Top 10 best-selling automakers in 2024

The global automotive industry remains highly competitive, with major manufacturers vying for dominance in different markets.

• Japanese, German, and American automakers continue to dominate the global automotive industry
• Africa's automotive industry is experiencing steady growth and a rise in local manufacturing
• China's BYD entered the top 10 best-selling automakers list, selling 3.82 million vehicles

In 2024, Japanese, German, and American automakers continued to lead the industry, while Chinese and Korean brands made significant strides.

This ranking reflects the most successful car manufacturers based on total vehicle sales worldwide.

The Global Automotive Leaders

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The following table outlines the top 10 best-selling automakers in 2024, based on total units sold according to Global Statistics

Rank	Automaker	Country	Total Sales (Millions)
1️⃣	Toyota	Japan	10.8M
2️⃣	Volkswagen Group	Germany	9.03M
3️⃣	Hyundai-Kia	South Korea	7.23M
4️⃣	Renault-Nissan Alliance	France	6.24M
5️⃣	General Motors (GM)	USA	5.96M
6️⃣	Stellantis	Netherlands	5.32M
7️⃣	Honda	Japan	4.1M
8️⃣	Ford Group	USA	3.87M
9️⃣	BYD	China	3.82M
🔟	Suzuki	Japan	3.09M

Electric revolution – The rise of BYD

One of the most significant shifts in 2024 was China’s BYD entering the top 10 list, selling 3.82 million vehicles. BYD, known for its electric vehicles (EVs), has rapidly expanded its footprint worldwide, challenging traditional automakers in the EV sector.

Automotive industry in Africa – A growing market

Africa’s automotive industry has been witnessing steady growth, with increasing demand for vehicles due to urbanisation, economic expansion, and a rising middle class. The continent, once dominated by imports, is now seeing a rise in local automobile manufacturing.

Key developments in Africa’s auto industry

• Local Manufacturing Growth: Companies such as Innoson (Nigeria), Kantanka (Ghana), and Mobius Motors (Kenya) are leading Africa’s local vehicle production, aiming to reduce dependence on imports.
• Toyota’s African Expansion: Toyota remains the dominant foreign brand on the continent, with assembly plants in South Africa, Ghana, and Kenya.
• EVs Entering the Market: African startups and global automakers are beginning to introduce electric vehicles, especially in countries like South Africa, Egypt, and Rwanda, where EV adoption is gradually increasing.
• Government Policies Supporting Local Production: Many African governments are offering tax incentives and import restrictions to promote domestic car manufacturing.

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Conclusion

The global automotive market in 2024 remained highly competitive, with Toyota leading the charge while Chinese EV manufacturers like BYD gained ground.

Meanwhile, Africa’s automobile industry is gradually transforming, with more local manufacturing and interest in electric mobility.

As automakers continue to innovate, the future of the industry will be shaped by advancements in electric vehicles, sustainability, and emerging markets like Africa.

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