest fully reported year (2023). Rankings can look different if measured by revenue, market value, or EV volumes, but by unit sales Toyota remains on top, followed by Volkswagen Group and Hyundai Motor Group.

Who are the big 3 automakers?

The “Big 3” automakers refers to Ford, General Motors (GM), and the company historically known as Chrysler, which is now part of Stellantis. These companies were the largest U.S.-based automobile manufacturers for decades and are headquartered in Detroit, Michigan, earning them the nickname “Detroit Three”. While their dominance has waned, they remain significant players in the automotive industry.
 
The History of the “Big 3”

• Origin: The term originated in the U.S. automotive industry to describe the massive, multi-brand companies that formed before World War II. 
• Rise to Dominance: Ford, GM, and Chrysler were the dominant forces in the American auto market for decades, employing thousands of workers and creating widely recognized vehicles. 
• Challenges and Restructuring: The companies faced financial struggles, including the 2008 crisis, which led to government bailouts and bankruptcies. Chrysler eventually became part of the conglomerate Stellantis. 

The “Big 3” Today

• Ford, GM, and Stellantis: Opens in new tabThese are the companies referred to as the “Big 3” in the context of the U.S. auto industry. 
• Stellantis: Opens in new tabThis multinational conglomerate owns the former Chrysler brands (Dodge, Ram, Jeep, and Chrysler) and many other international brands, such as Fiat, Peugeot, and Opel. 
• Global Market: Opens in new tabWhile Ford, GM, and Stellantis remain prominent, their dominance on a global scale has diminished as new manufacturers have emerged. 

Who is the world’s largest car manufacturer?

The largest car company in the world depends on the metric used, but in terms of units sold, Toyota is the top automaker globally, while Volkswagen Group has often held the top spot by revenue or number of brands. For 2025 YTD data, Toyota is leading in car sales volume, with Volkswagen Group in second place. 
By Number of Vehicles Sold

• Toyota: is consistently the world’s top automaker by the number of vehicles sold. 
• In 2023, Toyota sold over 8.57 million units, and they have continued this trend, with Toyota Group holding the leading share of global sales year-to-date in 2025. 

By Revenue 

• Volkswagen Group: has often been considered the largest company by revenue, with figures over €324 billion reported for 2024, though rankings can vary depending on the reporting period.

Key Players in Recent Years

• Toyota: has maintained its leadership position in global car sales, selling over 11 million vehicles in 2023. 
• Volkswagen Group, with brands like Audi, Porsche, and its namesake Volkswagen, is a major player and a frequent competitor for the top spot. 
• Other major automakers include Hyundai-Kia, Stellantis, General Motors, and Ford. 

Who is bigger, Toyota or Volkswagen?

Is Volkswagen a bigger manufacturer than Toyota? In 2021, Toyota established itself as the world’s number 1 seller, with a total of 10.5 million vehicles sold around the world. Volkswagen comes in at second place, not far behind with 8,82 million vehicles sold.

Is Tesla bigger than Toyota?

Yes, Tesla’s market capitalization is significantly larger than Toyota’s, making Tesla a “bigger” company by stock market value, despite Toyota having higher revenue and sales volumes. Toyota is also the world’s largest traditional automaker by production, whereas Tesla is a high-growth company focused on electric and autonomous vehicles, a difference reflected in their contrasting valuations. 
Market Capitalization 

• Tesla: Opens in new tabTesla’s market capitalization has surpassed $1 trillion, making it worth more than Toyota.
• Toyota: Opens in new tabToyota’s market capitalization is considerably lower, but still very substantial.

Revenue and Production

• Toyota: Opens in new tabToyota has much higher annual revenue and sells a greater number of vehicles than Tesla, as it is a mature, high-volume manufacturer. 
• Tesla: Opens in new tabTesla’s revenue is smaller but growing at a rapid pace, and its production is focused on the electric vehicle market and future autonomous technology. 

Why the Discrepancy?

• Growth Potential: Tesla’s higher valuation is driven by market expectations of its significant future growth in the electric and self-driving vehicle spaces. 
• Business Model: Toyota is a traditional, mature automaker with relatively stable growth, while Tesla is a high-growth technology company. 
• Market Narrative: Tesla’s “story stock” status, driven by its disruptive technology and futuristic vision, contributes to a valuation that is out of step with its current tangible numbers compared to Toyota’s, according to LinkedIn.