The world’s top 15 light vehicle manufacturers
Original equipment manufacturers produced more than 74 million light vehicles in 2020, a significant reduction from the previous year, mostly as a result of the Covid-19 pandemic.
The top 15 OEMs, accounting for 85% or about 63 million vehicles based on 2020 light vehicle production, were:
- Toyota Motor Corporation
- Volkswagen Group
- Renault-Nissan-Mitsubishi Alliance
- Hyundai Motor Group
- General Motors Company
- Honda Motor Company
- Ford Motor Company
- Fiat Chrysler Automobiles
- Suzuki Motor Corporation
- Daimler AG
- Groupe PSA
- BMW AG
- Zhejiang Geely Holding Group
- SAIC-GM-Wuling Automobile
- Chang’an Automobile (Group) Co., Ltd.
Fiat Chrysler Automobiles and Groupe PSA merged to form Stellantis N.V., effective January 16, 2021.
Had the merger been completed as of December 31, 2020, Stellantis would have represented the fifth largest OEM based on 2020 volumes.
SAIC-GM-Wuling Automobile is a joint venture between SAIC Motor, General Motors and Liuzhou Wuling Motors Co Ltd.
Light vehicles
According to Magna International, the considerable growth of the Chinese automotive market over the past decade has led to the significant growth of several Chinese OEMs, including SAIC, Geely and Chang’an.
Additionally, the growing trend towards vehicle electrification has led to the emergence of potentially disruptive EV OEMs, including in China.
Historically, OEMs have built their light vehicles in the regions where those vehicles are primarily sold, and as a result, many OEMs have established manufacturing facilities in various countries.
Since OEMs often use supply chain management and lean manufacturing techniques in their operations, many Tier 1 supplier facilities are located relatively close to OEM facilities to reduce the cost and risks associated with more supply chains. long.
China’s roughly 31% share of global light vehicle production led all markets in 2020.
Local demand for vehicles in China, India and other markets outside North America and Western Europe has increased significantly in recent years.
