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CEOWORLD magazine - Latest - Special Reports - Revealed: Countries That Produce the Most Cars, 2024

Special Reports

Revealed: Countries That Produce the Most Cars, 2024

car manufacturing

In 2023, China, well-known as the world’s biggest manufacturer, is the leading country in the production of motor vehicles, manufacturing over 30 million cars and commercial vehicles, which was more than the combined production values of the other top five countries. On the other hand, the United States, which ranked second, produced approximately 10.6 million units, most of which were commercial vehicles. In this report, we are going to discuss the countries that produce the most motor vehicles in 2023.

The global automotive sector has faced significant challenges due to the Covid-19 pandemic. As governments worldwide implemented measures to slow down the spread of the virus, such as national lockdowns, social distancing, and stringent border controls, motor vehicle production declined by 15 percent in 2020. This decline was observed across all regions, with the highest drop in Europe and North America, where production values decreased by around 21 percent. Although the automotive industry showed signs of recovery in 2021, the production volume remained below the levels of the pre-pandemic years.

car manufacturing

The automobile manufacturing sector is one of the largest industries worldwide, and it often reflects a country’s economic condition. This industry includes various sectors, such as production, sales, and marketing, and also requires significant resources from other supply chains, including oil, steel, plastics, and rubber. It also plays a crucial role in developing roads, fuel stations, and transportation systems that contribute to the overall growth of the economy.

China is a dominant player in the global vehicle manufacturing industry, both in supply and demand. As of 2019, motor vehicle production in China accounted for nearly 29 percent of manufacturing operations worldwide. This figure was reduced to 25 percent in 2020 when the COVID-19 pandemic disrupted the global supply chain and most industries. On a closer look, SAIC-General Motors, China’s leading motor vehicle producer, reduced production numbers by 13 percent year-on-year. Meanwhile, another joint venture between SAIC and Volkswagen manufactured approximately 22.4 percent fewer cars than the previous year. In 2022, China’s share increased again and reached almost 32 percent of the global production.

Countries That Produce the Most Cars

RankCountryCarsCommercial vehicles
2United States1,745.178,866.38
5South Korea3,908.75334.85

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CEOWORLD magazine - Latest - Special Reports - Revealed: Countries That Produce the Most Cars, 2024
Lila Jones
Senior News Editor at CEOWORLD Magazine. I'm a veteran correspondent for the CEOWORLD Magazine. During my career, I've been based in New York, Washington, DC, Brussels and London. Over the years I've written about everything from the debt crisis to Brexit and the rise of populism in Europe. I did a stint in London as the CEOWORLD Magazine's Europe News Editor and Deputy World News Editor. In my current post I try to capture life in a changing banking to finance landscape.