In 2024, Japanese, German, and American automakers continued to lead the industry, while Chinese and Korean brands made significant strides.
This ranking reflects the most successful car manufacturers based on total vehicle sales worldwide.
The Global Automotive Leaders
The following table outlines the top 10 best-selling automakers in 2024, based on total units sold according to Global Statistics
| Rank | Automaker | Country | Total Sales (Millions) |
|---|---|---|---|
|
1️⃣ |
Toyota |
Japan |
10.8M |
|
2️⃣ |
Volkswagen Group |
Germany |
9.03M |
|
3️⃣ |
Hyundai-Kia |
South Korea |
7.23M |
|
4️⃣ |
Renault-Nissan Alliance |
France |
6.24M |
|
5️⃣ |
General Motors (GM) |
USA |
5.96M |
|
6️⃣ |
Stellantis |
Netherlands |
5.32M |
|
7️⃣ |
Honda |
Japan |
4.1M |
|
8️⃣ |
Ford Group |
USA |
3.87M |
|
9️⃣ |
BYD |
China |
3.82M |
|
🔟 |
Suzuki |
Japan |
3.09M |
Electric revolution – The rise of BYD
One of the most significant shifts in 2024 was China’s BYD entering the top 10 list, selling 3.82 million vehicles. BYD, known for its electric vehicles (EVs), has rapidly expanded its footprint worldwide, challenging traditional automakers in the EV sector.
Automotive industry in Africa – A growing market
Africa’s automotive industry has been witnessing steady growth, with increasing demand for vehicles due to urbanisation, economic expansion, and a rising middle class. The continent, once dominated by imports, is now seeing a rise in local automobile manufacturing.
Key developments in Africa’s auto industry
- Local Manufacturing Growth: Companies such as Innoson (Nigeria), Kantanka (Ghana), and Mobius Motors (Kenya) are leading Africa’s local vehicle production, aiming to reduce dependence on imports.
- Toyota’s African Expansion: Toyota remains the dominant foreign brand on the continent, with assembly plants in South Africa, Ghana, and Kenya.
- EVs Entering the Market: African startups and global automakers are beginning to introduce electric vehicles, especially in countries like South Africa, Egypt, and Rwanda, where EV adoption is gradually increasing.
- Government Policies Supporting Local Production: Many African governments are offering tax incentives and import restrictions to promote domestic car manufacturing.
Conclusion
The global automotive market in 2024 remained highly competitive, with Toyota leading the charge while Chinese EV manufacturers like BYD gained ground.
Meanwhile, Africa’s automobile industry is gradually transforming, with more local manufacturing and interest in electric mobility.
As automakers continue to innovate, the future of the industry will be shaped by advancements in electric vehicles, sustainability, and emerging markets like Africa.
