Toyota is the biggest car company in the world by vehicles sold, moving about 10.8 million cars a year. Volkswagen and Hyundai-Kia follow. But by market value the leader is Tesla, and China’s BYD is now the largest maker of electric vehicles.
The biggest car companies by vehicles sold (2026)
Ranked by the number of vehicles produced, Toyota has led the world for years, well ahead of Volkswagen. Japanese, German, Korean and American groups fill most of the list — joined now by China’s fast-rising BYD. Figures are for 2024.
| Rank | Group | Country | Vehicles (millions) |
|---|---|---|---|
| 1 | Toyota | Japan | 10.8 |
| 2 | Volkswagen Group | Germany | 9.0 |
| 3 | Hyundai-Kia | South Korea | 6.8 |
| 4 | General Motors | USA | 6.0 |
| 5 | Stellantis | Multi (NL) | 5.3 |
| 6 | Honda | Japan | 3.9 |
| 7 | Ford | USA | 3.9 |
| 8 | BYD | China | 3.8 |
| 9 | Nissan | Japan | 3.4 |
| 10 | Suzuki | Japan | ~3.2 |
Source: OICA and company reports (2024). Some trackers group Nissan within the Renault-Nissan alliance, which changes the order.
Three ways to be the “biggest”
“Biggest” depends on the measure. Toyota leads by vehicles sold and by profit; Volkswagen leads by revenue; and Tesla, despite selling far fewer cars, is the most valuable automaker, worth around $1.5 trillion — several times Toyota’s market value. The industry produced about 92 million vehicles in 2024 (OICA). The biggest change is the rise of China: BYD sold a record 4.27 million electrified vehicles in 2024, overtaking Tesla in EV sales (CNN).
Key takeaways
- Toyota is the biggest carmaker by vehicles sold (~10.8 million in 2024).
- Volkswagen leads by revenue; Tesla by market value.
- China’s BYD is now the largest maker of electric vehicles.
- The world produced about 92 million vehicles in 2024 (OICA).
Frequently asked questions
What is the biggest car company in the world?
By vehicles sold, Toyota, which moved about 10.8 million cars in 2024 — its fifth straight year at number one. Volkswagen is the largest by revenue, and Tesla is the most valuable by market capitalisation.
What is the biggest Chinese car company?
BYD, which has grown rapidly to become the world’s largest maker of electric and plug-in vehicles, selling a record 4.27 million in 2024 and overtaking Tesla in EV sales.
Which car company is worth the most money?
Tesla, with a market value of roughly $1.5 trillion in 2026 — far more than any traditional automaker, even though it sells only a fraction as many vehicles as Toyota or Volkswagen.
Sources
Last updated: July 4, 2026
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