In 2024, competition in the global automotive industry intensified, driven by the growing dominance of new energy vehicles (NEVs). As sales surged for many NEV manufacturers, traditional automakers accelerated their shift toward electrification. This article unveils the Top 10 Global Automotive Brands by Sales in 2024 and explores the key trends shaping the industry.
TOP 10: Zhejiang Geely Holding Group (ZGH)
2024 Sales: 3.3 million units
For the first time, China’s Zhejiang Geely Holding (ZGH) has entered the global top 10 in sales. Owning brands such as Geely, Volvo, ZEEKR, Lynk & Co, Polestar, and Lotus, the company has expanded its international presence through a multi-brand strategy and technological integration. The rapid rise of ZEEKR has been a key driver of Geely’s success. Models like the ZEEKR 001, ZEEKR X, Geely Coolray, Geely Emgrand, and Geely Monjaro are gaining traction in GCC markets, thanks to their feature-rich designs and competitive pricing.
TOP 9: Nissan Group
2024 Sales: 3.35 million units
Nissan’s sales continue to decline, largely due to an aging product lineup and intense market competition. While the Leaf once gave Nissan an early edge in the EV market, it has struggled to keep pace with rapid industry advancements. Failed partnership talks with Honda and Mitsubishi have left Nissan seeking new collaborators to drive product innovation and market expansion. However, a short-term sales rebound remains challenging.
TOP 8: Honda Group
2024 Sales: 3.81 million units
Like Nissan, Honda—once a global leader—has fallen behind in the transition to new energy vehicles. In North America, sales have been impacted by supply chain disruptions and economic conditions. While Honda remains stable, its growth has slowed. In China, the company has seen a noticeable decline in market share but continues to dominate in Southeast Asia, particularly in motorcycles and compact cars.
TOP 7: Ford Motor Company
2024 Sales: 3.9 million units
Ford remains strong in North America, especially in the pickup and SUV segments, while investing heavily in the EV market. However, growing competition from Tesla and emerging Chinese EV brands has taken a toll. In 2024, Ford reported a $5.1 billion loss in its EV and software divisions. The company is now focusing on improving the profitability of its Model e EV division to counter these challenges.
TOP 6: General Motors (GM)
2024 Sales: 4.1 million units
As a key player in the American auto industry, GM continues to perform well in North America, with Chevrolet and GMC leading in the pickup and SUV segments. However, the shift toward NEVs and increased global competition present significant hurdles. In China, SAIC-GM joint ventures (Buick, Chevrolet, Cadillac) have experienced a sharp drop in market share. GM is at a pivotal stage of its transformation, focusing on electrification and autonomous driving. New models like the Chevrolet Silverado EV, Cadillac Lyriq, and GMC Hummer EV are facing stiff competition from Tesla and BYD.
TOP 5: BYD Group
2024 Sales: 4.27 million units
Surpassing Nissan, Honda, Ford, and GM, BYD has climbed to the fifth spot in global sales. It has not only reinforced its dominance in China but also accelerated expansion in Europe and Southeast Asia, securing its place as the world’s top-selling NEV brand. Models like the BYD Song Plus, Seal, and ATTO 3 are gaining popularity in GCC markets, offering advanced NEV technology and showcasing the advantages of electric mobility.
TOP 4: Stellantis Group
2024 Sales: 6.5–6.8 million units
The Stellantis Group—home to brands like Peugeot, Citroën, Jeep, and Fiat—has maintained a stable global market share through strategic consolidations and market adjustments. Holding onto fourth place in 2024, Stellantis continues to demonstrate strong cost control and high profit margins. Although it has minimal presence in China, it performs exceptionally well in Europe, particularly in France, Italy, and Germany. Brands like Peugeot, Citroën, and Opel remain key players in the compact car and EV segments.
TOP 3: Hyundai-Kia Group
2024 Sales: 7.23 million units
Hyundai-Kia remains a strong contender globally, with impressive sales of electric models such as the Hyundai IONIQ 5, IONIQ 6, Kia EV6, and EV9. While the Chinese market presents challenges, solid performances in North America, Europe, and emerging markets have driven growth. In the Middle East, Hyundai and Kia lead in the compact car and budget SUV segments with models like the Creta. Moving forward, the group is focused on expanding its EV market share.
TOP 2: Volkswagen Group
2024 Sales: 9.03 million units
Volkswagen continues its global push toward electrification and digital transformation. However, its ID series of electric vehicles failed to meet market expectations, and profitability in China has declined significantly. Insiders suggest the company may need to implement substantial layoffs. In response, Volkswagen is partnering with Xpeng Motors and Horizon Robotics to develop smart EV technologies. Increasing EV sales and resolving software development challenges will be critical to Volkswagen’s future success.
TOP 1: Toyota Group
2024 Sales: 10.8 million units
Once again, Toyota Group retains its title as the world’s top-selling automaker, thanks to its diverse product lineup and extensive global sales network. While Toyota continues to dominate the internal combustion engine (ICE) market, its leadership in hybrid technology gives it a competitive edge in both ICE and hybrid segments. Although Toyota has been slower to adopt pure EVs, its strengths in other areas ensure it remains #1 in global sales.
Conclusion
The 2024 rankings highlight the significant transformations reshaping the global automotive industry. The rise of NEVs has disrupted traditional market dynamics, with Chinese brands like BYD achieving remarkable success through technological innovation and international expansion. Meanwhile, legacy automakers are rapidly pivoting, increasing investments in electrification and digitalization to stay competitive.
With competition heating up, the big question remains: How will automakers position themselves in 2025, and will we see another market shake-up? Stay tuned to find out.
Adrian is an Editor. Psychology graduate with over 4 years in the automotive industry, 3 in front of the camera. Occasionally seen at his family owned tyre shop. He will only buy cars that pass the big bottle test.
