“Western” ranking of carmakers (passenger cars + light utility vehicles): Toyota first in 2024, VW second (1/2)
- With global automobile production volume (passenger cars + light utility vehicles) expected to fall by almost 2% in 2024, according to Inovev's calculations, the Toyota group (Toyota, Lexus, Daihatsu, Hino) remains the world's leading carmaker ahead of the VW and Hyundai-Kia groups.
- This so-called "Western-view" classification includes the production of Chinese carmakers that produce foreign cars under license, via joint ventures. This is how Volkswagen brand cars produced by the Chinese SAIC, for example, are integrated into the Volkswagen group and not into the SAIC group. Inovev offers on the next analysis, the "Chinese-view" classification which includes the production of foreign cars produced by Chinese carmakers at Chinese carmakers.
- In the so-called "Western-view" ranking, the leading Chinese carmaker BYD is in sixth place, behind Toyota, Volkswagen, Hyundai-Kia, GM and Stellantis. BYD is the carmaker that has increased the most in 2024 compared to 2023, among the top 20 global carmakers. While the production of non-Chinese carmakers is in decline in 2024 for most of those in the Top 20, it is increasing for most of the Chinese carmakers present in this Top 20, such as BYD, but also Geely, Chery and Changan. Geely (owner of Volvo, Polestar, Lotus among others) takes 11th place in 2024, Chery takes 12th place. Changan takes 16th plance, behind the BMW, Mercedes and Renault groups. The American electric car carmaker Tesla is in 17th position, slightly down from 2023.
- Over the next two years, we can expect a consolidation of Chinese carmakers who have been strengthening their positions in China and in exports for several years.