The global automotive industry is one of the biggest generators of revenue across all economic sectors. China is the single largest vehicle producer in the world. In 2010 it produced a total of 18.2 billion vehicles, including 13.9 million cars and 4.4 million commercial vehicles, according to the International Organization of Motor Vehicle Manufacturers (OICA).
With a combined total of 9.6 million units, Japan is the second-largest vehicle manufacturer and home to the biggest carmaker in the world in Toyota. Together with Nissan and Honda, they provide car parts to just about every manufacturer in the world. The aftermath of the earthquake and tsunami that hit Japan in March is continuing to disrupt production across the country, which is sending global car prices higher.
The United States was the biggest producer of commercial vehicles in the world in 2010, while the European Union manufactured around one third of the world’s total car production, making it the biggest car producer globally, according to the European Automobile Manufacturers Association (ACEA).
The ever increasing cost of fuel, combined with increased awareness about carbon emissions, has forced automakers to consider alternative ways of powering their cars. As hybrid technology and biofuels continue to permeate the industry, car manufacturers will be forced to integrate these renewable energy technologies into their production lines.
Sector Statistics – Global Auto Industry
- China is the largest single nation producer of vehicles (cars and commercial vehicles combined) in the world, with 18.26 million units in 2010 (OICA).
- Japan is the second biggest car producer in the world, with 8.3 million units in 2010 (OICA).
- The European Union manufactures over 30% of the world’s total car production, making it the biggest car producing region in the world (ACEA).
- The US is the world’s number one commercial vehicle producer (OICA)
Latest Business News – Global Auto Industry
- Hyundai agreement terms for a $557 million joint venture with China’s Sichuan Nanjun Automobile Group
- Toyota and Chinese automaker BYD sign a deal to work together to produce cars for the Chinese market
- Mercedes-Benz to build its own fuel cell production plant in Canada
Key Players – Global Auto Industry
- Chrysler Group
- General Motors
- Honda Motor
- Peugeot Citroen
- Global Automotive Aftermarket Symposium, May 18-19, Chicago, Illinois, US
- Think German Electric Vehicle Concress, June 8-9, Bonn, Germany
- Automotive News Electrifying 100, June 13, Dearborn, Michigan, US