Global Vehicle Sales Top 92 Million Units in 2023; December Volume Up 11% (2024)

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Global Vehicle Sales Top 92 Million Units in 2023; December Volume Up 11%? ›

Based on the countries surveyed by Wards Intelligence, global sales of total vehicles – light vehicles and medium- and heavy-duty trucks – in 2023 topped 92 million units. The year ended with sales in December of 8.446 million units, 11.1% above same-month 2022 and the 11^th straight year-over-year increase.

Ranking of motor vehicle manufacturers worldwide by global sales 2023. At around 11.2 million units, the Toyota Motor Corporation remained above its largest rival, the Volkswagen Group, as the world's largest manufacturer of motor vehicles. Both manufacturers sell motor vehicles under various brands.

Auto manufacturers' vehicle sales worldwide 2022-2023

Between January and June 2023, Toyota was the leading automaker in terms of global vehicle sales with around 5.42 million units sold. This figure represents a year-over-year rise of around 5.5 percent.

Total global car sales, 2021 to 2030

Looking into the future, global vehicle sales will grow at a Compound Annual Growth Rate (CAGR) of 2.7% between 2023 and 2030 - totaling 88.3 million annual vehicle shipments by the decade's end. The year 2024 is expected to see about 76.1 million passenger car sales worldwide.

Total Worldwide Passenger Cars Sales. According to the OICA, the total passenger car sales globally in 2022 was 57.5 million units, a decrease of 1.9% from 2021. China is the largest car market in the world, accounting for over 23.6 million units sold in 2022.

Globally, Toyota is still the largest carmaker by sales volume, followed by Volkswagen Group and Hyundai. GM ranks fourth. By market cap, though, none of them compares to Tesla, which is worth $350 billion even after a 70 percent drop in stock price last year.

China is the largest automobile market worldwide, both in terms of demand and supply.

1. Ford F-Series. The Ford F-150's offers the best attributes of a modern pickup: power, efficiency, comfort and capability. Add to that a huge range of configurations and options, and you've got the best-selling vehicle in America for 2023.

China was recently confirmed as the world's biggest auto exporter. The growing global presence of its industry is one of the storylines captured in the Forum's new series of trade-based Transformation Maps.

Which car manufacturer has the highest global sales market share? ›

For the fourth year in a row, Toyota is the best-selling automaker in the world. We've been waiting for Toyota to release sales data for 2023 ever since the Volkswagen Group announced it sold 9.24 million cars.

Key Takeaways. Global light vehicle sales will increase by 2% to 3% over 2024 and 2025 (to over 90 million), mainly supported by growth in Southeast Asia and India. U.S. and Europe may lag global growth, while China's long-term potential remains.

World Best Selling Car Ranking in 2024 reports the Toyota Corolla regaining the throne after losing to the Tesla Model Y in 2023. Honda CR-V reports best performance in top 10 rising 29.0%. Tesla Model Y loses momentum in first months of 2024, falling 29.6% in volume.

However, the status quo was restored in 2022 when the General Motors Company (NYSE:GM) regained its top spot, with its brands selling 2.27 million vehicles in the American market, against Toyota Motor Corporation (NYSE:TM)'s 2.1 million units.

Motor Vehicle Sales - Passenger car sales - Ranking. China is the top country by car sales in the world. As of 2023, car sales in China was 26.1 million units that accounts for 41.48% of the world's car sales.

What company sells the most cars? The company that sold the most cars globally is Toyota. The Toyota group including, Toyota, Lexus, Daihatsu, and Hino, sold a combined 10 million vehicles in 2022. Toyota alone is the most sold brand globally selling over 8.5 million vehicles.

BASF SE, Denso Corp, Mitsubishi Electric Corp, Hyundai Mobis Co Ltd, and Magna International Inc are the top 5 automotive suppliers in the world in 2023 by market capitalization (as of Mar 31, 2023).

General Motors retained its crown as the top-selling automaker in the US in 2023, edging past rival Toyota Motor, as easing supply snags and sustained demand drive the industry to its best year since the pandemic.