Largest car manufacturers in the world!

In 2023, $TM (Toyota Motor Corporation-ADR) was the top automaker worldwide and the only manufacturer to sell over 10 million vehicles.

𝐅𝐔𝐍 𝐅𝐀𝐂𝐓: According to the automotive industry research firm Hedges&Company, there are around 1.5 billion vehicles in the world, which is almost equal to the combined populations of China and Germany!

𝐇𝐨𝐰 𝐦𝐚𝐧𝐲 𝐜𝐚𝐫 𝐰𝐞𝐫𝐞 𝐬𝐨𝐥𝐝 𝐢𝐧 𝟐𝟎𝟐𝟑?💲 Worldwide car sales grew to approximately 75.3 million automobiles in 2023, up from around 67.3 million units in 2022. The sector experienced a downward trend throughout 2020 and 2021 due to a slowing global economy, compounded by COVID-19 and the Russian war on Ukraine. Despite these challenges, 2023 sales surpassed pre-pandemic levels and are forecast to continue rising through 2024.

𝐓𝐫𝐞𝐧𝐝𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐚𝐮𝐭𝐨𝐦𝐨𝐛𝐢𝐥𝐞 𝐢𝐧𝐝𝐮𝐬𝐭𝐫𝐲📈 In the past decade automobile trends have shifted towards electrification. In 2023 nearly one in five cars sold was electric, and 14 million new electric cars were sold (including hybrids) which is 35% increase from 2022. China is a leader in buying electric cars accounting for 60% of global sales followed by Europe (25%) and U.S.A (10%), which combined totals around 95%. So the electric car market is still pretty saturated in just three areas. Fully electric car leaders are $TSLA (Tesla Motors, Inc.) with 19.9% market share in 2023 and $01211.HK (BYD Co Ltd) which had 17.1% market share in 2023. Leading hybrid vehicle manufacturer is still Toyota.

𝐖𝐡𝐚𝐭 𝐢𝐬 𝐲𝐨𝐮𝐫 𝐟𝐚𝐯𝐨𝐫𝐢𝐭𝐞 𝐜𝐚𝐫 𝐬𝐭𝐨𝐜𝐤?

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