Top 15 light vehicle OEMs in the world

The top 15 OEMs accounted for approximately 80% or 72 million units, based on 2023 light vehicle production.

These OEMs were:

  1. Toyota Motor Corporation.
  2. Volkswagen Group.
  3. Hyundai Motor Group.
  4. Renault-Nissan-Mitsubishi Alliance.
  5. Stellantis N.V.
  6. General Motors Company.
  7. Ford Motor Company.
  8. Honda Motor Company.
  9. Suzuki Motor Corporation.
  10. BYD Auto.
  11. Zhejiang Geely Holding Group.
  12. BMW AG.
  13. Mercedes-Benz AG.
  14. Chang’an Automobile (Group) Co., Ltd.
  15. Tesla, Inc.

OEMs produced more than 90 million light vehicles in 2023, an increase of approximately 10% over 2022 production.


According to Canada-based auto parts company 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 BYD Auto, Geely and Chang’an, as mentioned above.

In addition, the growing trend toward vehicle electrification has led to the emergence of new OEMs focused on electric vehicles, particularly in China

Historically, OEMs have built their vehicles in the regions where they are primarily sold and, as a result, many OEMs have established manufacturing facilities in several countries.

Supply chains

While Magna International believes this historical practice will continue over the long term, some of the China-based EV-focused OEMs, such as BYD and Geely, are entering the European market with vehicles exported from China, while VinFast, a Vietnam-based EV-focused OEM, has entered the European and North American markets with vehicles exported from Vietnam.

Since OEMs typically use supply chain management and lean manufacturing techniques in their operations, many Tier 1 supplier facilities are generally located relatively close to OEM facilities to reduce the costs and risks associated with longer supply chains.

Despite high barriers to entry in many product areas, as well as the highly capital-intensive nature of the global Tier 1 automotive supply industry, competition is fierce and intensifying from many different sources.


Redacción Opportimes