What are OEMs? What is the difference between OEM parts and aftermarket parts? Who are the world automotive OEMs? In this article, we provide a list of the top 10 automotive OEMs by annual revenue based on a ranking established by Companies Market Cap.

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What is an OEM?

OEMs (Original Equipment Manufacturers) are companies that produce parts and components specifically for use in new vehicles. They play a critical role in the automotive industry, as the parts they create are designed to meet the exact specifications and requirements of specific vehicle makes and models. 

What is the Difference Between OEM and Aftermarket Parts?

There are two main types of automotive parts: OEM and aftermarket. 

OEM parts are those that are produced by the original manufacturer, while aftermarket parts are produced by third-party companies. 

OEM parts are often more expensive than aftermarket parts, as they are manufactured to exacting standards and are made to the specific requirements of a particular vehicle. This means that they tend to be of higher quality and offer a better fit than aftermarket parts.

OEM parts are also designed to work seamlessly with the other systems and components in a vehicle, ensuring optimal performance and reducing the risk of problems or malfunctions. They are also typically covered by the vehicle’s warranty, so there is less risk for the owner if something goes wrong. 

In contrast, aftermarket parts are made by companies that are not affiliated with the original manufacturer of the vehicle. They are often less expensive than OEM parts, but they may not meet the same standards and may not fit as well with the other systems and components in the vehicle. 

Who Are the Top 10 Automotive OEMs in the World (By Revenue)?

The automotive industry is a highly competitive and dynamic market, with leading OEMs constantly striving to maintain their market positions and expand their reach. 

In this article, we present the 10 car OEMs ranked by their revenue (2022: Q1, Q2, Q3 and 2021: Q4) according to Companies Market Cap. These 10 car OEMs dominate the global market and lead the way in terms of innovation, sustainability, and electrification.

Volkswagen

Volkswagen was founded in 1937 and is headquartered in Wolfsburg, Germany. The company is known for producing a range of popular vehicles, including the Beetle, Golf, and Passat. Volkswagen has also made significant investments in electric vehicle technology.

Revenue: $284.21 B

Toyota

Toyota is a Japanese automotive manufacturer headquartered in Toyota City, Aichi. It was founded in 1937 and now manufactures 10 million vehicles per year, including sedans, SUVs, and trucks. The company is also known for hybrid technology with the Toyota Mirai.

Revenue: $260.13 B

Mercedes-Benz

Mercedes-Benz is a German luxury automaker founded in 1926. It offers a wide range of vehicles, from cars to SUVs and sports cars. It also offers a range of fully-electric vehicles like the EQC.

Revenue: $153.95 B

Ford

Ford was founded by Henry Ford in 1903 and is based in Dearborn, Michigan (USA). It was first known for producing affordable vehicles such as the Ford Model T which was also the first mass-produced car using assembly line techniques. Ford now integrates recycled and plant-based materials into some of its vehicles.

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Revenue: $151.73 B

General Motors (GM)

General Motors was founded in 1908 and is headquartered in Detroit, USA. Its portfolio of brands includes Chevrolet, Buick, Cadillac, and Holden. GM has invested heavily in EVs and is a leader in the development of new propulsion systems, including hydrogen fuel cells.

Revenue: $147.21 B

BMW

BMW (Bayerische Motoren Werke AG) was founded in 1916 as a manufacturer of aircraft engines. The company is now one of the leading luxury car brands manufacturing various models including the iconic BMW 3 series. BMW is also known for its commitment to sustainability and offers electric and hybrid vehicles, such as the BMW i3 and BMW i8.

Revenue: $139.79 B

Honda

Honda was founded in 1948 in Japan by Soichiro Honda and has since become one of the largest producers of internal combustion engines in the world. One of Honda’s most popular automobiles is the Civic. The company has also invested in autonomous driving. Un March 2021, the Honda Legend became the world’s first production vehicle to support Level 3.

Revenue: $121.32 B

SAIC Motor

SAIC Motor Corporation Limited is the largest Chinese automotive manufacturer. It was founded in 1997 and is headquartered in Shanghai, China. SAIC has several joint ventures with other brands such as GM and Volkswagen.

Revenue: $114.00 B

Hyundai

Hyundai is a South Korean car maker that was founded in 1967 and is headquartered in Seoul. It produces a wide range of vehicles, including sedans, SUVs, and commercial vehicles.

Revenue: $105.12 B

Stellantis

Stellantis was created in January 2021 through the merger of two major car manufacturers: Fiat Chrysler Automobiles and PSA Group. Its portfolio includes well-known brands such as Jeep, Dodge, Chrysler, Peugeot, Citroen, and Opel.

Revenue: $101.32 B

Top 10 Automotive OEMs in the World in 2021 by Revenue

Volkswagen AG, Toyota Motor Corp, Stellantis NV, Mercedes-Benz Group AG, and Ford Motor Co are the top 5 automotive OEMs in the world in 2021 by revenue. Among the top 10 automotive OEMs, Volkswagen AG has the highest revenue of $295,850 million for the fiscal year 2021 (FY2021), while Hyundai Motor Co had the lowest revenue of $107,554 million. Collectively, the major 10 automotive OEMs generated revenue of $1,617,021 million, with average revenue growth of 13.4%. Maority of these companies (8 out of the top 10) witnessed a revenue growth in 2021, with highest revenue growth registered by Stellantis NV (78.8%) followed by Bayerische Motoren Werke AG (16.6%) and Volkswagen AG (16.4%), while the company Toyota Motor Corp and Honda Motor Co Ltd had a revenue decline of 8.8% and 11.8% respectively. In terms of the geographical split, 3 out of 10 of the world’s major automotive OEMs are based in Germany, while 2 are based in the United States of America, and the remaining are based in Japan, Netherlands, China, and South Korea. They employed a total of 2,436,733 people in 2021. Germany-based Volkswagen AG is the leading automotive OEM in the world (by revenue). The company develops vehicles and engines and produces and sells passenger cars, trucks, buses and motorcycles, light commercial vehicles, genuine parts, turbomachinery, large-bore diesel engines, propulsion components, special gear units, and testing systems. The company employs total of 668,294 people in FY2021.The company reported revenues of $295,850 million for FY2021, an increase of 16.4% over FY2020 was driven by its brands Audi, Bentley, Lamborghini and Ducati contributed disproportionately more to the result and the company was the market leader for electric vehicles in Europe with a market share of around 25% and were in second place in the US with around 7.5%. Japan based Toyota Motor Corp is one of the leading companies in automotive OEM in the world (by revenue). The company is an automobile manufacturer. It designs, manufactures, assembles and sells passenger cars, recreational and sport-utility vehicles, mini vans, related parts and accessories, and commercial vehicles such as trucks. The company employs a total of 372,817 people in FY2021.The company reported revenues of $242,288.8 million for FY2021, increase in revenue was due to favorable impact of changes in exchange rates, vehicle unit sales and sales mix. The company had 208 Japanese subsidiaries and 351 overseas subsidiaries as of March 2022.

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