The global automotive industry has experienced notable shifts in 2024, with leading brands navigating challenges and innovations to maintain or grow their market presence. Toyota continues to dominate as the world’s best-selling car brand, while BYD surged into the top three with exceptional growth, reshaping the competitive landscape. Here is an in-depth look at the top 25 best-selling car brands, with detailed rankings and sales figures up to November 2024.
Noteworthy Performers in 2024:
- Toyota: With 8.33 million vehicles sold, Toyota retained its position as the world’s best-selling car brand despite a slight 0.2% decrease in sales. Its global share of 10.8% remains unmatched, highlighting its dominance across markets.
- BYD: This Chinese EV specialist experienced a remarkable 42.1% growth, selling 3.39 million units and climbing six spots to rank third globally. BYD’s rise from 49th place in 2019 underscores its rapid evolution in the industry.
- Volkswagen: Securing second place with 4.44 million vehicles sold, Volkswagen maintained a stable growth rate of 0.4%, capturing a 5.8% share of the global market.
Challenges Among the Top 10:
- Honda: Despite holding fourth place, Honda saw a 2.8% decline in sales, with 3.39 million vehicles sold.
- Hyundai: Dropping two spots, Hyundai recorded a 3.1% decrease, selling 3.38 million units.
- Chevrolet and Kia: Both brands faced declines, with Chevrolet’s sales down by 4.7% and Kia’s by 2.6%.
Key Takeaways for 2024
The automotive market is increasingly competitive, with EVs driving growth. Brands like BYD have demonstrated that embracing innovation and sustainability can significantly impact global rankings. Meanwhile, traditional giants like Toyota and Volkswagen continue to thrive due to their broad appeal and robust portfolios.
As the industry looks toward 2025, these brands are expected to push the boundaries of technology and design to meet the demands of an evolving global market.