Top 18 Toyota Competitors (Updated in 2023)

The top Toyota competitors are Mercedes Benz, BMW, Ford, Honda, Nissan, Audi, Tesla and others. A popular brand of automobiles, Toyota is an international company in the automotive sector. Its innovative approaches for the design and production have led way for many vehicles plying on road daily. Due to their strong focus in the field of research, Toyota comes out with unique variants of models. Their product portfolio includes SUVs, hybrids, cars, and 4WDs. Their production of vehicles in March 2023 was 8.69 million units.

Toyota is the dominant leader in the world car group ranking in 2023, with cumulative data up to April 2023 showing that they sold 3.4 million vehicles and maintained a substantial distance from the runner-up, Volkswagen. Also in 2022, Toyota managed to maintain its position as the world’s best-selling automaker for the third year in a row. Toyota Revenue is  $76.992B  as of June 30,2023. Market capitalization was $225.85B in August 14, 2023.

The company has a strong brand image and also huge human power globally. Their unique style and designs for their vehicles make people buy their vehicles which also make use of great technology.

Top 18 Toyota Competitors

1) Mercedes Benz

• Product Type: Luxury automobiles, vans, trucks, and buses.
• Industry: Automotive.
• Founded: 1886 by Karl Benz and Gottlieb Daimler.
• Headquarters: Stuttgart, Germany.
• Area Served: Worldwide.
• Current CEO: Ola Källenius
• Production output: over two million vehicles (2022)
• Revenue: $40.270B (March 31, 2023)
• Number of employees: 168,797 (2022)
• Market capitalization: $75.97B (September 05, 2023)
• Parent: Mercedes-Benz Group

A great Toyota competitor, Mercedes Benz is a multinational automobile company. It is also a division of Daimler AG, a German company. This brand is linked with most of the celebrated names and among the most luxury brands in the automotive sector.

Their product portfolio is buses, Lorries, coaches, and luxury vehicles. Established in the year 1886 by Gottlieb Daimler and Carl Benz, it is the largest premium car and commercial vehicles manufacturer in the world. They have their manufacturing location in about 26 countries and have a strong product portfolio from sedan to SUV.

This brand is a part of German Big 3 luxury automakers. It has a strong financial position and is the leading brand in the market. It has always been advancing in technology in every vehicle they produce.

In its two business divisions, Mercedes-Benz AG is continually expanding its worldwide production network with around 35 production sites on four continents. The brand is always popular for its technological advancement that starts from the introduction of the internal combustion engine to pre-safe technology. In 2022, the top selling model of Mercedes Benz was The GLC SUV in the US. In 2022 it sold nearly 2.45 million vehicles.  Mercedes-Benz Group AG net income for the quarter ending March 31, 2023 was $4.235B. Mercedes-Benz Group AG gross profit for the quarter ending March 31, 2023 was $10.097B.

This company has introduced the internal combustion engine and pre-safe technology over the period of years. Every vehicle is produced with great concern for safety. Due to their continuous innovation and quality, Mercedes Benz is considered as one of the top Toyota competitors. 

2) BMW

• Product Type: Luxury automobiles.
• Industry: Automotive.
• Founded: 1916 by Karl Rapp and Gustav Otto.
• Headquarters: Munich, Germany.
• Area Served: Worldwide.
• Current CEO: Oliver Zipse
• Number of employees: 149,475 (2022)
• Revenue: $39.558B (March 31, 2023)
• Market capitalization: $66.14B (August 17, 2023)

Also regarded as a top Toyota competitor, Bayerische Motoren Werke (BMW) is an international headquartered in Munich, Germany. Its main business operations include the production of motorcycles and automobiles.

Their business operations are spread across the globe. Their branded vehicles have BMW M for their performance models, BMW I for electric cars, and BMW Motorrad for motorcycles. Their business operations are spread across various segments, automotive, motorcycles, and financial services segments. The BMW group has about three brands, BMW, Mini, and Rolls-Royce.

BMW net income for the quarter ending March 31, 2023 was $3.671B. BMW gross profit for the quarter ending March 31, 2023 was $8.342B. In the second quarter of 2023, the BMW Group delivered a total of 88,289 fully-electric BMW and MINI vehicles to customers.

Its main strength is their technology where the products are advanced every time. It has a huge product portfolio in SUVs, sports car, and Luxury cars. As BMW is a popular brand in the automobile sector, it is considered one of the top Toyota competitors.

3) Ford

• Product Type: Luxury automobiles.
• Industry: Automotive.
• Founded: 1916 by Karl Rapp and Gustav Otto.
• Headquarters: Munich, Germany.
• Area Served: Worldwide.
• Current CEO: Oliver Zipse
• Major products: Ford Mustang, Ford F-150, Ford Explorer, Ford Escape, Ford Transit
• Revenue: $44.954B (June 30, 2023)
• Market capitalization: $47.95B (August 15, 2023)

Ford is an international company in the automobile sector, headquartered in Michigan, United States. It manufactures and sells vehicles for automobiles and commercial purpose. Ford tries to make the cars better focusing on quality, security, reducing emissions, and innovation.

Established in the year 1903, Ford has been an innovator in the automobile industry. Its business operations include design, manufacture, sales, and services of various kinds of vehicles. It targets to provide customer satisfaction by providing quality service to them. Their vehicle aims at a sustainable strategy which goes beyond in the reduction of CO2 emissions.

Ford produced and sold 4.2 million car units in a 2022. Ford had a production output of  4.2 million vehicles in 2022. Ford Motor net income for the quarter ending June 30, 2023 was $1.917B.

With more than 100 plants and an average of 173,000 employees around the world, Ford had an operating income of $2.461B and $44.954B revenue as at the mid of the year 2023. Ford also owns a 32% stake in China’s Jiangling Motors. It also has joint ventures in China (Changan Ford), Taiwan (Ford Lio Ho), Thailand (AutoAlliance Thailand), and Turkey (Ford Otosan).

Ford invests a huge amount on R&D and their vehicles improve the performance of vehicles like safety, fuel efficiency, and customer satisfaction. Due to their innovative technologies and great market share, Ford is considered one of the top Toyota competitors.

4) Honda

• Product Type: Automobiles, motorcycles, power equipment, and robots.
• Industry: Automotive.
• Founded: 1948 by Soichiro Honda.
• Headquarters: Tokyo, Japan.
• Area Served: Worldwide.
• Current CEO: Toshihiro Mibe
• Production output: 3,870,161 (2022)
• Revenue: $33.762B (June 30, 2023)
• Number of employees: 204,035 (2022)
• Market capitalization: $52.82B (August 14, 2023)

A popular brand in the automobile sector, Honda manufactures motorcycles, aircraft, and power equipment and is headquartered in Japan. It is foremost in the world for manufacturing high-powered vehicles. Along with design, manufacturing and selling the vehicles, Honda provides excellent after-sales service to their customers.

In a year, the company produces about 14 million internal combustion engines and among the internal engine combustion manufacturer, Honda is the largest. The Research and Development wing of Honda excellent and on the job always to provide great vehicles which is one of the greatest accomplishments of the company. The designs are a great success in the market.

Honda net income for the quarter ending June 30, 2023 was $2.650B. In 2022, Honda built a total of 3,870,161 vehicles worldwide, which was a 6.4 percent decrease from the previous year. Honda’s best-selling model in the United States in 2022 was the CR-V, with 238,155 units delivered. The passenger car production of Honda worldwide as of October 2022 was 3.28 million cars.

Every vehicle of theirs is also powered with high technology to meet the demand of technology. Their product line is huge and has about 100 car types and other vehicles like scooters and bikes as well. Due to their brand and good share in the market, Honda is considered as top Toyota competitors.

5) Nissan

• Product Type: Automobiles, trucks, and commercial vehicles.
• Industry: Automotive.
• Founded: 1933 by Yoshisuke Aikawa.
• Headquarters: Yokohama, Kanagawa, Japan.
• Area Served: Worldwide.
• Current CEO: Makoto Uchida
• Production output: 3,250,800 units (2022)
  
• Revenue: $21.299B (June 30, 2023)
• Number of employees: 134,111 (2023)
• Market capitalization: $16.49B (August 15, 2023)
• Owner: Renault (43.4% cross ownership)

Also a top Toyota competitor, Nissan is an international motor company headquartered in Yokohama, Japan. Nissan, Datsun, and Infiniti are the popular brands that are sold by the company. It is also the largest manufacturer in electric vehicle worldwide. Their average electric vehicles sale per year is about 275,000.

Nissan has 31 manufacturing plants worldwide and offers products and services in more than 160 countries.

The most popular Nissan car models are the Nissan Rogue and the Nissan Altima. These models have consistently been popular among consumers due to their reliability, practicality, and value for money.

In the first quarter of 2023, Nissan Group announced total U.S. first quarter sales for 2023 of 235,818 units, an increase of 17.3% versus the prior year. Nissan Motor net income for the quarter ending June 30, 2023 was $0.770B.

Nissan invests a lot in Research and Development. Their vehicles are manufactured with great care focusing on safety, environment, and technology. Their brand portfolio is not dependent on one segment. They have various products in zero-emission vehicles, passenger cars, compacts, sports utility vehicles, luxury cars and many more.

They also sell marine products like engines, motorboats, pontoons, and cleaning boats. Due to their various products and focus across various domains in automobiles, Nissan is considered as top Toyota competitors. 

6) Audi

• Product Type: Luxury automobiles.
• Industry: Automotive.
• Founded: 1909 by August Horch.
• Headquarters: Ingolstadt, Bavaria, Germany.
• Area Served: Worldwide.
• Current CEO: Markus Duesmann
• Production output: 1.7 million cars (2022)
• Revenue: 16.9 EUR billion (March 2023)
• Number of employees: more than 90,000
• Market capitalization: $82.99 Billion (August 2023)
• Parent: Volkswagen Group

Also regarded as a top Toyota competitor, Audi is a German multinational company which is into the design, production, marketing, and distribution of luxury vehicles. Being a member of the Volkswagen Group, it has about nine manufacturing divisions worldwide.

The company is popular for their highly sophisticated designs in their cars. Their business operations take care of two segments of Motorcycles and Automotive. It deals with supercars, automobiles, SUVs, and sports motorcycles. The company sells vehicles to the Volkswagen group along with accessories, machinery tools, and other parts.

According to the Audi Report 2022, the Audi Group delivered 1.61 million Audi vehicles, 15,174 Bentley vehicles, 9,233 Lamborghini vehicles, and 61,562 Ducati motorcycles to customers. Globally, Audi delivered 118,196 electric models to customers in 2022 — a 44.3% increase but only 7% of all Audis sold worldwide in 2022.

Their cars are popular for its engineering designs which are designed with great accuracy. This brand is famous for carrying the trust factor in it, which is also known to be the most secure cars in the world. Their great designs coupled with technology makes Audi a top Toyota competitor.

7) Tesla

• Product Type: Electric vehicles.
• Industry: Automotive.
• Founded: 2003 by Martin Eberhard and Marc Tarpenning.
• Headquarters: Austin, Texas, United States.
• Area Served: Worldwide.
• Current CEO: Elon Musk
• Production output: 1,369,611 vehicles (2022)
• Revenue: $24.927B (June 30, 2023)
• Number of employees: 127,855 (2022)
• Market capitalization: $761B (August 14, 2023)

Headquartered in California, United States, Tesla is an international company established in the year 2003. They produce electric vehicles, storage products, and scalable clean energy generation. The company had produced the world’s first sedan electric cars named Model S which is the best electric vehicle car.

The company has a well-equipped factory in California for their manufacturing purpose. Apart from designs, production, marketing, and sales of cars the company also produces components of vehicles.  Their production focuses on energy solutions like Solar Roof, Powerwall, and Powerpack for providing energy ecosystem. By this, the vehicles can manage fuel consumption, renewable energy generation, and storage.

Tesla has become one of the most valuable and influential companies in the world, with a market capitalization of over $700 billion as of 2023.

Tesla is one of the world’s most valuable companies and, as of 2023, is the world’s most valuable automaker. In 2022, the company led the battery electric vehicle market, with 18% share. Tesla’s manufacturing locations are on three continents and three countries while serving +40 markets.

Tesla’s 2022 deliveries were around 1.31 million vehicles, a 40% increase over the previous year, and cumulative sales totaled 4 million cars as of April 2023. Tesla net income for the quarter ending June 30, 2023 was $2.703B.

Tesla is rated more for their innovation when they had produced the first fully electric sports car which is a great strength in the automobile sector. Due to their strong brand and customer satisfaction, Tesla is considered as top Toyota competitors.

8) Maruti Suzuki

• Product Type: Automobiles.
• Industry: Automotive.
• Founded: 1981
• Headquarters: New Delhi, India.
• Area Served: India.
• Current CEO: Hisashi Takeuchi
• Revenue: INR 1,125,008 million (2023)
• Market capitalization: $36.62 Billion (August 2023)

Yet another top Toyota competitor, Maruti Suzuki is a popular brand in the automobile sector which is headquartered in New Delhi, India. The company was established in the year 1981 and because famous after their first production of the evergreen car Maruti 800 during the year 1983.

The company is more focused on innovations and commitment for providing the vehicles that are best suited for Indian roads. The production of Maruti 800 has seen a great revolution for the company. The intention of people for driving has been changed and they started to enjoy driving. The company strives to meet the expectations of the current trend in the automobile industry.

Maruti Suzuki India Ltd reported a 42.7% surge in its fourth-quarter profit for the year ended March 31, 2023, beating estimates as the country’s biggest carmaker benefited from strong demand for passenger cars. The company posted a profit of 26.24 billion rupees ($321.2 million) for the quarter ended March 31, compared to 18.39 billion rupees a year ago. In Q1 of FY2023-24, Maruti Suzuki India’s profit rose 145.31% to Rs 2,485 crore, and revenue was up by 22% . In June 2023, Maruti Suzuki’s consolidated net sales were at Rs 32,338.50 crore, up 21.98% YoY. Maruti Suzuki’s standalone net profit jumped 43% YoY to Rs 2,624 crore for the fourth quarter ended March 2023.

Maruti Suzuki has achieved the highest number of domestic sales by selling 1,966,164 units in the full financial year 2022-23.

It has a great market share in the market. About 15 brands of vehicles are there in their product line like Maruti Swift, Alto etc. Due to their brand value and being in the automobile industry for quite some time, Maruti Suzuki is considered as top Toyota competitors.

9) Volkswagen

• Product Type: Automobiles, trucks, and commercial vehicles.
• Industry: Automotive.
• Founded: 1937 by the German Labour Front.
• Headquarters: Wolfsburg, Lower Saxony, Germany.
• Area Served: Worldwide.
• Current CEO: Oliver Blume
• Production output: 8.7 million (2022)
• Revenue: $81.791B (March 31, 2023)
• Number of employees: 669,275 (2022)
• Market capitalization: $43.97B (August 15, 2023)
• Parent: Volkswagen Group

A German automobile manufacturer, Volkswagen is an automotive manufacturing company world famous, headquartered in Germany. Design and manufacturing of automobile vehicles are their main focus. Along with it, they even provide financial services.

It operates globally, with 119 production facilities in 19 European countries and 10 countries in the Americas, Asia and Africa. Volkswagen’s net income recorded was $4.518B for the quarter ending March 31, 2023.

They produce both commercial and passenger vehicles. They have various brands supporting the Volkswagen group.  The company, per year, produce about 10 million vehicles. It is a well-structured brand which is the most highlight of the company.

The company is dedicated to producing vehicles of safe and environmentally-friendly, and technology-driven vehicles. Due to their global presence and great brand value, Volkswagen is considered as top Toyota competitors.

10) Porsche

• Product Type: Luxury sports cars.
• Industry: Automotive.
• Founded: 1931 by Ferdinand Porsche.
• Headquarters: Stuttgart, Baden-Württemberg, Germany.
• Area Served: Worldwide.
• Current CEO: Oliver Blume
• Production output:  321,321 vehicles (2022)
  
• Revenue:  €37.630 billion (2022)
  
• Number of employees: 39,162 (2022)
• Market capitalization: $104.02 Billion (August 2023)

Also a top Toyota competitor, Porsche is a German company in the automotive sector established in the year 1931. It is popular for SUVs, Boxter roadster, and Luxury Sedans. It has also seen the production in hybrid cars and plug-in model with the name Panamera S E-hybrid.

The company had installed the first charging station during the year 2017 which has become quite famous. It is the first charging station in the world. The cars are priced at a higher end and are most chosen by high-end customers. As the products used in their car manufacturing are high-powered, these cars are suited for motor racing.

The company is owned by Volkswagen AG. Of the 321,321 vehicles produced in 2022, 41,947 were 911 models,18,080 were 718 Boxster/Cayman models, 91,117 were Macans, 98,113 were Cayennes,35,241 were Panameras and 36,823 were Taycan models. It had 18% return on Sales. Its Production output was 321321 vehicles in 2022. Its net income was €4.957 billion. As of 2022, they had 39162 employees.

They have a strong base on sports cars. This brand has a strong and loyal fan base which takes the brand to the top level. Due to their strong brand value and great demand in the sports car, Porsche is considered as top Toyota competitors.

11) Hyundai

• Product Type: Automobiles, SUVs, trucks, buses, and construction equipment.
• Industry: Automotive.
• Founded: 1967 by Chung Ju-yung.
• Headquarters: Seoul, South Korea.
• Area Served: Worldwide.
• Current CEO: Jaehoon Chang
• Production output: 322,767  (April 2022)
• Revenue: KRW 42.25 trillion (Q2, 2023)
• Number of employees: 120,000 +
• Market capitalization: $19.02B (August 14, 2023)
• Parent: Hyundai Motor Group (2000–present)

A famous automobile company, Hyundai motor company is yet another top Toyota competitor. It is headquartered in South Korea. They produce great products and services in the automobile sector and serve millions of customers worldwide with their automobile service.

They acknowledge the usage of an automobile for an individual and strive to their best to apply innovations in the production of various vehicles. In 2022, Hyundai is the third-largest automaker in the world after Toyota and Volkswagen. The vehicles of Hyundai are sold in almost 193 countries and have about 120,000 people working for them.

Hyundai Motor sold 1,059,713 units around the globe in the second quarter of 2023. Its net profit (including non-controlling interest) also was up 8.5 percent to KRW 3.35 trillion. Sales of full electric models jumped 47% Y/y to nearly 78,000 units.

Their sales are supported by almost 6,000 showrooms and dealers. Their product line covers about eight types of cars. Their cars come out with unique designs coupled with technology. Due to their great experience in the automobile sector, Hyundai is considered as top Toyota competitors.

12) Chevrolet

• Product Type: Automobiles, trucks, and commercial vehicles.
• Industry: Automotive.
• Founded: 1911
• Headquarters: Detroit, Michigan, United States.
• Area Served: Worldwide.
• Current CEO: Steve Carlisle
• Revenue: US$72.1 billion (2022)

Chevrolet is a brand that offers a range of vehicles, including cars, trucks, SUVs, and electric and fuel-efficient cars. The brand is headquartered in Detroit, Michigan, and was founded in 1911. Chevrolet models include electric and fuel-efficient vehicles that feature engaging performance, design that makes the heart beat, passive and active safety features. The 2022 Chevrolet model lineup includes trucks such as the Colorado, Colorado ZR2 Bison, Silverado, Silverado 3500 HD, and Silverado HD, as well as SUVs and crossovers such as the Equinox. Chevrolet is committed to making electric vehicles accessible to everyone and is working hard to make sure there’s an electric vehicle for every drive.

Chevrolet sales increased 17-16% to 852,187 units during the second quarter of 2023. The Chevrolet Camaro sales increased by 110% in Q2 2023. Chevrolet realized a total revenue of US$72.1 billion worldwide in 2022.

13) General Motors

• Product Type: Automobiles, trucks, and commercial vehicles.
• Industry: Automotive.
• Founded: 1908 by William C. Durant.
• Headquarters: Detroit, Michigan, United States.
• Area Served: Worldwide.
• Current CEO: Mary Barra
• Production output: 5,939,000 vehicles (sales, 2022)
  
• Revenue: $44.746B (June 30, 2023)
• Number of employees: 167,000 (2022)
• Market capitalization: $46.88B (August 14, 2023)

General Motors Company (GM) is an American corporation that designs, builds, and sells vehicles and parts under various brands in North America, the Asia Pacific, the Middle East, Africa, South America, the United States, and China . It also provides financial services through GM Financial . It was founded in 1908 by William C. Durant and has its headquarters in Detroit, Michigan. Some of its major brands include Buick, Cadillac, Chevrolet, GMC, Pontiac, Hummer, Saab, Opel, Vauxhall, and Holden. In May 2023, GM announced the creation of GM Envolve, a synergistic combination of the company’s business-to-business products and services into a new division with an emphasis on helping customers with sustainability goals and providing future-forward technology. The new entity is focused on GM’s proprietary electric, fuel cell, autonomous and, intelligence platforms.

In May 2023, GM announced the creation of GM Envolve. As of January 2023, GM is ranked 25th on the Fortune 500 rankings of the largest United States corporations by total revenue. General Motors Company net income was $2.540B for the quarter ending June 30, 2023.

14) Mitsubishi Motors

• Product Type: Automobiles, trucks, and commercial vehicles.
• Industry: Automotive.
• Founded: 1917 by Yataro Iwasaki.
• Headquarters: Minato, Tokyo, Japan.
• Area Served: Worldwide.
• Current CEO: Takao Kato
• Revenue:  $153.657B (2022)
  
• Number of employees: 79,706 (2022)
• Market capitalization: $37.2B (September 05, 2023)

Mitsubishi Motors Corporation is a Japanese multinational automobile manufacturer headquartered in Minato, Tokyo, Japan. It is a part of the Mitsubishi keiretsu, formerly the biggest industrial group in Japan. The company was established in 1970 and is an acknowledged leader in automotive technology and one of the world’s leading automotive manufacturers.

Mitsubishi Motors is a globally focused player in the automotive marketplace, with production facilities in Asia, Oceania, and Europe, and distributes products in 170 markets around the world. The company has a long history of producing innovative and technologically advanced vehicles. Mitsubishi Motors is the sixth-largest Japanese automaker and the 19th-largest worldwide by production. Since October 2016, Mitsubishi has been one-third (34%) owned by Nissan, and included in the Renault–Nissan–Mitsubishi Alliance.

The company is also a part of the Mitsubishi Group, which is a group of autonomous Japanese multinational companies in a variety of industries. The group includes Mitsubishi Corporation, Mitsubishi Electric, and Mitsubishi Heavy Industries. Mitsubishi Motors North America, Mitsubishi Motors Krama Yudha Indonesia, and Mitsubishi Motors Philippines are some of the subsidiaries of the company.

Mitsubishi annual net income for 2022 was $8.344B. Mitsubishi annual gross profit for 2022 was $19.142B.

15) PSA Group

• Product Type: Automotive technologies
• Industry: Automotive.
• Founded: 1976 by the merger of Peugeot S.A. and Citroën.
• Headquarters: Paris, France.
• Area Served: Worldwide.
• Current CEO: Carlos Tavares
• Revenue: eight billion Singapore dollars (2022)

PSA Group is a French multinational automotive manufacturing company that produces automobiles and motorcycles under the Peugeot, Citroën, DS, Opel, and Vauxhall brands. PSA Group was formed from the merger of Peugeot and Citroën in 1976. The company is headquartered in Rueil-Malmaison, France.PSA Group is one of the big six European automotive manufacturers, producing passenger cars and light commercial and utility vehicles. In addition to manufacturing cars and trucks, PSA was a major producer of bicycles and motorcycles.

PSA PowerTrain is a manufacturer of petrol and diesel engines for a range of companies including BMW, Ford, Jaguar, and Land Rover. The company has five car brands: Peugeot, Citroën, DS, Opel, and Vauxhall. As of 2023, PSA Group is listed as one of the investors of CB Insights, a market intelligence platform.

PSA International’s 2022 net profit grew 13.5 per cent from the year before to S$1.6 billion. Group revenue jumped 71.2 per cent over the same period due to contributions from business acquisitions and higher storage income. PSA International handled 90.9 million shipping containers, known in the industry as Twenty-foot Equivalent Units (TEUs) for the financial year ended Dec 31, 2022.

16) ZF Group

• Product Type: Automotive technologies
• Industry: Automotive.
• Founded: 1915 by Friedrichshafener Werkzeugmaschinenfabrik.
• Headquarters: Friedrichshafen, Germany.
• Area Served: Worldwide.
• Current CEO: Holger Klein
• Revenue: €43.8 billion (2022)
• Number of employees: 164,869 (2022)

ZF Friedrichshafen AG, also known as ZF Group, is a global technology company that supplies systems for passenger cars, commercial vehicles, and industrial technology. It was founded in 1915 as a supplier specializing in aviation technology and has since evolved into a mobility technology company. With its comprehensive product portfolio, ZF offers integrated solutions for established vehicle manufacturers, mobility providers, and startup companies in the fields of transportation and mobility. The company is focusing on Next Generation Mobility for passenger cars, commercial vehicles, and industrial applications. ZF is a software- and cloud-based company that specializes in automated driving, electromobility, vehicle motion control, and integrated safety systems. ZF Friedrichshafen products include automatic and manual transmissions for cars, trucks, buses, and construction equipment; chassis components; shock absorbers and suspension struts; electronic damping systems; clutches; torque converters; differentials; axle drives; and industrial drives.

The company operates 168 production locations in 32 countries and has 19 main development locations in nine countries. In fiscal 2022, ZF reported sales of €43.8 billion with approximately 165,000 employees worldwide. The company spent 7.8 percent of its sales on research and development in 2022. Net income in 2022 was €376 million. 

17) Opel

• Product Type: Automotive technologies
• Industry: Automotive.
• Founded: 1862 by Adam Opel.
• Headquarters: Rüsselsheim, Germany.
• Area Served: Worldwide.
• Current CEO: Florian Huettl

Opel is a German automobile manufacturer that is one of Europe’s largest automakers. It was founded by Adam Opel in 1862 in Rüsselsheim, Germany. Initially, Opel produced sewing machines in a cowshed in Rüsselsheim, but later began to sell high-wheel bicycles, also known as penny-farthings.

Opel operates 10 plants and four development and test centers in six European countries, and employs around 35,600 people in Europe. Opel is a subsidiary of Stellantis since 16 January 2021.

Opel was owned by the American automaker General Motors from 1929 until 2017 and the PSA Group, a predecessor of Stellantis, from 2017 until 2021.

18) Stellantis

• Product Type: Automotive technologies
• Industry: Automotive.
• Founded: in 2021 by the merger of Fiat Chrysler Automobiles and Groupe PSA.
• Headquarters: Amsterdam, Netherlands.
• Area Served: Worldwide.
• Current CEO: Carlos Tavares
• Revenue:  $76.320B (2023)
  
• Number of employees: 272,367 (2022)
• Market capitalization: $57.11B (September 11, 2023)

Stellantis is a multinational automotive manufacturing corporation formed in 2021 on the basis of a 50-50 cross-border merger between the Italian-American conglomerate Fiat Chrysler Automobiles (FCA) and the French PSA Group. The company is headquartered in Amsterdam and is considered one of the world’s largest automakers.

Stellantis is a constellation of 14 iconic automotive brands and two mobility arms that are about more than transportation: they’re about moving people and making connections.   The company’s 16 brands include Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS, Fiat, Fiat Professional, Jeep, Lancia, Maserati, Mopar, Opel, Peugeot, Ram, and Vauxhall.

Stellantis net income for the twelve months ending June 30, 2023 was $1.904B. Stellantis gross profit for the twelve months ending June 30, 2023 was $10.375B. Stellantis operating income for the twelve months ending June 30, 2023 was $3.305B.

Conclusion

The automobile industries focus more on technology to meet the requirements of the users and their business goals and objectives. Toyota is making use of the latest technology in their vehicles that will make the drivers at ease while driving.

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