Everyone either has a car or wishes to own one. The car manufacturing industry is composed of lots of different companies. These companies are involved in creating, designing, manufacturing, marketing, and selling automobiles. Over the years, this industry has seen significant growth and popularity increase, and normal individuals now know it. The main products of the automobile company include; passenger cars and light trucks such as SUVs, vans, and pickups.
Commercial cars are also important to the automobile industry but are subordinate. Like any other sector, the car manufacturing industry has its giants. Several of these companies stand tall in high-quality manufacturing automobiles and receive huge revenues from the sales of the automobile products. This industry is very competitive, with each automobile company producing new models yearly featuring innovative technology. Below is an exclusive review of the 10 richest car companies in the world in 2022.
10. Audi ($17.22 Billion)
Audi is the first German giant on the list, one of the world’s most popular luxury car companies. The company produces some of the most luxurious cars available today. In contrast to what most car enthusiasts think, Audi prices are not crazily high. Depending on your location, you can get a new Audi sedan for slightly over $30,000. It is no surprise that it will rank as the tenth richest car company in the world in 2022. Its brand value has increased from $16.95 billion in the previous year to $17.22 billion in 2022.
Audi Auto Group is a subsidiary company of the Volkswagen Group. The company has seven factories worldwide and only shares a few with the other companies in the Volkswagen Group. Audi creates, designs, designs, and manufactures luxury cars in 19 locations across twelve countries and sells them in more than 100 nations worldwide. And although you can get some of their models at a relatively fair price, the German company also goes far on the other side of maximum prices, selling luxury models such as the Audi R8 Spyder for over $180,000. Generally, Audi has been growing gradually but surely over the years.
9. Volvo ($17.75 Billion)
Volvo is the ninth richest car company in the world in 2022. According to Volvo.com, it is a Swedish automobile company with factories all over five continents. The company value significantly increased from $16.90 billion in the previous years to $17.75 billion. Volvo was first established in 1915 as a subsidiary of SKF, a manufacturer of ball bearings. Ford Motors previously owned the brand. It is run by Geely Holding Group, a Chinese multinational auto manufacturer. It has factories in eighteen countries but manufactures most of its automobiles in Germany, in Neckarsulm and Ingolstadt. Other manufacturing facilities of the company are found in Belgium, Hungary, and Mexico. Volvo’s most notable car models are Volvo V70, Volvo 360, Volvo Sport P1908, Volvo S80, Volvo xC70, Volvo V90, and GLT Turbo.
8. Ford ($22.68 Billion)
Over in the U.S., Ford Motors is the eighth richest car company in the world in 2022. This American car manufacturer has a brand value of $22.67 billion in 2022, an increase from $18.51 billion in the previous year. According to their website, Ford has a great reputation for manufacturing durable, strong, aesthetically pleasing, and strong engine high-ranking automobiles. Due to these features, the company has been a mainstay in the automobile industry, which has earned it a sales revenue of 139 billion and a brand value of 22.68 billion. This ranks it as one of the richest automobile companies in America and worldwide.
Ford was established in 1903 by Henry Ford, making it one of the oldest car companies, and it is still going strong. The company is popular for manufacturing some of the best buses, trucks, and tractors. It has gained global popularity from its headquarters in Bearbon, Michigan, and it is the second biggest automaker in the U.S. and the fifth-largest in the world. The company sells commercial and automobile cars under the Ford Brand, while luxury vehicles are sold under the Lincoln Luxury brand. Some popular Ford brands include; Lincoln, Focus, Taurus, Mustang, and Fiesta. Currently, Ford runs 90 factories and other facilities across the world. You can never get more classic than Ford.
7. Honda ($31.36 Billion)
Honda is a popular Japanese auto manufacturer that makes power equipment and motorcycles. According to WealthyPipo.com, the company has gained an excellent reputation in the industry for its durability and delivery of great car products worldwide. This year, Honda is the seventh richest car brand in the world, with a brand value of $31.36 billion. According to Forbes, the company’s value decreased slightly from $33.10 billion last year.
Honda was the first Japanese company to develop its luxury brand in 1986. This luxury brand was Acura. The auto models of this company include around seven luxury auto models, SUVs, and others. Also, Honda is not just a motorcycle and car company. The company also has various businesses worldwide. It is spread across several countries worldwide with subsidiary offices and factories. Car shoppers go for Honda vehicles and machines for durability, engine quality, and fuel efficiency. Honda has a market capitalization of $45 billion, making it one of the biggest auto companies worldwide.
6. Porsche ($34.32 Billion)
When you hear the word Porsche, what comes to mind is the comfortable and luxurious type of car that you can’t afford. The company only makes it in the top ten, as few people can afford its cars. In 2022, the company got to sixth place in the rank. It is worth $34.32 billion in 2022, an increase from $33.91 billion in 2021. According to Porsche.com, the company has produced great automobiles over the years, including Porsche 911, Porsche 996, Porsche 914, Porsche Carrera GT, Porsche 718 Spyder, Porsche 356, and others.
Porsche is a Germany-based company owned by Volkswagen. Ferdinand Porsche founded the company in 1931, but the two companies have always been close. Volkswagen and Porsche collaborated in 1969 to make the Volkswagen-Porsche 916 and 914-6, which saw massive success. Today, the company runs six factories in several parts of the world. Also, Porsche has seven thousand patents globally, and 400 new patents are filed annually. So, although not everyone can afford to drive a Porsche, the company is still performing pretty well.
5. Tesla ($36.97 Billion)
Tesla is popular worldwide for manufacturing electric cars at affordable prices. It released its first car, the Roadster, in 2009. This car and energy company is based in California, USA, and has grown to be the biggest manufacturer of electric vehicles globally. Tesla’s value increased by around 15% compared to previous years, placing it as the fifth richest car company in the world in 2022, with an overall brand value of $36.97 billion. The company has around 598 retailers across the world.
Tesla has seen increased car sales in the last few years. For example, in 2017, the company recorded around 50,068 car sales and around 293,000 car sales in 2020. In 2022, the company is recording double the sales and hitting $53.8 billion in annual revenue. With its trend of producing speedy, aesthetically pleasing, and cost-effective vehicles that offer a sleek driving experience, Tesla will continue rising in the rank of the most valuable car company. Tesla joined 27 companies to form ZETA (Zero Emission Transport Association). The organization aims to turn all internal combustion engine cars into electric. Elon Musk, a well-known CEO, is the main Tesla shareholder who owns 22% of Tesla.
4. BMW ($40.50 Billion)
Bayerische Motoren Werke (BMW) is another German automobile manufacturer and ranks four as the richest car company. The company has successfully maintained its market ranking from last year. It’s among the world’s major auto manufacturers, manufacturing quality motorbikes and luxury cars for its clients. In 2022, the company is worth a ridiculous $40.50 billion. But despite maintaining its position, its value has reduced by $0.04 billion compared to the previous years.
BMW was established in 1916 and has gained a great reputation over the years, serving worldwide markets from its headquarters in Munich, Germany. It released its first car in 1928, the BMW 3/15, and has since produced some notable automobile models. These include the BMW 507, 1998 BMW m coupe, BMW 3200 CS, 1999 BMW 28, BMW 507, 201 BMW coupe, BMW M8 Gran coupe, 2018 BMW, BMW x, and BMW 4 series. Today, it’s the leading motorcycle and automobile manufacturer. The BMW Group has about 31 manufacturing and assembly plants in fifteen countries and a worldwide sales network in more than 140 countries.
3. Volkswagen ($47.02 Billion)
Volkswagen is a German car manufacturer started in 1937. The company is popular for its legendary auto models, such as the Bentley, Volkswagen Beetle, Golf GTI, Audi Rs6, Lamborghini Huracan, and others. Volkswagen is also involved in producing, designing, and distributing motorcycles and turbo machinery and provides leasing, fleet management, and financing services. According to Forbes, this company has outperformed many of its competitors as most of them still struggle to recover from the global pandemic wreaked by corona.
Volkswagen takes third place in the list of the richest car companies in the world in 2022. The company has a brand value of $47.02 billion, up by $2 billion since last year. Today, the company operates around 136 factories in several parts of the world. Volkswagen designs, manufactures, and sells automobiles in more than 150 countries. Volkswagen saw a production output of around eight million cars last year, sitting only behind Toyota, which made 10.5 million car sales.
2. Mercedes Benz ($58.2 Billion)
Mercedes Benz is a popular luxury car manufacturer based in Germany. It manufactures high-quality cars that offer ultimate comfort. For this reason, Mercedes closes in on millions of sales annually despite its costly and luxurious nature. The company ranks as the second richest car manufacturer in 2022, with a brand value of $58.2 billion. Mercedes experienced a drop of around seven billion dollars in valuation since last year, when it was valued at around $65 billion. Although it’s based in Germany, the company has over 90 factories across the world. Mercedes is also in the lead of most technological advancements that the company has developed over the many decades of manufacturing cars.
1. Toyota ($59.47 Billion)
Toyota is the world’s richest and biggest car company in 2022. It has overtaken Mercedes-Benz to take the first position. The company is the leading car manufacturing company in the world, with its products being available worldwide. This is shown by the fact that the company sold the most cars worldwide. In 2021, Toyota sold around 10.5 million cars. It averages a yearly sale of eight million cars which contributes to its massive revenues. No automobile company has sold more cars than Toyota, making it the biggest car seller. The company commands a global presence, operating from its headquarters in Toyota City, Japan. It has a brand value of 59.47 billion dollars in 2022, compared to $58 billion in 2021.
Toyota Motor Corporation was founded in 1937 by Kirchiro Toyota. According to MirrorReview, Toyota is a traditional automotive brand that has integrated the current innovative technologies to keep up with the times and ensure continued customer satisfaction. Today, Toyota engines are equipped with either fuel-efficient combustion or hybrid engines lately used in electric cars. It manufactures and sells a wide range of automobiles, from luxury and sport utility vehicles to minivans, buses, and trucks.
That’s it. These are the 10 richest car companies in the world in 2022. These car companies earn billions of dollars, and the more popular they are, the more they sell massive numbers of cars daily. And as you would have guessed, the richest car companies in the world are some of the most popular car brands worldwide.
Ultimately, the competition to be the best car company is never-ending, with companies releasing new cars annually, hoping to gain a bigger market share. Therefore, the conflict will continue next year as it has been doing all the previous years. Which is your favorite car company on this list? Feel free to comment below.